Revenue Update on Veeco Instruments(NASDAQ:VECO)

Veeco Instruments(NASDAQ:VECO) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 1, 2016. Company reported revenue of $75.35M. Analysts estimated a revenue of $76.30M. Earnings per share were $-0.19. Analysts had estimated an EPS of $-0.20.

In a different note, Pacific Crest said it Initiates Coverage on Veeco Instruments, according to a research note issued on May 13, 2016. The shares have been rated ‘Overweight’ by the firm.

Veeco Instruments (VECO) made into the market gainers list on Mondays trading session with the shares advancing 1.56% or 0.31 points. Due to strong positive momentum, the stock ended at $20.15, which is also near the day’s high of $20.4941. The stock began the session at $20.01 and the volume stood at 3,45,857 shares. The 52-week high of the shares is $24.682 and the 52 week low is $15.26. The company has a current market capitalization of $819 M and it has 4,06,38,047 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Dec 9, 2015, William John Miller (EVP Process Equipment) sold 1,210 shares at $19.60 per share price.Also, 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.

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