Veeco Instruments Inc. (VECO) is a microelectronic solutions company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on VECO’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Veeco Instruments could be a solid choice for investors.
Current Quarter Estimates for VECO
In the past 30 days, 2 estimates have gone higher for Veeco Instruments with no downward revision in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 39 cents per share to a loss of 29 cents per share, a move of 25.6%.
Current Year Estimates for VECO
Meanwhile, Veeco Instruments’ current year figures are also looking quite promising, with 2 estimates moving higher in the past month, compared to 2 downward revisions. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 55 cents per share to a loss of 48 cents per share, a move of 12.7%.
Bottom Line
The stock has also started to move higher lately, adding 8.8% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future.
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