Veeco Instruments Inc. (NASDAQ:VECO) Expected to Announce Quarterly Sales of $161.07 Million

Wall Street analysts expect that Veeco Instruments Inc. (NASDAQ:VECOGet Rating) will announce $161.07 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Veeco Instruments’ earnings. The highest sales estimate is $163.00 million and the lowest is $160.00 million. Veeco Instruments reported sales of $146.34 million in the same quarter last year, which indicates a positive year-over-year growth rate of 10.1%. The business is expected to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, 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 financial year, analysts expect that the company will report sales of $749.30 million, with estimates ranging from $732.90 million to $765.00 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Veeco Instruments.

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

VECO has been the topic of a number of research reports. StockNews.com initiated coverage on shares of Veeco Instruments in a report on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research cut shares of Veeco Instruments from a “buy” rating to a “hold” rating in a report on Wednesday, May 18th. Finally, Oppenheimer dropped their target price on shares of Veeco Instruments from $40.00 to $35.00 in a report on Thursday, May 5th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $32.14.

In related news, CFO John P. Kiernan bought 5,000 shares of the stock in a transaction on Wednesday, May 11th. The shares were purchased at an average price of $20.79 per share, with a total value of $103,950.00. Following the purchase, the chief financial officer now owns 89,158 shares in the company, valued at $1,853,594.82. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dennis Thomas St bought 2,500 shares of the stock in a transaction on Monday, May 16th. The shares were bought at an average cost of $21.60 per share, for a total transaction of $54,000.00. Following the purchase, the director now owns 52,429 shares in the company, valued at approximately $1,132,466.40. The disclosure for this purchase can be found here. 2.40% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans increased its stake in 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 buying an additional 403 shares during the period. Maryland State Retirement & Pension System boosted its position 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 purchasing an additional 462 shares in the last quarter. Teacher Retirement System of Texas boosted its position 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 purchasing an additional 577 shares in the last quarter. Diversified Trust Co boosted its position 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 purchasing an additional 726 shares in the last quarter. Finally, Panagora Asset Management Inc. boosted its position 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 purchasing an additional 726 shares in the last quarter. 97.66% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:VECO opened at $21.70 on Monday. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 31.91 and a beta of 1.35. Veeco Instruments has a 1-year low of $18.68 and a 1-year high of $32.40. The company’s fifty day moving average is $23.46 and its two-hundred day moving average is $26.21. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.77 and a current ratio of 2.58.

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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