Veeco Instruments Inc. (VECO) Expected to Post Earnings of -$0.23 Per Share

Equities analysts forecast that Veeco Instruments Inc. (NASDAQ:VECO) will announce earnings of ($0.23) per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Veeco Instruments’ earnings. The highest EPS estimate is ($0.22) and the lowest is ($0.23). Veeco Instruments posted earnings of $0.20 per share in the same quarter last year, which would indicate a negative year over year growth rate of 215%. The business is scheduled to report its next quarterly earnings results after the market closes on Monday, May 6th.

According to Zacks, analysts expect that Veeco Instruments will report full year earnings of ($0.32) per share for the current year, with EPS estimates ranging from ($0.39) to ($0.24). For the next year, analysts expect that the business will report earnings of $0.60 per share. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Veeco Instruments.

Veeco Instruments (NASDAQ:VECO) last announced its quarterly earnings results on Monday, February 11th. The semiconductor company reported ($0.24) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.01). Veeco Instruments had a negative net margin of 75.10% and a negative return on equity of 0.31%. The business had revenue of $98.97 million during the quarter, compared to analysts’ expectations of $95.95 million.

VECO has been the subject of several recent analyst reports. Zacks Investment Research lowered Veeco Instruments from a “buy” rating to a “hold” rating in a research note on Saturday, February 16th. BidaskClub upgraded Veeco Instruments from a “sell” rating to a “hold” rating in a research note on Thursday, December 27th. Benchmark restated a “hold” rating on shares of Veeco Instruments in a research note on Tuesday, February 12th. Finally, ValuEngine upgraded Veeco Instruments from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $20.67.

Shares of Veeco Instruments stock traded up $0.47 on Thursday, hitting $12.38. The company’s stock had a trading volume of 4,725 shares, compared to its average volume of 242,053. The company has a quick ratio of 2.27, a current ratio of 3.25 and a debt-to-equity ratio of 0.66. Veeco Instruments has a 1 year low of $6.27 and a 1 year high of $19.50. The firm has a market cap of $577.32 million, a PE ratio of -300.00 and a beta of 1.26.

Large investors have recently bought and sold shares of the business. Neuburgh Advisers LLC increased its stake in Veeco Instruments by 47.2% during the 4th quarter. Neuburgh Advisers LLC now owns 7,040 shares of the semiconductor company’s stock worth $52,000 after buying an additional 2,256 shares in the last quarter. Bank of Montreal Can grew its position in shares of Veeco Instruments by 32.1% in the fourth quarter. Bank of Montreal Can now owns 7,665 shares of the semiconductor company’s stock valued at $57,000 after purchasing an additional 1,864 shares in the last quarter. Caxton Associates LP purchased a new stake in shares of Veeco Instruments in the fourth quarter valued at approximately $90,000. Fox Run Management L.L.C. purchased a new stake in shares of Veeco Instruments in the fourth quarter valued at approximately $91,000. Finally, Municipal Employees Retirement System of Michigan purchased a new stake in shares of Veeco Instruments in the fourth quarter valued at approximately $102,000. Institutional investors own 92.70% 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 worldwide. It offers metal organic chemical vapor deposition systems; packaging lithography equipment; precision surface processing systems; laser annealing systems; ion beam deposition and etch systems; molecular beam epitaxy systems; 3D wafer inspection systems; and atomic layer deposition and other deposition systems.

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