Somewhat Favorable News Coverage Somewhat Unlikely to Impact Veeco Instruments (VECO) Stock Price

Press coverage about Veeco Instruments (NASDAQ:VECO) has trended somewhat positive on Monday, according to Accern Sentiment Analysis. The research firm scores the sentiment of news coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Veeco Instruments earned a media sentiment score of 0.10 on Accern’s scale. Accern also assigned media coverage about the semiconductor company an impact score of 46.1330915401573 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.

Shares of Veeco Instruments (NASDAQ VECO) opened at $16.95 on Monday. The company has a current ratio of 2.61, a quick ratio of 2.11 and a debt-to-equity ratio of 0.32. Veeco Instruments has a 12-month low of $10.85 and a 12-month high of $34.38. The firm has a market cap of $818.72, a price-to-earnings ratio of -16.95 and a beta of 0.73.

Veeco Instruments (NASDAQ:VECO) last announced its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.16. Veeco Instruments had a negative net margin of 10.16% and a negative return on equity of 0.73%. The firm had revenue of $131.87 million during the quarter, compared to analysts’ expectations of $134.97 million. During the same period in the prior year, the company earned ($0.05) EPS. The firm’s revenue was up 54.3% on a year-over-year basis. analysts anticipate that Veeco Instruments will post -0.01 earnings per share for the current year.

Veeco Instruments announced that its Board of Directors has authorized a share repurchase program on Monday, December 11th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the semiconductor company to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Several analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Veeco Instruments from a “hold” rating to a “sell” rating in a research note on Saturday, January 6th. BidaskClub cut shares of Veeco Instruments from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 price target on shares of Veeco Instruments in a research report on Friday, November 3rd. Benchmark reaffirmed a “buy” rating and set a $23.00 price target on shares of Veeco Instruments in a research report on Friday, November 3rd. Finally, KeyCorp cut shares of Veeco Instruments to a “hold” rating in a research report on Wednesday, October 25th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $29.88.

In other news, President William John Miller acquired 15,000 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were purchased at an average price of $13.75 per share, for a total transaction of $206,250.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP John P. Kiernan acquired 5,000 shares of the business’s stock in a transaction on Wednesday, December 13th. The stock was purchased at an average price of $13.65 per share, for a total transaction of $68,250.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 63,700 shares of company stock valued at $877,472. 2.90% of the stock is owned by corporate insiders.

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Veeco Instruments Company Profile

Veeco Instruments Inc is engaged in the design, development, manufacture and support of thin film process equipment, primarily sold to make electronic devices. The Company’s geographical segments include the United States; China; Europe, Middle East and Africa (EMEA), and Rest of World (ROW). The Company’s portfolio of technology solutions focus on market areas, including Lighting, Display & Power Electronics; Advanced Packaging, micro-electromechanical systems (MEMS) & radio frequency (RF); Scientific & Industrial, and Data Storage.

Insider Buying and Selling by Quarter for Veeco Instruments (NASDAQ:VECO)

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