Veeco Instruments (VECO) Receiving Somewhat Favorable Press Coverage, Report Shows
News headlines about Veeco Instruments (NASDAQ:VECO) have been trending somewhat positive this week, according to Accern. The research group identifies positive and negative media coverage by reviewing more than twenty million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Veeco Instruments earned a coverage optimism score of 0.09 on Accern’s scale. Accern also gave media coverage about the semiconductor company an impact score of 45.2737694396168 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
Veeco Instruments (VECO) opened at $14.55 on Thursday. The firm has a market capitalization of $707.62, a P/E ratio of -14.55 and a beta of 0.72. Veeco Instruments has a 1 year low of $10.85 and a 1 year high of $34.38. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.11 and a current ratio of 2.61.
Veeco Instruments (NASDAQ:VECO) last posted its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $0.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.16. The firm had revenue of $131.87 million for the quarter, compared to analyst estimates of $134.97 million. Veeco Instruments had a negative return on equity of 0.73% and a negative net margin of 10.16%. The business’s quarterly revenue was up 54.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.05) EPS. sell-side analysts forecast that Veeco Instruments will post -0.01 earnings per share for the current fiscal year.
Veeco Instruments declared that its board has authorized a share repurchase program on Monday, December 11th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the semiconductor company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
VECO has been the topic of several research reports. Needham & Company LLC restated a “buy” rating and issued a $22.00 target price on shares of Veeco Instruments in a research note on Friday, November 3rd. ValuEngine lowered Veeco Instruments from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. BidaskClub lowered Veeco Instruments from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 7th. Zacks Investment Research lowered Veeco Instruments from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. Finally, Deutsche Bank set a $21.00 price target on Veeco Instruments and gave the stock a “hold” rating in a research report on Wednesday, August 30th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. Veeco Instruments has an average rating of “Hold” and an average target price of $29.22.
In other Veeco Instruments news, CEO John R. Peeler bought 36,200 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The shares were acquired at an average cost of $13.81 per share, with a total value of $499,922.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President William John Miller bought 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The shares were acquired at an average cost of $13.75 per share, for a total transaction of $206,250.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 63,700 shares of company stock worth $877,472 over the last three months. 2.90% of the stock is owned by insiders.
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About Veeco Instruments
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.
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