Veeco Instruments (VECO) Scheduled to Post Quarterly Earnings on Wednesday

Veeco Instruments (NASDAQ:VECO) is scheduled to be posting its quarterly earnings results after the market closes on Wednesday, November 6th. Analysts expect Veeco Instruments to post 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.Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Veeco Instruments (NASDAQ:VECO) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $176.03 million. During the same quarter in the previous year, the business posted $0.21 EPS. The company’s revenue was up 8.8% compared to the same quarter last year. 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 Price Performance

Shares of VECO stock opened at $28.79 on Monday. The company has a current ratio of 3.52, a quick ratio of 2.32 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 20.42 and a beta of 1.17. The firm’s 50 day moving average is $31.72 and its 200-day moving average is $37.60. Veeco Instruments has a 1 year low of $24.33 and a 1 year high of $49.25.

Insider Buying and Selling

In other Veeco Instruments news, CFO John P. Kiernan sold 2,500 shares of the stock in a transaction dated Thursday, October 10th. The stock was 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 directly owns 82,642 shares in the company, valued at $2,696,608.46. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. 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. Citigroup downgraded shares of Veeco Instruments from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $45.00 to $50.00 in a research note on Monday, July 15th. StockNews.com raised shares of Veeco Instruments from a “sell” rating to a “hold” rating in a report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 price objective on shares of Veeco Instruments in a research note on Wednesday, August 7th. Finally, Benchmark reissued a “buy” rating and issued a $42.00 target price on shares of Veeco Instruments in a research note on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $45.57.

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.