Veeco Instruments Inc. (NASDAQ:VECO) Expected to Post Earnings of -$0.08 Per Share

Equities research analysts expect Veeco Instruments Inc. (NASDAQ:VECO) to post ($0.08) earnings per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Veeco Instruments’ earnings, with the highest EPS estimate coming in at ($0.07) and the lowest estimate coming in at ($0.08). Veeco Instruments reported earnings of $0.15 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 153.3%. The firm is scheduled to report its next quarterly earnings report on Thursday, August 1st.

According to Zacks, analysts expect that Veeco Instruments will report full year earnings of ($0.15) per share for the current financial year, with EPS estimates ranging from ($0.16) to ($0.14). For the next financial year, analysts anticipate that the firm will report earnings of $0.60 per share, with EPS estimates ranging from $0.59 to $0.60. Zacks’ EPS averages are an average based on a survey of research analysts that cover Veeco Instruments.

Veeco Instruments (NASDAQ:VECO) last announced its quarterly earnings data on Monday, May 6th. The semiconductor company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.09. Veeco Instruments had a negative net margin of 84.86% and a negative return on equity of 3.17%. The firm had revenue of $99.37 million for the quarter, compared to analysts’ expectations of $96.75 million. During the same period last year, the firm earned $0.20 earnings per share. The business’s revenue for the quarter was down 37.3% on a year-over-year basis.

A number of equities analysts have issued reports on VECO shares. Zacks Investment Research cut shares of G1 Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. ValuEngine raised shares of XCel Brands from a “sell” rating to a “hold” rating in a research report on Tuesday, July 9th. BidaskClub cut shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. Benchmark reissued a “buy” rating and set a $305.00 price target (up from $295.00) on shares of NetEase in a research report on Thursday, May 16th. Finally, Northland Securities reissued a “buy” rating and set a $14.00 price target on shares of Veeco Instruments in a research report on Monday, May 6th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $14.25.

Several hedge funds and other institutional investors have recently made changes to their positions in VECO. D. E. Shaw & Co. Inc. boosted its position in shares of Veeco Instruments by 20.7% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,028,111 shares of the semiconductor company’s stock worth $7,618,000 after purchasing an additional 176,063 shares in the last quarter. Baillie Gifford & Co. boosted its position in shares of Veeco Instruments by 7.7% during the first quarter. Baillie Gifford & Co. now owns 1,634,793 shares of the semiconductor company’s stock worth $17,720,000 after purchasing an additional 116,207 shares in the last quarter. River & Mercantile Asset Management LLP boosted its position in shares of Veeco Instruments by 3.5% during the fourth quarter. River & Mercantile Asset Management LLP now owns 2,948,949 shares of the semiconductor company’s stock worth $21,837,000 after purchasing an additional 100,987 shares in the last quarter. California Public Employees Retirement System boosted its position in shares of Veeco Instruments by 24.6% during the first quarter. California Public Employees Retirement System now owns 443,909 shares of the semiconductor company’s stock worth $4,812,000 after purchasing an additional 87,689 shares in the last quarter. Finally, Two Sigma Investments LP boosted its position in shares of Veeco Instruments by 197.3% during the fourth quarter. Two Sigma Investments LP now owns 124,389 shares of the semiconductor company’s stock worth $922,000 after purchasing an additional 82,553 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors.

VECO stock traded up $0.24 during midday trading on Friday, reaching $11.89. The company’s stock had a trading volume of 5,446 shares, compared to its average volume of 336,363. Veeco Instruments has a 52 week low of $6.27 and a 52 week high of $16.30. The stock has a market capitalization of $567.01 million, a PE ratio of -297.50 and a beta of 1.25. The company has a debt-to-equity ratio of 0.69, a quick ratio of 2.34 and a current ratio of 3.32. The stock’s 50-day moving average price is $11.72.

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 worldwide. It offers metal organic chemical vapor deposition systems; packaging lithography equipment; precision surface processing systems; laser annealing systems; ion beam deposition and etch systems; molecular beam epitaxy systems; 3D wafer inspection systems; and atomic layer deposition and other deposition systems.

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