Veeco Instruments Inc. (NASDAQ:VECO) is expected to report third quarter earnings results, after market close, on Tuesday 27th October 2020.
Analysts polled by Thomson Reuters anticipate third quarter income of $ 0.20 per share.
Looking ahead, the full year income are expected at $ 0.79 per share on the revenues of $ 432.65 million.
The Company Outlook
Earnings for 3Q20 are anticipated in a range of $ 0.10 ~ $ 0.26 per share, while revenues are expected in a range of $ 100.00 million ~ $ 120.00 million
Click Here For More Historical Outlooks Of Veeco Instruments Inc.
Previous Quarter Performance
Veeco Instruments Inc. reported income for the second quarter of $ 0.11 per share, from the revenue of $ 98.64 million. The quarterly revenues expanded 0.84 percent compared with the same quarter last year. According to street consensus, VECO was expected to report 2Q20 income of $ 0.07 per share from revenue of $ 97.83 million. The bottom line results beat street analysts by $ 0.04 or 57.14 percent, at the same time, top line results outshined analysts by $ 0.81 million or 0.83 percent.
Stock Performance
Shares of Veeco Instruments Inc. traded up $ 0.05 or 0.39 percent on Friday, reaching $ 12.96 with volume of 490.40 thousand shares. Veeco Instruments Inc. has traded high as $ 13.12 and has cracked $ 12.53 on the downward trend
According to the previous trading day, closing price of $ 12.96, representing a 73.99 % increase from the 52 week low of $ 7.42 and a 32.8 % decrease over the 52 week high of $ 19.21.
The company has a market capital of $ 643.06 million and is part of the Technology sector and Semiconductor Equipment & Materials industry.
Recent Analyst recommendations
- On 17th September 2020, initiated by Barclays at Overweight rating, with $ 15.00 target price.
- On 16th September 2020, upgraded by Goldman Sachs Group to Buy from Neutral rating, with $ 16.00 target price.
Conference Call
Veeco Instruments Inc. will be hosting a conference call at 5:00 PM eastern time on 27th October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.veeco.com
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. The company sells its process equipment systems for use in the production of a range of microelectronic components, including light emitting diodes, micro-electro mechanical systems, radio frequency filters and amplifiers, power electronics, thin film magnetic heads, and laser diodes; and 3D NAND, DRAM, logic, and other semiconductor devices, as well as for research centers and universities.
