Veeco Instruments (NASDAQ:VECO – Get Free Report) issued its quarterly earnings results on Tuesday. The semiconductor company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.01), Briefing.com reports. The firm had revenue of $175.88 million during the quarter, compared to analysts’ expectations of $176.03 million. Veeco Instruments had a positive return on equity of 11.97% and a negative net margin of 2.51%. Veeco Instruments’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.21 earnings per share. Veeco Instruments updated its Q3 guidance to $0.39-0.49 EPS and its Q3 2024 guidance to 0.390-0.490 EPS.
Veeco Instruments Stock Performance
VECO traded down $2.15 during midday trading on Wednesday, reaching $32.97. The company had a trading volume of 925,510 shares, compared to its average volume of 622,788. The company has a quick ratio of 2.02, a current ratio of 3.05 and a debt-to-equity ratio of 0.36. The business has a 50-day moving average of $43.76 and a two-hundred day moving average of $38.45. The company has a market cap of $1.87 billion, a P/E ratio of -73.16 and a beta of 1.22. Veeco Instruments has a 1 year low of $23.63 and a 1 year high of $49.25.
Insiders Place Their Bets
In other Veeco Instruments news, Director Dennis Thomas St sold 4,000 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $37.72, for a total value of $150,880.00. Following the completion of the sale, the director now owns 51,861 shares in the company, valued at $1,956,196.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Dennis Thomas St sold 4,000 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $37.72, for a total transaction of $150,880.00. Following the completion of the sale, the director now owns 51,861 shares in the company, valued at $1,956,196.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John P. Kiernan sold 2,500 shares of the stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $48.46, for a total value of $121,150.00. Following the sale, the chief financial officer now owns 94,809 shares of the company’s stock, valued at approximately $4,594,444.14. The disclosure for this sale can be found here. Insiders sold a total of 39,000 shares of company stock worth $1,526,205 over the last quarter. 2.40% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Read Our Latest Research Report on Veeco Instruments
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.
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