Veeco Instruments (NASDAQ:VECO) Releases Q2 Earnings Guidance

Veeco Instruments (NASDAQ:VECO) updated its second quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.38-0.48 for the period, compared to the consensus EPS estimate of $0.43. The company issued revenue guidance of $165-185 million, compared to the consensus revenue estimate of $175.22 million.

Analyst Ratings Changes

VECO has been the subject of a number of research reports. Barclays raised their price target on shares of Veeco Instruments from $33.00 to $35.00 and gave the company an equal weight rating in a report on Wednesday. The Goldman Sachs Group lifted their price objective on Veeco Instruments from $31.00 to $35.00 and gave the stock a neutral rating in a research report on Thursday, February 15th. Benchmark upped their target price on shares of Veeco Instruments from $34.00 to $40.00 and gave the company a buy rating in a research report on Thursday, February 15th. Needham & Company LLC lifted their price target on shares of Veeco Instruments from $43.00 to $46.00 and gave the stock a buy rating in a research report on Wednesday. Finally, Citigroup raised their price objective on shares of Veeco Instruments from $36.00 to $43.00 and gave the company a buy rating in a research note on Wednesday, February 21st. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $38.43.

Veeco Instruments Price Performance

Shares of NASDAQ:VECO traded up $1.80 during trading on Wednesday, reaching $39.29. 977,900 shares of the company traded hands, compared to its average volume of 527,748. The company has a quick ratio of 2.15, a current ratio of 3.24 and a debt-to-equity ratio of 0.41. Veeco Instruments has a 52 week low of $19.05 and a 52 week high of $40.30. The firm has a market capitalization of $2.21 billion, a PE ratio of -61.68 and a beta of 1.18. The company’s 50 day moving average is $35.25 and its two-hundred day moving average is $31.86.

Veeco Instruments (NASDAQ:VECO) last issued its quarterly earnings results on Wednesday, February 14th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.09. Veeco Instruments had a positive return on equity of 11.10% and a negative net margin of 4.56%. The company had revenue of $173.92 million for the quarter, compared to analyst estimates of $170.00 million. As a group, sell-side analysts predict that Veeco Instruments will post 1.39 earnings per share for the current year.

Insider Buying and Selling at Veeco Instruments

In other Veeco Instruments news, CEO William John Miller sold 24,201 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $35.30, for a total value of $854,295.30. Following the sale, the chief executive officer now owns 545,091 shares in the company, valued at approximately $19,241,712.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Veeco Instruments news, SVP Adrian Devasahayam sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $34.10, for a total transaction of $170,500.00. Following the completion of the sale, the senior vice president now directly owns 67,278 shares of the company’s stock, valued at approximately $2,294,179.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William John Miller sold 24,201 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $35.30, for a total value of $854,295.30. Following the sale, the chief executive officer now directly owns 545,091 shares of the company’s stock, valued at $19,241,712.30. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.

Veeco Instruments Company Profile

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.