$97.50 Million in Sales Expected for Veeco Instruments Inc. (VECO) This Quarter

Equities analysts expect Veeco Instruments Inc. (NASDAQ:VECO) to report sales of $97.50 million for the current quarter, Zacks reports. Two analysts have made estimates for Veeco Instruments’ earnings, with the highest sales estimate coming in at $100.00 million and the lowest estimate coming in at $95.00 million. Veeco Instruments posted sales of $158.57 million in the same quarter last year, which suggests a negative year over year growth rate of 38.5%. The company is expected to issue its next earnings report after the market closes on Monday, May 6th.

On average, analysts expect that Veeco Instruments will report full-year sales of $422.00 million for the current year, with estimates ranging from $410.00 million to $434.00 million. For the next financial year, analysts anticipate that the business will post sales of $537.00 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Veeco Instruments.

Veeco Instruments (NASDAQ:VECO) last released its earnings results on Monday, February 11th. The semiconductor company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.01). Veeco Instruments had a negative net margin of 75.10% and a negative return on equity of 0.31%. The firm had revenue of $98.97 million during the quarter, compared to the consensus estimate of $95.95 million.

Several equities analysts have commented on VECO shares. BidaskClub raised shares of Veeco Instruments from a “sell” rating to a “hold” rating in a report on Thursday, December 27th. ValuEngine lowered shares of Veeco Instruments from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. Zacks Investment Research raised shares of Veeco Instruments from a “hold” rating to a “buy” rating and set a $8.75 target price on the stock in a report on Saturday, January 5th. Benchmark restated a “hold” rating on shares of Veeco Instruments in a research note on Tuesday, February 12th. Finally, Stifel Nicolaus downgraded shares of Veeco Instruments from a “buy” rating to a “hold” rating and set a $12.00 price target on the stock. in a research note on Wednesday, March 6th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $20.67.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in shares of Veeco Instruments by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 565,660 shares of the semiconductor company’s stock valued at $4,191,000 after purchasing an additional 15,139 shares in the last quarter. Norges Bank acquired a new stake in shares of Veeco Instruments in the 4th quarter valued at approximately $563,000. River & Mercantile Asset Management LLP boosted its stake in shares of Veeco Instruments by 3.5% in the 4th quarter. River & Mercantile Asset Management LLP now owns 2,948,949 shares of the semiconductor company’s stock valued at $21,837,000 after purchasing an additional 100,987 shares in the last quarter. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Veeco Instruments in the 4th quarter valued at approximately $102,000. Finally, Metropolitan Life Insurance Co. NY boosted its stake in shares of Veeco Instruments by 387.8% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 15,672 shares of the semiconductor company’s stock valued at $116,000 after purchasing an additional 12,459 shares in the last quarter. Institutional investors own 92.70% of the company’s stock.

VECO stock traded down $0.13 during mid-day trading on Friday, hitting $12.65. The stock had a trading volume of 191,483 shares, compared to its average volume of 334,330. The company has a quick ratio of 2.27, a current ratio of 3.25 and a debt-to-equity ratio of 0.66. Veeco Instruments has a 52 week low of $6.27 and a 52 week high of $19.50. The firm has a market cap of $607.63 million, a P/E ratio of -316.25 and a beta of 1.26.

About Veeco Instruments

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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