Veeco Instruments (NASDAQ:VECO) updated its first quarter earnings guidance on Monday. The company provided earnings per share (EPS) guidance of ($0.04) to $0.14 for the period, compared to the Thomson Reuters consensus estimate of $0.01. The company issued revenue guidance of $140-$165 million, compared to the consensus revenue estimate of $157.66 million.

A number of research firms have recently weighed in on VECO. Benchmark reiterated a buy rating and issued a $23.00 price target on shares of Veeco Instruments in a research report on Friday, November 3rd. KeyCorp downgraded shares of Veeco Instruments to a hold rating in a research report on Wednesday, October 25th. Zacks Investment Research downgraded shares of Veeco Instruments from a hold rating to a sell rating in a research report on Tuesday, November 7th. BidaskClub downgraded shares of Veeco Instruments from a sell rating to a strong sell rating in a research report on Thursday, December 7th. Finally, Needham & Company LLC reiterated a buy rating and issued a $22.00 price target on shares of Veeco Instruments in a research report on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $28.67.

Shares of Veeco Instruments (VECO) opened at $15.10 on Tuesday. Veeco Instruments has a 1 year low of $10.85 and a 1 year 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 Monday, February 12th. The semiconductor company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.09 by $0.10. Veeco Instruments had a negative net margin of 10.16% and a negative return on equity of 0.73%. The business had revenue of $143.40 million during the quarter, compared to the consensus estimate of $143.85 million. During the same period in the previous year, the business earned $0.09 earnings per share. The company’s revenue was up 53.2% on a year-over-year basis. equities analysts expect that Veeco Instruments will post -0.01 EPS for the current fiscal year.

Veeco Instruments declared that its Board of Directors has approved a stock repurchase plan on Monday, December 11th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the semiconductor company to repurchase shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

In other news, SVP John P. Kiernan acquired 5,000 shares of the stock in a transaction on Wednesday, December 13th. The stock was acquired at an average cost of $13.65 per share, for a total transaction of $68,250.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John R. Peeler acquired 36,200 shares of the stock in a transaction on Wednesday, December 13th. The shares were purchased at an average price of $13.81 per share, with a total value of $499,922.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 63,700 shares of company stock valued at $877,472. Company insiders own 2.90% of the company’s stock.

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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.

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