Equities research analysts expect Veeco Instruments Inc. (NASDAQ:VECO) to announce sales of $151.53 million for the current quarter, according to Zacks. Three analysts have provided estimates for Veeco Instruments’ earnings. The highest sales estimate is $153.50 million and the lowest is $148.48 million. Veeco Instruments posted sales of $94.39 million in the same quarter last year, which suggests a positive year over year growth rate of 60.5%. The business is expected to issue its next quarterly earnings results on Thursday, May 3rd.

On average, analysts expect that Veeco Instruments will report full year sales of $151.53 million for the current financial year, with estimates ranging from $620.10 million to $650.00 million. For the next financial year, analysts anticipate that the firm will report sales of $642.40 million per share. Zacks’ sales averages are an average based on a survey of analysts that cover Veeco Instruments.

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Veeco Instruments (NASDAQ:VECO) last issued its quarterly earnings data on Monday, February 12th. The semiconductor company reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.10. The business had revenue of $143.40 million during the quarter, compared to the consensus estimate of $143.85 million. Veeco Instruments had a negative net margin of 9.24% and a negative return on equity of 0.12%. The firm’s revenue was up 53.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.09 EPS.

Several equities analysts recently commented on VECO shares. BidaskClub downgraded shares of Veeco Instruments from a “sell” rating to a “strong sell” rating in a research note on Thursday, December 7th. Zacks Investment Research downgraded shares of Veeco Instruments from a “hold” rating to a “sell” rating in a research note on Saturday, January 6th. Finally, TheStreet raised shares of Veeco Instruments from a “d+” rating to a “c” rating in a research note on Monday, March 12th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $28.67.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. MetLife Investment Advisors LLC acquired a new position in Veeco Instruments in the 4th quarter valued at approximately $330,000. Millennium Management LLC acquired a new position in Veeco Instruments in the 4th quarter valued at approximately $154,000. GCA Investment Management LLC acquired a new position in Veeco Instruments in the 4th quarter valued at approximately $7,262,000. Two Sigma Investments LP increased its position in Veeco Instruments by 2,081.1% in the 4th quarter. Two Sigma Investments LP now owns 488,609 shares of the semiconductor company’s stock valued at $7,256,000 after acquiring an additional 466,207 shares during the period. Finally, Two Sigma Advisers LP increased its position in Veeco Instruments by 1,146.7% in the 4th quarter. Two Sigma Advisers LP now owns 310,891 shares of the semiconductor company’s stock valued at $4,617,000 after acquiring an additional 285,954 shares during the period. Hedge funds and other institutional investors own 99.79% of the company’s stock.

Shares of Veeco Instruments (NASDAQ:VECO) traded down $0.65 during trading hours on Friday, reaching $18.40. 567,386 shares of the company traded hands, compared to its average volume of 683,763. The company has a market cap of $895.14, a P/E ratio of -18.59 and a beta of 0.64. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.13 and a current ratio of 2.67. Veeco Instruments has a fifty-two week low of $10.85 and a fifty-two week high of $34.38.

Veeco Instruments declared that its Board of Directors has initiated a stock buyback plan on Monday, December 11th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the semiconductor company to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

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About Veeco Instruments

Veeco Instruments Inc is engaged in the design, development, manufacture and support of thin film process equipment, primarily sold to make electronic devices. The Company’s geographical segments include the United States; China; Europe, Middle East and Africa (EMEA), and Rest of World (ROW). The Company’s portfolio of technology solutions focus on market areas, including Lighting, Display & Power Electronics; Advanced Packaging, micro-electromechanical systems (MEMS) & radio frequency (RF); Scientific & Industrial, and Data Storage.

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