$161.07 Million in Sales Expected for Veeco Instruments Inc. (NASDAQ:VECO) This Quarter

Wall Street brokerages expect Veeco Instruments Inc. (NASDAQ:VECOGet Rating) to announce $161.07 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Veeco Instruments’ earnings, with the highest sales estimate coming in at $163.00 million and the lowest estimate coming in at $160.00 million. Veeco Instruments reported sales of $146.34 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 10.1%. The firm is scheduled to issue its next earnings report on Monday, January 1st.

On average, analysts expect that Veeco Instruments will report full year sales of $661.83 million for the current financial year, with estimates ranging from $660.00 million to $665.50 million. For the next year, analysts anticipate that the company will post sales of $749.30 million, with estimates ranging from $732.90 million to $765.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Veeco Instruments.

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

A number of brokerages recently issued reports on VECO. Zacks Investment Research downgraded Veeco Instruments from a “buy” rating to a “hold” rating in a research report on Wednesday. Oppenheimer cut their price objective on Veeco Instruments from $40.00 to $35.00 in a research report on Thursday, May 5th. Finally, StockNews.com began coverage on Veeco Instruments in a research report on Thursday, March 31st. They set a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Veeco Instruments currently has an average rating of “Hold” and a consensus price target of $32.14.

In other Veeco Instruments news, Director Dennis Thomas St bought 2,500 shares of the stock in a transaction dated Monday, May 16th. The shares were acquired at an average cost of $21.60 per share, for a total transaction of $54,000.00. Following the completion of the transaction, the director now owns 52,429 shares in the company, valued at approximately $1,132,466.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO John P. Kiernan acquired 5,000 shares of the stock in a transaction on Wednesday, May 11th. The shares were acquired at an average cost of $20.79 per share, for a total transaction of $103,950.00. Following the completion of the transaction, the chief financial officer now directly owns 89,158 shares in the company, valued at approximately $1,853,594.82. The disclosure for this purchase can be found here. 2.40% of the stock is owned by insiders.

Large investors have recently modified their holdings of the company. Huntington National Bank purchased a new stake in Veeco Instruments during the first quarter worth about $25,000. Outfitter Financial LLC acquired a new position in shares of Veeco Instruments in the fourth quarter valued at approximately $36,000. Private Capital Group LLC acquired a new position in shares of Veeco Instruments in the first quarter valued at approximately $42,000. Captrust Financial Advisors raised its position in shares of Veeco Instruments by 125.0% in the first quarter. Captrust Financial Advisors now owns 2,115 shares of the semiconductor company’s stock valued at $58,000 after buying an additional 1,175 shares during the last quarter. Finally, Royal Bank of Canada raised its position in shares of Veeco Instruments by 82.2% in the second quarter. Royal Bank of Canada now owns 3,726 shares of the semiconductor company’s stock valued at $90,000 after buying an additional 1,681 shares during the last quarter. 97.66% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ VECO traded down $0.13 during trading on Friday, hitting $21.14. 417,604 shares of the company were exchanged, compared to its average volume of 507,635. Veeco Instruments has a 12-month low of $18.68 and a 12-month high of $32.40. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.77 and a current ratio of 2.58. The company has a fifty day moving average price of $25.06 and a 200-day moving average price of $26.65. The firm has a market capitalization of $1.08 billion, a PE ratio of 31.28 and a beta of 1.35.

Veeco Instruments Company Profile (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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