Veeco Instruments Inc. (VECO) Expected to Post Earnings of $0.09 Per Share

Brokerages expect Veeco Instruments Inc. (NASDAQ:VECO) to announce earnings per share (EPS) of $0.09 for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Veeco Instruments’ earnings, with the lowest EPS estimate coming in at $0.08 and the highest estimate coming in at $0.11. Veeco Instruments also reported earnings per share of $0.09 in the same quarter last year. The business is expected to announce its next earnings report on Thursday, February 15th.

On average, analysts expect that Veeco Instruments will report full-year earnings of $0.43 per share for the current fiscal year, with EPS estimates ranging from $0.41 to $0.45. For the next fiscal year, analysts expect that the firm will post earnings of $0.62 per share, with EPS estimates ranging from $0.30 to $0.95. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Veeco Instruments.

Veeco Instruments (NASDAQ:VECO) last issued its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.16. The company had revenue of $131.87 million during the quarter, compared to the consensus estimate of $134.97 million. Veeco Instruments had a negative return on equity of 0.73% and a negative net margin of 10.16%. Veeco Instruments’s revenue was up 54.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.05) EPS.

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, July 22nd. Needham & Company LLC lowered their price objective on shares of Veeco Instruments from $36.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, August 30th. Deutsche Bank AG set a $21.00 price objective on shares of Veeco Instruments and gave the company a “hold” rating in a research note on Wednesday, August 30th. ValuEngine cut shares of Veeco Instruments from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Finally, Stifel Nicolaus reissued a “buy” rating and set a $38.00 price objective (up from $36.00) on shares of Veeco Instruments in a research note on Friday, July 21st. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $29.22.

A number of institutional investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC boosted its position in Veeco Instruments by 71.8% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 16,414 shares of the semiconductor company’s stock worth $351,000 after purchasing an additional 6,858 shares during the period. Royce & Associates LP boosted its position in Veeco Instruments by 63.6% during the 3rd quarter. Royce & Associates LP now owns 492,577 shares of the semiconductor company’s stock worth $10,541,000 after purchasing an additional 191,500 shares during the period. Dimensional Fund Advisors LP boosted its position in Veeco Instruments by 3.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,953,177 shares of the semiconductor company’s stock worth $63,198,000 after purchasing an additional 92,897 shares during the period. Van ECK Associates Corp boosted its position in Veeco Instruments by 23.7% during the 3rd quarter. Van ECK Associates Corp now owns 60,073 shares of the semiconductor company’s stock worth $1,286,000 after purchasing an additional 11,500 shares during the period. Finally, Columbus Circle Investors boosted its position in Veeco Instruments by 637.6% during the 3rd quarter. Columbus Circle Investors now owns 77,169 shares of the semiconductor company’s stock worth $1,651,000 after purchasing an additional 66,707 shares during the period. 97.16% of the stock is owned by hedge funds and other institutional investors.

Shares of Veeco Instruments (NASDAQ:VECO) traded down $0.20 on Wednesday, reaching $15.35. The company’s stock had a trading volume of 432,200 shares, compared to its average volume of 520,289. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.61 and a quick ratio of 2.11. Veeco Instruments has a 52 week low of $15.25 and a 52 week high of $34.38.

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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.

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