Veeco Instruments Inc. (NASDAQ:VECO) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of ($0.09)-$0.09 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.39. The company issued revenue guidance of $125-145 million, compared to the consensus revenue estimate of $169.36 million.

Veeco Instruments Inc. (NASDAQ VECO) traded down 24.13% during midday trading on Friday, reaching $21.85. The company had a trading volume of 2,995,331 shares. The stock’s market capitalization is $886.63 million. Veeco Instruments Inc. has a one year low of $18.23 and a one year high of $34.38. The company has a 50-day moving average price of $30.08 and a 200-day moving average price of $29.56.

Veeco Instruments (NASDAQ:VECO) last released its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.03. The business had revenue of $115.07 million during the quarter, compared to analyst estimates of $110.87 million. Veeco Instruments had a negative return on equity of 1.47% and a negative net margin of 23.65%. Veeco Instruments’s quarterly revenue was up 52.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.19) EPS. On average, equities analysts expect that Veeco Instruments Inc. will post $1.06 earnings per share for the current year.

VECO has been the subject of a number of recent analyst reports. Stifel Nicolaus reaffirmed a buy rating and set a $38.00 price target (up previously from $36.00) on shares of Veeco Instruments in a research report on Friday, July 21st. Benchmark Co. reaffirmed a buy rating and set a $39.00 price target on shares of Veeco Instruments in a research report on Friday, April 21st. J P Morgan Chase & Co raised Veeco Instruments from a neutral rating to an overweight rating and upped their price target for the company from $35.00 to $39.00 in a research report on Tuesday, June 13th. Deutsche Bank AG lowered Veeco Instruments from a buy rating to a hold rating and lowered their price target for the company from $35.00 to $30.00 in a research report on Friday. Finally, BidaskClub lowered Veeco Instruments from a hold rating to a sell rating in a research report on Saturday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $34.00.

In other Veeco Instruments news, President William John Miller sold 8,481 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $31.51, for a total transaction of $267,236.31. Following the transaction, the president now owns 69,792 shares in the company, valued at approximately $2,199,145.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John P. Kiernan sold 8,836 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $32.44, for a total value of $286,639.84. Following the transaction, the senior vice president now owns 23,211 shares in the company, valued at approximately $752,964.84. The disclosure for this sale can be found here. Insiders have sold a total of 21,574 shares of company stock worth $689,717 in the last quarter. Company insiders own 2.90% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This piece of content was posted by Daily Political and is the property of of Daily Political. If you are viewing this piece of content on another website, it was illegally copied and republished in violation of international copyright legislation. The correct version of this piece of content can be accessed at https://www.dailypolitical.com/2017/08/05/veeco-instruments-inc-nasdaqveco-updates-q3-earnings-guidance.html.

Veeco Instruments Company Profile

Veeco Instruments Inc is engaged in the design, development, manufacture and support of thin film process equipment, primarily sold to make electronic devices. The Company’s geographical segments include the United States; China; Europe, Middle East and Africa (EMEA), and Rest of World (ROW). The Company’s portfolio of technology solutions focus on market areas, including Lighting, Display & Power Electronics; Advanced Packaging, micro-electromechanical systems (MEMS) & radio frequency (RF); Scientific & Industrial, and Data Storage.

Receive News & Ratings for Veeco Instruments Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veeco Instruments Inc. and related companies with MarketBeat.com's FREE daily email newsletter.