Veeco Instruments (NASDAQ:VECO) Announces Earnings Results, Beats Expectations By $0.12 EPS

Veeco Instruments (NASDAQ:VECO) released its earnings results on Thursday. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.12, Fidelity Earnings reports. Veeco Instruments had a negative net margin of 47.03% and a negative return on equity of 6.97%. The firm had revenue of $113.20 million during the quarter, compared to the consensus estimate of $109.90 million. Veeco Instruments updated its Q1 2020
After-Hours guidance to 0.00-0.22 EPS and its Q1 guidance to $0.00-0.22 EPS.

VECO traded up $1.71 during trading on Friday, hitting $18.08. 972,983 shares of the company’s stock were exchanged, compared to its average volume of 281,667. The company has a current ratio of 3.42, a quick ratio of 2.47 and a debt-to-equity ratio of 0.75. Veeco Instruments has a 1 year low of $8.98 and a 1 year high of $19.21. The stock has a 50 day moving average price of $14.84 and a 200 day moving average price of $13.03. The firm has a market cap of $800.54 million, a P/E ratio of -4.42 and a beta of 1.33.

VECO has been the subject of a number of recent analyst reports. ValuEngine upgraded shares of Veeco Instruments from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. Northland Securities restated a “buy” rating and issued a $19.00 target price on shares of Veeco Instruments in a report on Friday, November 29th. BidaskClub downgraded shares of Veeco Instruments from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 1st. Benchmark reiterated a “buy” rating and set a $20.00 price objective on shares of Veeco Instruments in a research note on Friday. Finally, Zacks Investment Research downgraded shares of Veeco Instruments from a “strong-buy” rating to a “hold” rating in a research note on Saturday, January 11th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $17.25.

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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Earnings History for Veeco Instruments (NASDAQ:VECO)

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