Veeco Instruments (NASDAQ:VECO – Get Free Report) updated its fourth quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.36-$0.44 for the period, compared to the consensus EPS estimate of $0.40. The company issued revenue guidance of $175-$185 million, compared to the consensus revenue estimate of $176.08 million. Veeco Instruments also updated its FY 2024 guidance to 1.070-1.260 EPS.
Veeco Instruments Stock Down 2.1 %
Shares of NASDAQ:VECO opened at $26.13 on Tuesday. The firm has a market capitalization of $1.48 billion, a PE ratio of 19.36 and a beta of 1.15. The business has a 50 day simple moving average of $27.72 and a two-hundred day simple moving average of $33.02. Veeco Instruments has a 1 year low of $25.52 and a 1 year high of $49.25. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.54 and a quick ratio of 2.41.
Veeco Instruments (NASDAQ:VECO – Get Free Report) last released its earnings results on Wednesday, November 6th. The semiconductor company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.01. The business had revenue of $184.80 million during the quarter, compared to the consensus estimate of $180.57 million. Veeco Instruments had a return on equity of 10.92% and a net margin of 11.34%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the company earned $0.41 earnings per share. On average, equities analysts predict that Veeco Instruments will post 1.12 EPS for the current year.
Analyst Upgrades and Downgrades
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Insider Buying and Selling
In other Veeco Instruments news, CFO John P. Kiernan sold 2,500 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $27.63, for a total value of $69,075.00. Following the completion of the sale, the chief financial officer now owns 75,142 shares of the company’s stock, valued at approximately $2,076,173.46. This trade represents a 3.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.40% of the stock is currently owned by company insiders.
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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