Veeco Instruments (NASDAQ:VECO – Get Free Report) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.380-0.480 for the period, compared to the consensus EPS estimate of 0.430. The company issued revenue guidance of $165.0 million-$185.0 million, compared to the consensus revenue estimate of $174.9 million.
Veeco Instruments Trading Down 3.1 %
VECO traded down $1.22 on Thursday, reaching $38.07. 613,124 shares of the company’s stock were exchanged, compared to its average volume of 529,129. Veeco Instruments has a twelve month low of $20.42 and a twelve month high of $40.30. The company’s 50 day moving average is $35.34 and its 200-day moving average is $31.91. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.15 and a current ratio of 3.24. The company has a market cap of $2.15 billion, a price-to-earnings ratio of -59.02 and a beta of 1.18.
Veeco Instruments (NASDAQ:VECO – Get Free Report) last issued its earnings results on Wednesday, February 14th. The semiconductor company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.09. Veeco Instruments had a negative net margin of 4.56% and a positive return on equity of 11.10%. The business had revenue of $173.92 million for the quarter, compared to the consensus estimate of $170.00 million. Equities analysts predict that Veeco Instruments will post 1.39 earnings per share for the current year.
Analysts Set New Price Targets
Check Out Our Latest Analysis on VECO
Insider Buying and Selling
In related news, CEO William John Miller sold 24,201 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $35.30, for a total transaction of $854,295.30. Following the sale, the chief executive officer now directly owns 545,091 shares of the company’s stock, valued at approximately $19,241,712.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO William John Miller sold 24,201 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $35.30, for a total transaction of $854,295.30. Following the completion of the sale, the chief executive officer now owns 545,091 shares of the company’s stock, valued at approximately $19,241,712.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Adrian Devasahayam sold 5,000 shares of Veeco Instruments stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $34.10, for a total value of $170,500.00. Following the completion of the transaction, the senior vice president now owns 67,278 shares of the company’s stock, valued at $2,294,179.80. The disclosure for this sale can be found here. Insiders own 2.20% 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 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.
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