Needham & Company maintains a 'Hold' on Veeco Instruments (VECO); Weak Guidance No Surprises
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Price: $52.40 -2.2%
Rating Summary:
14 Buy, 11 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
14 Buy, 11 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Hold' on Veeco Instruments (NASDAQ: VECO).
Analyst, Y. Edwin Mok, says, "VECO reported better than expected 4Q11 earnings. The company provided 1Q12 top and bottom line guidance, as largely expected given the well publicized overcapacities in the MOCVD space. While Data Storage bookings were up substantially, we believe these are likely limited to customers rebuilding slider facility, which could be short-lived. We believe MOCVD bookings will remain depressed throughout 2012, and believe 2012 total revenue will come in at the lower-end of guidance."
"We expect 2012 revenue to come in at the low-end of guidance of $500-$600MM...We lower 2012 non-GAAP EPS estimate to $0.90 (from $0.92) and 2013 to $1.90 (from $1.98). A lower tax rate added $0.05/$0.10 to our 2012/13 EPS."
For an analyst ratings summary and ratings history on Veeco Instruments click here. For more ratings news on Veeco Instruments click here.
Shares of Veeco Instruments closed at $27.14 yesterday.
Analyst, Y. Edwin Mok, says, "VECO reported better than expected 4Q11 earnings. The company provided 1Q12 top and bottom line guidance, as largely expected given the well publicized overcapacities in the MOCVD space. While Data Storage bookings were up substantially, we believe these are likely limited to customers rebuilding slider facility, which could be short-lived. We believe MOCVD bookings will remain depressed throughout 2012, and believe 2012 total revenue will come in at the lower-end of guidance."
"We expect 2012 revenue to come in at the low-end of guidance of $500-$600MM...We lower 2012 non-GAAP EPS estimate to $0.90 (from $0.92) and 2013 to $1.90 (from $1.98). A lower tax rate added $0.05/$0.10 to our 2012/13 EPS."
For an analyst ratings summary and ratings history on Veeco Instruments click here. For more ratings news on Veeco Instruments click here.
Shares of Veeco Instruments closed at $27.14 yesterday.
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