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Why Veeco Instruments (VECO) Could Be Positioned for a Surge?

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Veeco Instruments Inc. (VECO - Free Report) is a manufacturer of microelectronic products 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 while none have gone lower in the same time period. The trend has been pretty favorable too, with loss estimates narrowing from 20 cents a share 30 days ago, to 10 cents today, a significant move.

VEECO INSTRS-DE Price and Consensus

VEECO INSTRS-DE Price and Consensus | VEECO INSTRS-DE Quote

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 none lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of $1.01 per share 30 days ago to 84 cents per share today, an increase of 16.8%.

Bottom Line

The stock has also started to move higher lately, adding 21.9% 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 #2 (Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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