Veeco Instruments (VECO) to Release Earnings on Wednesday

Veeco Instruments (NASDAQ:VECO - Get Free Report) is scheduled to announce its earnings results after the market closes on Wednesday, November 6th. Analysts expect the company to announce earnings of $0.45 per share for the quarter. Veeco Instruments has set its Q3 guidance at $0.39-0.49 EPS and its Q3 2024 guidance at 0.390-0.490 EPS.Investors that are interested in participating in the company's conference call can do so using this link.

Veeco Instruments (NASDAQ:VECO - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.01). Veeco Instruments had a net margin of 11.83% and a return on equity of 12.03%. The company had revenue of $175.88 million for the quarter, compared to analysts' expectations of $176.03 million. During the same quarter in the previous year, the company posted $0.21 EPS. The business's quarterly revenue was up 8.8% on a year-over-year basis. On average, analysts expect Veeco Instruments to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Veeco Instruments Trading Down 1.0 %

Shares of NASDAQ:VECO traded down $0.29 on Wednesday, hitting $29.69. 679,966 shares of the company's stock were exchanged, compared to its average volume of 655,849. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of -65.71 and a beta of 1.16. Veeco Instruments has a 12 month low of $23.63 and a 12 month high of $49.25. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.52 and a quick ratio of 2.32. The business's 50 day simple moving average is $32.23 and its two-hundred day simple moving average is $37.76.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Citigroup downgraded shares of Veeco Instruments from a "buy" rating to a "neutral" rating and lifted their price target for the company from $45.00 to $50.00 in a research note on Monday, July 15th. The Goldman Sachs Group cut their price target on Veeco Instruments from $39.00 to $35.00 and set a "neutral" rating on the stock in a research note on Thursday, August 8th. Benchmark reissued a "buy" rating and set a $42.00 target price on shares of Veeco Instruments in a research report on Wednesday, August 7th. StockNews.com lowered shares of Veeco Instruments from a "hold" rating to a "sell" rating in a report on Wednesday, October 23rd. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $55.00 target price on shares of Veeco Instruments in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $45.57.

Insider Activity

In other news, CFO John P. Kiernan sold 2,500 shares of the firm's stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $32.63, for a total value of $81,575.00. Following the completion of the sale, the chief financial officer now owns 82,642 shares in the company, valued at approximately $2,696,608.46. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.40% of the company's stock.

About Veeco Instruments

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.