Veeco Instruments (NASDAQ:VECO) Updates Q4 Earnings Guidance

Veeco Instruments (NASDAQ:VECO) updated its fourth quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.36-$0.44 for the period, compared to the consensus EPS estimate of $0.40. The company issued revenue guidance of $175-$185 million, compared to the consensus revenue estimate of $176.08 million.

Veeco Instruments Price Performance

Shares of NASDAQ VECO opened at $26.13 on Tuesday. Veeco Instruments has a 1-year low of $25.52 and a 1-year high of $49.25. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.54 and a quick ratio of 2.41. The stock has a fifty day moving average price of $27.72 and a 200 day moving average price of $33.02. The company has a market cap of $1.48 billion, a PE ratio of 19.36 and a beta of 1.15.

Veeco Instruments (NASDAQ:VECO) last released its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.45 by $0.01. Veeco Instruments had a net margin of 11.34% and a return on equity of 10.92%. The business had revenue of $184.80 million for the quarter, compared to analyst estimates of $180.57 million. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.41 EPS. Sell-side analysts forecast that Veeco Instruments will post 1.12 EPS for the current year.

Analyst Ratings Changes

VECO has been the topic of a number of research reports. Benchmark cut their target price on shares of Veeco Instruments from $42.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Oppenheimer cut their price target on Veeco Instruments from $45.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Citigroup upgraded shares of Veeco Instruments from a “neutral” rating to a “buy” rating and set a $33.00 price objective on the stock in a research note on Monday, January 6th. StockNews.com raised shares of Veeco Instruments from a “sell” rating to a “hold” rating in a research report on Friday, December 6th. Finally, The Goldman Sachs Group lowered their price objective on Veeco Instruments from $35.00 to $30.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $39.71.

Insider Buying and Selling

In related news, CFO John P. Kiernan sold 2,500 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $27.63, for a total value of $69,075.00. Following the completion of the transaction, the chief financial officer now owns 75,142 shares in the company, valued at $2,076,173.46. This represents a 3.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.40% 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.