Wall Street analysts forecast that Veeco Instruments Inc. (NASDAQ:VECO) will post sales of $101.20 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Veeco Instruments’ earnings. The highest sales estimate is $102.00 million and the lowest is $100.40 million. Veeco Instruments reported sales of $157.78 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 35.9%. The company is expected to announce its next quarterly earnings results on Thursday, August 1st.

On average, analysts expect that Veeco Instruments will report full-year sales of $419.70 million for the current year, with estimates ranging from $418.00 million to $421.40 million. For the next fiscal year, analysts anticipate that the firm will report sales of $490.00 million, with estimates ranging from $485.00 million to $495.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Veeco Instruments.

Veeco Instruments (NASDAQ:VECO) last announced its earnings results on Monday, May 6th. The semiconductor company reported ($0.21) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.30) by $0.09. The company had revenue of $99.37 million during the quarter, compared to the consensus estimate of $96.75 million. Veeco Instruments had a negative net margin of 84.86% and a negative return on equity of 3.17%. The firm’s revenue for the quarter was down 37.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.20 earnings per share.

A number of equities analysts have weighed in on VECO shares. Northland Securities reiterated a “buy” rating and set a $14.00 target price on shares of Veeco Instruments in a research report on Monday, May 6th. ValuEngine upgraded shares of XCel Brands from a “sell” rating to a “hold” rating in a research report on Tuesday, July 9th. Zacks Investment Research lowered shares of G1 Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. BidaskClub lowered shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. Finally, Benchmark restated a “buy” rating and issued a $305.00 price objective (up from $295.00) on shares of NetEase in a research report on Thursday, May 16th. Two analysts have rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Veeco Instruments has a consensus rating of “Hold” and an average price target of $14.25.

Hedge funds have recently bought and sold shares of the business. River & Mercantile Asset Management LLP grew its holdings in shares of Veeco Instruments by 3.5% in the fourth quarter. River & Mercantile Asset Management LLP now owns 2,948,949 shares of the semiconductor company’s stock worth $21,837,000 after purchasing an additional 100,987 shares during the last quarter. Baillie Gifford & Co. grew its holdings in shares of Veeco Instruments by 7.7% in the first quarter. Baillie Gifford & Co. now owns 1,634,793 shares of the semiconductor company’s stock worth $17,720,000 after purchasing an additional 116,207 shares during the last quarter. D. E. Shaw & Co. Inc. grew its holdings in shares of Veeco Instruments by 20.7% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,028,111 shares of the semiconductor company’s stock worth $7,618,000 after purchasing an additional 176,063 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Veeco Instruments by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 565,660 shares of the semiconductor company’s stock worth $4,191,000 after purchasing an additional 15,139 shares during the last quarter. Finally, California Public Employees Retirement System grew its holdings in shares of Veeco Instruments by 24.6% in the first quarter. California Public Employees Retirement System now owns 443,909 shares of the semiconductor company’s stock worth $4,812,000 after purchasing an additional 87,689 shares during the last quarter. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

VECO traded up $0.24 during trading on Friday, hitting $11.89. 5,446 shares of the company traded hands, compared to its average volume of 336,363. The firm has a market capitalization of $567.01 million, a price-to-earnings ratio of -297.50 and a beta of 1.25. The firm’s fifty day moving average price is $11.72. The company has a current ratio of 3.32, a quick ratio of 2.34 and a debt-to-equity ratio of 0.69. Veeco Instruments has a one year low of $6.27 and a one year high of $16.30.

About Veeco Instruments

Veeco Instruments Inc, together with its subsidiaries, develops, manufactures, sells, and supports semiconductor and thin film process equipment primarily to make electronic devices worldwide. It offers metal organic chemical vapor deposition systems; packaging lithography equipment; precision surface processing systems; laser annealing systems; ion beam deposition and etch systems; molecular beam epitaxy systems; 3D wafer inspection systems; and atomic layer deposition and other deposition systems.

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