Analysts Anticipate Veeco Instruments Inc. (NASDAQ:VECO) Will Post Quarterly Sales of $101.20 Million

Equities analysts forecast that Veeco Instruments Inc. (NASDAQ:VECO) will post sales of $101.20 million for the current quarter, according to Zacks. Two analysts have provided estimates for Veeco Instruments’ earnings, with the lowest sales estimate coming in at $100.40 million and the highest estimate coming in at $102.00 million. Veeco Instruments reported sales of $157.78 million in the same quarter last year, which would suggest a negative year over year growth rate of 35.9%. The company is expected to issue its next quarterly earnings report after the market closes on Monday, August 5th.

According to Zacks, analysts expect that Veeco Instruments will report full year sales of $419.70 million for the current fiscal year, with estimates ranging from $418.00 million to $421.40 million. For the next year, analysts forecast that the firm will report sales of $490.00 million, with estimates ranging from $485.00 million to $495.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Veeco Instruments.

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



VECO has been the subject of several recent analyst reports. Benchmark restated a “buy” rating and issued a $305.00 target price (up previously from $295.00) on shares of NetEase in a research report on Thursday, May 16th. Zacks Investment Research cut shares of G1 Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. Northland Securities restated a “buy” rating and issued a $14.00 target price on shares of Veeco Instruments in a research report on Monday, May 6th. ValuEngine upgraded shares of XCel Brands from a “sell” rating to a “hold” rating in a research report on Tuesday, July 9th. Finally, BidaskClub cut shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Veeco Instruments has a consensus rating of “Hold” and a consensus target price of $14.25.

NASDAQ VECO traded down $0.02 on Friday, hitting $11.80. The stock had a trading volume of 408,287 shares, compared to its average volume of 362,420. Veeco Instruments has a one year low of $6.27 and a one year high of $15.75. 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 has a market cap of $574.36 million, a PE ratio of -295.00 and a beta of 1.25. The firm’s 50-day simple moving average is $11.71.

A number of hedge funds and other institutional investors have recently bought and sold shares of VECO. Geode Capital Management LLC boosted its holdings in shares of Veeco Instruments by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 565,660 shares of the semiconductor company’s stock valued at $4,191,000 after acquiring an additional 15,139 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in shares of Veeco Instruments by 7.7% in the first quarter. Baillie Gifford & Co. now owns 1,634,793 shares of the semiconductor company’s stock valued at $17,720,000 after acquiring an additional 116,207 shares in the last quarter. Texas Permanent School Fund boosted its holdings in shares of Veeco Instruments by 4.3% in the first quarter. Texas Permanent School Fund now owns 32,618 shares of the semiconductor company’s stock valued at $354,000 after acquiring an additional 1,343 shares in the last quarter. Oregon Public Employees Retirement Fund bought a new position in shares of Veeco Instruments in the fourth quarter valued at approximately $135,000. Finally, Neuburgh Advisers LLC boosted its holdings in shares of Veeco Instruments by 47.2% in the fourth quarter. Neuburgh Advisers LLC now owns 7,040 shares of the semiconductor company’s stock valued at $52,000 after acquiring an additional 2,256 shares in the last quarter. Hedge funds and other institutional investors own 91.28% 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 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.

Further Reading: Institutional Investors

Get a free copy of the Zacks research report on Veeco Instruments (VECO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Veeco Instruments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veeco Instruments and related companies with MarketBeat.com's FREE daily email newsletter.