Equities research analysts forecast that Veeco Instruments Inc. (NASDAQ:VECO) will post earnings per share (EPS) of $0.05 for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Veeco Instruments’ earnings, with estimates ranging from $0.03 to $0.07. Veeco Instruments posted earnings per share of $0.09 in the same quarter last year, which would suggest a negative year over year growth rate of 44.4%. The company is expected to report its next earnings results on Thursday, May 3rd.
According to Zacks, analysts expect that Veeco Instruments will report full year earnings of $0.71 per share for the current fiscal year, with EPS estimates ranging from $0.69 to $0.73. For the next year, analysts anticipate that the business will post earnings of $1.01 per share. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that follow Veeco Instruments.
Veeco Instruments (NASDAQ:VECO) last issued its quarterly earnings data on Monday, February 12th. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.10. Veeco Instruments had a negative net margin of 9.24% and a negative return on equity of 0.12%. The business had revenue of $143.40 million during the quarter, compared to the consensus estimate of $143.85 million. During the same period in the prior year, the firm posted $0.09 EPS. The firm’s quarterly revenue was up 53.2% compared to the same quarter last year.
Shares of Veeco Instruments (NASDAQ VECO) traded up $0.60 during mid-day trading on Monday, reaching $19.30. 392,044 shares of the company’s stock were exchanged, compared to its average volume of 801,056. Veeco Instruments has a twelve month low of $10.85 and a twelve month high of $34.38. The company has a quick ratio of 2.13, a current ratio of 2.67 and a debt-to-equity ratio of 0.33. The company has a market cap of $932.23, a P/E ratio of -19.49 and a beta of 0.78.
Veeco Instruments declared that its board has authorized a share buyback plan on Monday, December 11th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
In other Veeco Instruments news, SVP John P. Kiernan purchased 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The shares were bought at an average cost of $13.65 per share, for a total transaction of $68,250.00. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO John R. Peeler purchased 36,200 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The shares were acquired at an average price of $13.81 per share, for a total transaction of $499,922.00. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 63,700 shares of company stock worth $877,472. Corporate insiders own 2.90% of the company’s stock.
Several hedge funds have recently made changes to their positions in VECO. Ameritas Investment Partners Inc. lifted its stake in shares of Veeco Instruments by 32.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,143 shares of the semiconductor company’s stock valued at $115,000 after buying an additional 1,026 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of Veeco Instruments during the 4th quarter valued at approximately $154,000. Stifel Financial Corp purchased a new stake in shares of Veeco Instruments during the 2nd quarter valued at approximately $202,000. Quantitative Systematic Strategies LLC purchased a new stake in shares of Veeco Instruments during the 4th quarter valued at approximately $205,000. Finally, Aperio Group LLC purchased a new stake in shares of Veeco Instruments during the 3rd quarter valued at approximately $218,000. Institutional investors own 98.36% of the company’s stock.
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Veeco Instruments Company Profile
Veeco Instruments Inc is engaged in the design, development, manufacture and support of thin film process equipment, primarily sold to make electronic devices. The Company’s geographical segments include the United States; China; Europe, Middle East and Africa (EMEA), and Rest of World (ROW). The Company’s portfolio of technology solutions focus on market areas, including Lighting, Display & Power Electronics; Advanced Packaging, micro-electromechanical systems (MEMS) & radio frequency (RF); Scientific & Industrial, and Data Storage.
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