Veeco Instruments (NASDAQ:VECO) Issues Quarterly Earnings Results

Veeco Instruments (NASDAQ:VECO) released its quarterly earnings results on Wednesday. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.14), Zacks reports. Veeco Instruments had a net margin of 11.34% and a return on equity of 10.92%.

Veeco Instruments Trading Down 0.1 %

Shares of VECO stock traded down $0.03 during trading hours on Wednesday, hitting $23.65. 877,830 shares of the company were exchanged, compared to its average volume of 666,269. The company has a 50 day simple moving average of $26.84 and a two-hundred day simple moving average of $30.17. The firm has a market cap of $1.34 billion, a P/E ratio of 17.52 and a beta of 1.13. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.41 and a current ratio of 3.54. Veeco Instruments has a fifty-two week low of $23.00 and a fifty-two week high of $49.25.

Insider Activity at Veeco Instruments

In other Veeco Instruments news, CFO John P. Kiernan sold 2,500 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $27.63, for a total transaction of $69,075.00. Following the completion of the sale, the chief financial officer now owns 75,142 shares in the company, valued at approximately $2,076,173.46. The trade was a 3.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on VECO. The Goldman Sachs Group decreased 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. Citigroup raised Veeco Instruments from a “neutral” rating to a “buy” rating and set a $33.00 price target for the company in a research note on Monday, January 6th. Benchmark cut their price objective on Veeco Instruments from $42.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. StockNews.com upgraded Veeco Instruments from a “sell” rating to a “hold” rating in a report on Friday, December 6th. Finally, Oppenheimer restated an “outperform” rating and set a $35.00 price target (down previously from $40.00) on shares of Veeco Instruments in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $39.00.

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 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.