Veeco Instruments (NASDAQ:VECO – Get Free Report) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.380-0.480 for the period, compared to the consensus 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 Stock Performance
VECO stock traded down $1.22 during trading on Thursday, hitting $38.07. The company had a trading volume of 613,124 shares, compared to its average volume of 529,129. The firm has a 50-day moving average price of $35.34 and a 200-day moving average price of $31.91. The company has a quick ratio of 2.15, a current ratio of 3.24 and a debt-to-equity ratio of 0.41. The firm has a market cap of $2.15 billion, a PE ratio of -59.02 and a beta of 1.18. Veeco Instruments has a 1-year low of $20.42 and a 1-year high of $40.30.
Veeco Instruments (NASDAQ:VECO – Get Free Report) last released its earnings results on Wednesday, February 14th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.09. Veeco Instruments had a positive return on equity of 11.10% and a negative net margin of 4.56%. The business had revenue of $173.92 million for the quarter, compared to analyst estimates of $170.00 million. On average, analysts expect that Veeco Instruments will post 1.39 earnings per share for the current year.
Analyst Ratings Changes
Check Out Our Latest Stock Analysis on Veeco Instruments
Insider Activity at Veeco Instruments
In other Veeco Instruments news, SVP Adrian Devasahayam sold 5,000 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $34.10, for a total transaction of $170,500.00. Following the sale, the senior vice president now directly owns 67,278 shares in the company, valued at $2,294,179.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Veeco Instruments news, SVP Adrian Devasahayam sold 5,000 shares of Veeco Instruments stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $34.10, for a total transaction of $170,500.00. Following the completion of the transaction, the senior vice president now owns 67,278 shares in the company, valued at $2,294,179.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William John Miller sold 24,201 shares of the stock in a transaction that occurred on 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 in the company, valued at $19,241,712.30. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by company insiders.
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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