Veeco Instruments Inc., together with its subsidiaries, develops, manufactures, sells, and supports semiconductor and thin film process equipment primarily to make electronic devices worldwide. 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, and atomic layer deposition and other deposition systems, as well as packaging lithography equipment. Its process equipment systems are used in the production of a range of microelectronic components, including logic, dynamic random-access memory, photonics devices, power electronics, radio frequency filters and amplifiers, magnetic heads for hard disk drives, and other semiconductor devices. In addition, the company markets and sells its products to integrated device manufacturers and foundries; outsourced semiconductor assembly and test, hard disk drive, and photonics manufacturers; and research centers and universities. Veeco Instruments Inc. was founded in 1945 and is headquartered in Plainview, New York.
Veeco Instruments Trading Down 0.5 %
VECO Stock traded down $0.12 during trading on Tuesday, hitting $23.02. 209,603 shares of the company traded hands, compared to its average volume of 466,715. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.96 and a current ratio of 2.84. Veeco Instruments has a 1 year low of $17.23 and a 1 year high of $32.40. The company has a 50-day moving average of $20.12 and a 200-day moving average of $23.55. The firm has a market capitalization of $1.18 billion, a PE ratio of 30.99 and a beta of 1.33.
Veeco Instruments (NASDAQ:VECO - Get Rating) last issued its earnings results on Monday, August 8th. The semiconductor company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.28 by $0.07. Veeco Instruments had a net margin of 6.44% and a return on equity of 16.23%. The company had revenue of $164.00 million for the quarter, compared to the consensus estimate of $160.91 million. During the same period in the previous year, the firm earned $0.26 earnings per share. The firm's revenue for the quarter was up 12.1% on a year-over-year basis. Analysts predict that Veeco Instruments will post 1.25 earnings per share for the current fiscal year.
Analysts Set New Price Targets
VECO has been the topic of several recent research reports. The Goldman Sachs Group reduced their price objective on Veeco Instruments from $28.00 to $24.00 and set a "neutral" rating on the stock in a research report on Tuesday, August 9th. Oppenheimer cut their target price on Veeco Instruments from $40.00 to $35.00 in a research note on Thursday, May 5th. Finally, Barclays lowered their price objective on shares of Veeco Instruments from $32.00 to $26.00 and set an "overweight" rating for the company in a report on Monday, July 25th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $30.83.