Veeco Instruments (NASDAQ:VECO) updated its third quarter earnings guidance on Monday. The company provided EPS guidance of ($0.10)-$0.10 for the period, compared to the Thomson Reuters consensus EPS estimate of ($0.01). The company issued revenue guidance of $95-$115 million, compared to the consensus revenue estimate of $107.67 million.Veeco Instruments also updated its Q3 2019 guidance to $-0.1-0.10 EPS.
Several brokerages recently commented on VECO. BidaskClub cut shares of Veeco Instruments from a hold rating to a sell rating in a report on Thursday, July 11th. Benchmark reiterated a buy rating and issued a $15.00 price target on shares of Veeco Instruments in a research note on Thursday, May 16th. Zacks Investment Research cut shares of Veeco Instruments from a buy rating to a hold rating in a research note on Friday. Northland Securities reiterated a buy rating and issued a $14.00 price target on shares of Veeco Instruments in a research note on Monday, May 6th. Finally, ValuEngine upgraded shares of Veeco Instruments from a sell rating to a hold rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $14.25.
VECO stock traded down $0.81 during trading hours on Monday, reaching $10.96. The stock had a trading volume of 333,816 shares, compared to its average volume of 335,016. The company has a market capitalization of $528.07 million, a PE ratio of -274.00 and a beta of 1.24. The company has a quick ratio of 2.34, a current ratio of 3.32 and a debt-to-equity ratio of 0.69. The company’s 50-day moving average is $11.81. Veeco Instruments has a fifty-two week low of $6.27 and a fifty-two week high of $15.00.
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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