Veeco Instruments (VECO) to Release Quarterly Earnings on Wednesday

Veeco Instruments (NASDAQ:VECO - Get Free Report) is projected to post its quarterly earnings results after the market closes on Wednesday, February 12th. Analysts expect Veeco Instruments to post earnings of $0.40 per share and revenue of $176.26 million for the quarter. Persons that are interested in registering for the company's earnings conference call can do so using this link.

Veeco Instruments (NASDAQ:VECO - Get Free Report) last posted its earnings results on Wednesday, November 6th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.01. Veeco Instruments had a return on equity of 10.92% and a net margin of 11.34%. The business had revenue of $184.80 million during the quarter, compared to analysts' expectations of $180.57 million. During the same period in the prior year, the business earned $0.41 EPS. Veeco Instruments's revenue for the quarter was up 4.2% compared to the same quarter last year. On average, analysts expect Veeco Instruments to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Veeco Instruments Stock Down 3.4 %

VECO traded down $0.87 during trading on Friday, reaching $24.38. The company had a trading volume of 690,068 shares, compared to its average volume of 595,984. The business's fifty day moving average price is $27.04 and its 200 day moving average price is $30.45. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.54 and a quick ratio of 2.41. Veeco Instruments has a 12 month low of $23.24 and a 12 month high of $49.25. The company has a market cap of $1.38 billion, a P/E ratio of 18.06 and a beta of 1.13.

Insider Activity at Veeco Instruments

In related news, CFO John P. Kiernan sold 2,500 shares of the firm's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $28.67, for a total value of $71,675.00. Following the completion of the sale, the chief financial officer now directly owns 80,142 shares in the company, valued at approximately $2,297,671.14. This trade represents a 3.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. StockNews.com raised shares of Veeco Instruments from a "sell" rating to a "hold" rating in a research note on Friday, December 6th. Oppenheimer reiterated an "outperform" rating and set a $35.00 price objective (down from $40.00) on shares of Veeco Instruments in a report on Friday. The Goldman Sachs Group reduced their price target on Veeco Instruments from $35.00 to $30.00 and set a "neutral" rating for the company in a research report on Thursday, November 7th. Citigroup upgraded shares of Veeco Instruments from a "neutral" rating to a "buy" rating and set a $33.00 price objective on the stock in a report on Monday, January 6th. Finally, Benchmark reduced their target price on shares of Veeco Instruments from $42.00 to $38.00 and set a "buy" rating for the company in a report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $39.00.

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.