Veeco Instruments (VECO) Releases Earnings Results, Beats Expectations By $0.02 EPS

Veeco Instruments (VECO) reported quarterly earnings results on Monday, Aug-1-2016. The company said it had a profit of $-0.19 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $-0.21. The company posted revenue of $75.30 million in the period, compared to analysts expectations of $77.05 million. The company’s revenue was down -42.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 EPS.

Many Wall Street Analysts have commented on Veeco Instruments. Pacific Crest Initiated Veeco Instruments on May 13, 2016 to “Overweight”, Price Target of the shares are set at $23.Shares were Reiterated by The Benchmark Company on May 5, 2016 to “Buy” and Lowered the Price Target to $ 23 from a previous price target of $28.50 .

Veeco Instruments closed down -0.08 points or -0.47% at $16.77 with 2,51,133 shares getting traded on Friday. Post opening the session at $16.87, the shares hit an intraday low of $16.37 and an intraday high of $16.93 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Dec 9, 2015, William John Miller (EVP Process Equipment) sold 1,210 shares at $19.60 per share price. According to the SEC, on Jun 10, 2015, John R Peeler (Chairman & CEO) sold 44,418 shares at $30.87 per share price. On Jun 2, 2015, Roger D Mcdaniel (director) sold 2,232 shares at $30.57 per share price, according to the Form-4 filing with the securities and exchange commission.

Veeco Instruments Inc. (Veeco) designs manufactures and markets thin film equipment. The Company’s equipment is primarily sold to make electronic devices including light emitting diodes (LED) power electronics wireless devices hard disk drives and semiconductors. The Company sells its products and services worldwide primarily through various sales and service facilities in the United States Europe and Asia Pacific. The Company’s systems including its deposition and etch tools are used in the creation of a range of microelectronic components including light-emitting diode (LED) power semiconductors thin film magnetic heads (TFMHs) and compound semiconductor devices. The Company offers Metal Organic Chemical Vapor Deposition Systems Molecular Beam Epitaxy Systems Fast Array Scanning Atomic Layer Deposition Systems Precision Surface Processing Systems Ion Beam Deposition Systems Ion Beam Etch Systems and Other Data Storage Products.

Veeco Instruments

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