Veeco Instruments Inc. (NASDAQ:VECO) Expected to Post Q4 2021 Earnings of $0.29 Per Share

Veeco Instruments Inc. (NASDAQ:VECO) – Stock analysts at Oppenheimer boosted their Q4 2021 earnings per share (EPS) estimates for Veeco Instruments in a research note issued to investors on Tuesday, January 11th. Oppenheimer analyst R. Schafer now anticipates that the semiconductor company will post earnings per share of $0.29 for the quarter, up from their prior estimate of $0.28. Oppenheimer has a “Outperform” rating and a $38.00 price target on the stock. Oppenheimer also issued estimates for Veeco Instruments’ Q1 2022 earnings at $0.30 EPS and Q3 2022 earnings at $0.38 EPS.

Several other research firms have also recently weighed in on VECO. Northland Securities reissued an “outperform” rating and issued a $32.00 price objective on shares of Veeco Instruments in a research report on Tuesday, December 28th. Benchmark raised their target price on Veeco Instruments from $28.00 to $35.00 in a research report on Wednesday. Barclays raised their target price on Veeco Instruments from $27.00 to $35.00 in a research report on Wednesday. Zacks Investment Research cut Veeco Instruments from a “buy” rating to a “hold” rating in a research report on Wednesday, November 10th. Finally, Stifel Nicolaus raised their target price on Veeco Instruments from $30.00 to $33.00 in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Veeco Instruments presently has a consensus rating of “Buy” and a consensus price target of $33.14.

VECO opened at $31.99 on Friday. Veeco Instruments has a 1-year low of $18.22 and a 1-year high of $32.40. The company has a current ratio of 3.49, a quick ratio of 2.58 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 94.09 and a beta of 1.39. The business has a 50 day moving average of $27.34 and a 200-day moving average of $24.34.

Veeco Instruments (NASDAQ:VECO) last posted its quarterly earnings data on Tuesday, November 2nd. The semiconductor company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.12. Veeco Instruments had a return on equity of 12.16% and a net margin of 3.12%. The company had revenue of $150.25 million during the quarter, compared to analysts’ expectations of $146.63 million. During the same period in the prior year, the business earned $0.16 earnings per share.

In other Veeco Instruments news, Director Peter J. Simone sold 6,451 shares of Veeco Instruments stock in a transaction on Monday, November 8th. The stock was sold at an average price of $27.08, for a total transaction of $174,693.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Susan Wilkerson sold 1,896 shares of Veeco Instruments stock in a transaction on Friday, December 3rd. The shares were sold at an average price of $26.14, for a total value of $49,561.44. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in the company. Diversified Trust Co increased its stake in shares of Veeco Instruments by 7.7% in the fourth quarter. Diversified Trust Co now owns 10,202 shares of the semiconductor company’s stock valued at $290,000 after buying an additional 726 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of Veeco Instruments by 19.7% in the third quarter. UBS Asset Management Americas Inc. now owns 66,535 shares of the semiconductor company’s stock valued at $1,478,000 after buying an additional 10,927 shares in the last quarter. Comerica Bank increased its stake in shares of Veeco Instruments by 97.4% in the third quarter. Comerica Bank now owns 92,422 shares of the semiconductor company’s stock valued at $2,004,000 after buying an additional 45,608 shares in the last quarter. Bank of New York Mellon Corp increased its position in Veeco Instruments by 2.1% in the third quarter. Bank of New York Mellon Corp now owns 477,452 shares of the semiconductor company’s stock worth $10,605,000 after purchasing an additional 9,738 shares during the period. Finally, BNP Paribas Arbitrage SA increased its position in Veeco Instruments by 123.1% in the third quarter. BNP Paribas Arbitrage SA now owns 54,260 shares of the semiconductor company’s stock worth $1,205,000 after purchasing an additional 29,943 shares during the period. Institutional investors own 96.93% of the company’s stock.

Veeco Instruments Company Profile

Veeco Instruments, Inc engages in the development, manufacture, sale and support of semiconductor process equipment. Its technologies consists of metal organic chemical vapor deposition, advanced packaging lithography, wet etch and clean, laser annealing, ion beam, molecular beam epitaxy, wafer inspection, and atomic layer deposition systems.

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