Veeco Instruments (VECO) Projected to Post Earnings on Wednesday

Veeco Instruments (NASDAQ:VECO) is projected to announce its earnings results after the market closes on Wednesday, February 12th. Analysts expect the company to announce earnings of $0.40 per share and revenue of $176.26 million for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Veeco Instruments Stock Performance

Veeco Instruments stock opened at $24.62 on Tuesday. Veeco Instruments has a fifty-two week low of $23.24 and a fifty-two week high of $49.25. The firm’s fifty day moving average price is $26.95 and its 200-day moving average price is $30.28. The stock has a market cap of $1.40 billion, a P/E ratio of 18.24 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.

Insiders Place Their Bets

In other Veeco Instruments news, CFO John P. Kiernan sold 2,500 shares of the business’s 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. 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. StockNews.com upgraded Veeco Instruments from a “sell” rating to a “hold” rating in a research report on Friday, December 6th. Benchmark cut their target price on Veeco Instruments from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Oppenheimer reissued an “outperform” rating and set a $35.00 price target (down from $40.00) on shares of Veeco Instruments in a research note on Friday. Finally, The Goldman Sachs Group cut their price objective on shares of Veeco Instruments from $35.00 to $30.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Veeco Instruments presently has a consensus rating of “Moderate Buy” and an average target price of $39.00.

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 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.