$0.39 EPS Expected for Veeco Instruments Inc. (NASDAQ:VECO) This Quarter

Analysts predict that Veeco Instruments Inc. (NASDAQ:VECOGet Rating) will post $0.39 earnings per share for the current quarter, according to Zacks. Three analysts have provided estimates for Veeco Instruments’ earnings, with the lowest EPS estimate coming in at $0.39 and the highest estimate coming in at $0.40. Veeco Instruments posted earnings per share of $0.35 during the same quarter last year, which indicates a positive year-over-year growth rate of 11.4%. The firm is expected to announce its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Veeco Instruments will report full year earnings of $1.63 per share for the current financial year, with EPS estimates ranging from $1.60 to $1.68. For the next fiscal year, analysts expect that the firm will report earnings of $1.99 per share, with EPS estimates ranging from $1.88 to $2.13. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Veeco Instruments.

Veeco Instruments (NASDAQ:VECOGet Rating) last issued its quarterly earnings data on Monday, May 9th. The semiconductor company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.29 by $0.02. Veeco Instruments had a net margin of 6.09% and a return on equity of 15.58%. The business had revenue of $156.30 million during the quarter, compared to analyst estimates of $154.95 million. During the same period last year, the business posted $0.19 earnings per share. Veeco Instruments’s quarterly revenue was up 16.9% compared to the same quarter last year.

VECO has been the subject of several analyst reports. StockNews.com initiated coverage on shares of Veeco Instruments in a research report on Thursday, March 31st. They set a “hold” rating for the company. Oppenheimer reduced their price target on shares of Veeco Instruments from $40.00 to $35.00 in a research report on Thursday, May 5th. Finally, Zacks Investment Research raised shares of Veeco Instruments from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Wednesday, April 20th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $32.14.

In related news, CFO John P. Kiernan bought 5,000 shares of the business’s stock in a transaction on Wednesday, May 11th. The stock was acquired at an average price of $20.79 per share, with a total value of $103,950.00. Following the transaction, the chief financial officer now owns 89,158 shares in the company, valued at approximately $1,853,594.82. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.40% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Thrivent Financial for Lutherans grew its position in shares of Veeco Instruments by 1.0% during the 4th quarter. Thrivent Financial for Lutherans now owns 41,101 shares of the semiconductor company’s stock valued at $1,170,000 after acquiring an additional 403 shares during the period. Maryland State Retirement & Pension System lifted its stake in shares of Veeco Instruments by 2.3% during the 1st quarter. Maryland State Retirement & Pension System now owns 20,428 shares of the semiconductor company’s stock valued at $555,000 after buying an additional 462 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in shares of Veeco Instruments by 5.9% during the 1st quarter. Teacher Retirement System of Texas now owns 10,286 shares of the semiconductor company’s stock valued at $280,000 after buying an additional 577 shares in the last quarter. Diversified Trust Co lifted its stake in shares of Veeco Instruments by 7.7% during the 4th quarter. Diversified Trust Co now owns 10,202 shares of the semiconductor company’s stock valued at $290,000 after buying an additional 726 shares in the last quarter. Finally, Panagora Asset Management Inc. lifted its stake in shares of Veeco Instruments by 1.3% during the 4th quarter. Panagora Asset Management Inc. now owns 56,490 shares of the semiconductor company’s stock valued at $1,608,000 after buying an additional 726 shares in the last quarter. 97.66% of the stock is owned by hedge funds and other institutional investors.

Shares of VECO opened at $21.94 on Friday. The company has a market capitalization of $1.12 billion, a P/E ratio of 32.26 and a beta of 1.35. The company has a quick ratio of 2.00, a current ratio of 2.58 and a debt-to-equity ratio of 0.63. The firm has a 50 day moving average of $25.58 and a 200 day moving average of $26.76. Veeco Instruments has a twelve month low of $18.68 and a twelve month high of $32.40.

About Veeco Instruments (Get Rating)

Veeco Instruments Inc, together with its subsidiaries, develops, manufactures, sells, and supports semiconductor and thin film process equipment primarily to make electronic devices worldwide. 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, and atomic layer deposition and other deposition systems, as well as packaging lithography equipment.

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