Veeco Instruments (NASDAQ:VECO – Get Free Report) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.380-0.480 for the period, compared to the consensus EPS estimate of 0.430. The company issued revenue guidance of $165.0 million-$185.0 million, compared to the consensus revenue estimate of $174.9 million.
Veeco Instruments Price Performance
Shares of NASDAQ VECO traded down $0.17 during mid-day trading on Friday, reaching $37.90. The company’s stock had a trading volume of 171,106 shares, compared to its average volume of 525,791. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.24 and a quick ratio of 2.15. Veeco Instruments has a 52 week low of $20.44 and a 52 week high of $40.30. The stock has a fifty day moving average of $35.38 and a two-hundred day moving average of $31.96. The firm has a market capitalization of $2.14 billion, a PE ratio of -58.57 and a beta of 1.18.
Veeco Instruments (NASDAQ:VECO – Get Free Report) last posted its earnings results on Wednesday, February 14th. The semiconductor company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.09. The company had revenue of $173.92 million during the quarter, compared to analysts’ expectations of $170.00 million. Veeco Instruments had a negative net margin of 4.56% and a positive return on equity of 11.10%. As a group, sell-side analysts anticipate that Veeco Instruments will post 1.39 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Read Our Latest Stock Analysis on VECO
Insider Buying and Selling at Veeco Instruments
In related news, CEO William John Miller sold 24,201 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $35.30, for a total value of $854,295.30. Following the completion of the transaction, the chief executive officer now owns 545,091 shares in the company, valued at approximately $19,241,712.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO William John Miller sold 24,201 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $35.30, for a total value of $854,295.30. Following the completion of the transaction, the chief executive officer now owns 545,091 shares of the company’s stock, valued at approximately $19,241,712.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Adrian Devasahayam sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $34.10, for a total value of $170,500.00. Following the transaction, the senior vice president now owns 67,278 shares in the company, valued at approximately $2,294,179.80. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.
Veeco Instruments Company Profile
Veeco Instruments Inc, together with its subsidiaries, develops, manufactures, sells, and supports semiconductor and thin film process equipment primarily to make electronic devices in the United States, Europe, the Middle East, and Africa, China, Rest of the Asia-Pacific, and internationally. The company offers laser annealing, ion beam deposition and etch, metal organic chemical vapor deposition, single wafer wet processing and surface preparation, molecular beam epitaxy, advanced packaging lithography, atomic layer deposition, and other deposition systems.
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