News stories about Veeco Instruments (NASDAQ:VECO) have been trending somewhat positive recently, according to Accern. Accern identifies positive and negative press coverage by reviewing more than 20 million news and blog sources in real time. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Veeco Instruments earned a media sentiment score of 0.10 on Accern’s scale. Accern also assigned news stories about the semiconductor company an impact score of 45.2291776682678 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
A number of research analysts recently issued reports on VECO shares. BidaskClub lowered shares of Veeco Instruments from a “sell” rating to a “strong sell” rating in a report on Thursday, December 7th. Zacks Investment Research downgraded shares of Veeco Instruments from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. Benchmark reissued a “buy” rating and set a $23.00 target price on shares of Veeco Instruments in a research report on Friday, November 3rd. Needham & Company LLC reissued a “buy” rating and set a $22.00 target price on shares of Veeco Instruments in a research report on Friday, November 3rd. Finally, KeyCorp downgraded shares of Veeco Instruments to a “hold” rating in a research report on Wednesday, October 25th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $29.88.
Shares of Veeco Instruments (VECO) opened at $16.90 on Friday. The company has a market cap of $792.15, a P/E ratio of -16.90 and a beta of 0.73. Veeco Instruments has a 52-week low of $10.85 and a 52-week high of $34.38. The company has a current ratio of 2.61, a quick ratio of 2.11 and a debt-to-equity ratio of 0.32.
Veeco Instruments (NASDAQ:VECO) last announced its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.16. The company had revenue of $131.87 million during the quarter, compared to the consensus estimate of $134.97 million. Veeco Instruments had a negative net margin of 10.16% and a negative return on equity of 0.73%. The company’s quarterly revenue was up 54.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.05) EPS. research analysts expect that Veeco Instruments will post -0.01 earnings per share for the current year.
Veeco Instruments declared that its Board of Directors has initiated a share repurchase program on Monday, December 11th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the semiconductor company to purchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
In other news, SVP John P. Kiernan bought 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The shares were bought at an average cost of $13.65 per share, for a total transaction of $68,250.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President William John Miller bought 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was purchased at an average price of $13.75 per share, for a total transaction of $206,250.00. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 63,700 shares of company stock worth $877,472. 2.90% of the stock is owned by company 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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