Intrinsic value of Veeco Instruments - VECO

Previous Close

$16.95

  Intrinsic Value

$448.50

stock screener

  Rating & Target

str. buy

+999%

Previous close

$16.95

 
Intrinsic value

$448.50

 
Up/down potential

+999%

 
Rating

str. buy

We calculate the intrinsic value of VECO stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -30.40
  55.30
  50.27
  45.74
  41.67
  38.00
  34.70
  31.73
  29.06
  26.65
  24.49
  22.54
  20.78
  19.21
  17.79
  16.51
  15.36
  14.32
  13.39
  12.55
  11.79
  11.12
  10.50
  9.95
  9.46
  9.01
  8.61
  8.25
  7.92
  7.63
  7.37
Revenue, $m
  332
  516
  775
  1,129
  1,600
  2,208
  2,974
  3,917
  5,056
  6,403
  7,971
  9,768
  11,798
  14,064
  16,565
  19,299
  22,263
  25,451
  28,859
  32,481
  36,312
  40,348
  44,586
  49,024
  53,660
  58,496
  63,533
  68,775
  74,225
  79,890
  85,778
Variable operating expenses, $m
 
  161
  236
  339
  476
  653
  875
  1,149
  1,479
  1,871
  2,326
  2,836
  3,426
  4,084
  4,810
  5,604
  6,464
  7,390
  8,379
  9,431
  10,543
  11,715
  12,946
  14,235
  15,581
  16,985
  18,448
  19,970
  21,552
  23,197
  24,907
Fixed operating expenses, $m
 
  363
  372
  381
  391
  401
  411
  421
  431
  442
  453
  464
  476
  488
  500
  513
  526
  539
  552
  566
  580
  595
  609
  625
  640
  656
  673
  690
  707
  724
  743
Total operating expenses, $m
  453
  524
  608
  720
  867
  1,054
  1,286
  1,570
  1,910
  2,313
  2,779
  3,300
  3,902
  4,572
  5,310
  6,117
  6,990
  7,929
  8,931
  9,997
  11,123
  12,310
  13,555
  14,860
  16,221
  17,641
  19,121
  20,660
  22,259
  23,921
  25,650
Operating income, $m
  -120
  -8
  166
  409
  733
  1,155
  1,688
  2,348
  3,145
  4,090
  5,192
  6,467
  7,896
  9,492
  11,255
  13,183
  15,273
  17,523
  19,927
  22,484
  25,188
  28,038
  31,030
  34,164
  37,439
  40,855
  44,413
  48,116
  51,966
  55,969
  60,129
EBITDA, $m
  -87
  33
  223
  486
  838
  1,295
  1,874
  2,589
  3,453
  4,477
  5,670
  7,039
  8,587
  10,316
  12,225
  14,314
  16,578
  19,014
  21,618
  24,387
  27,315
  30,402
  33,643
  37,037
  40,583
  44,282
  48,135
  52,145
  56,315
  60,649
  65,154
Interest expense (income), $m
  0
  0
  3
  8
  14
  22
  32
  46
  62
  82
  105
  132
  163
  198
  237
  281
  328
  379
  434
  493
  556
  622
  692
  765
  841
  922
  1,005
  1,092
  1,183
  1,277
  1,375
Earnings before tax, $m
  -119
  -8
  163
  401
  719
  1,133
  1,656
  2,302
  3,083
  4,009
  5,087
  6,335
  7,733
  9,294
  11,018
  12,902
  14,945
  17,144
  19,493
  21,991
  24,632
  27,416
  30,339
  33,400
  36,598
  39,933
  43,408
  47,023
  50,783
  54,692
  58,754
Tax expense, $m
  3
  0
  44
  108
  194
  306
  447
  622
  832
  1,082
  1,373
  1,710
  2,088
  2,509
  2,975
  3,484
  4,035
  4,629
  5,263
  5,937
  6,651
  7,402
  8,191
  9,018
  9,881
  10,782
  11,720
  12,696
  13,712
  14,767
  15,863
Net income, $m
  -122
  -8
  119
  293
  525
  827
  1,209
  1,680
  2,250
  2,926
  3,713
  4,625
  5,645
  6,785
  8,043
  9,419
  10,910
  12,515
  14,230
  16,053
  17,982
  20,014
  22,147
  24,382
  26,716
  29,151
  31,688
  34,327
  37,072
  39,925
  42,890

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  344
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  759
  644
  968
  1,411
  2,000
  2,760
  3,717
  4,897
  6,320
  8,004
  9,964
  12,210
  14,747
  17,580
  20,706
  24,124
  27,829
  31,814
  36,074
  40,601
  45,389
  50,435
  55,732
  61,279
  67,075
  73,120
  79,417
  85,968
  92,781
  99,863
  107,222
Adjusted assets (=assets-cash), $m
  415
  644
  968
  1,411
  2,000
  2,760
  3,717
  4,897
  6,320
  8,004
  9,964
  12,210
  14,747
  17,580
  20,706
  24,124
  27,829
  31,814
  36,074
  40,601
  45,389
  50,435
  55,732
  61,279
  67,075
  73,120
  79,417
  85,968
  92,781
  99,863
  107,222
Revenue / Adjusted assets
  0.800
  0.801
  0.801
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
Average production assets, $m
  166
  257
  386
  562
  797
  1,099
  1,481
  1,951
  2,518
  3,189
  3,970
  4,864
  5,875
  7,004
  8,249
  9,611
  11,087
  12,675
  14,372
  16,175
  18,083
  20,093
  22,204
  24,414
  26,723
  29,131
  31,640
  34,250
  36,964
  39,785
  42,717
Working capital, $m
  358
  22
  33
  47
  67
  93
  125
  165
  212
  269
  335
  410
  496
  591
  696
  811
  935
  1,069
  1,212
  1,364
  1,525
  1,695
  1,873
  2,059
  2,254
  2,457
  2,668
  2,889
  3,117
  3,355
  3,603
Total debt, $m
  1
  92
  220
  395
  627
  927
  1,305
  1,771
  2,333
  2,999
  3,773
  4,660
  5,662
  6,781
  8,016
  9,366
  10,829
  12,404
  14,086
  15,874
  17,766
  19,759
  21,851
  24,042
  26,332
  28,719
  31,207
  33,795
  36,486
  39,283
  42,190
Total liabilities, $m
  164
  255
  383
  558
  790
  1,090
  1,468
  1,934
  2,496
  3,162
  3,936
  4,823
  5,825
  6,944
  8,179
  9,529
  10,992
  12,567
  14,249
  16,037
  17,929
  19,922
  22,014
  24,205
  26,495
  28,882
  31,370
  33,958
  36,649
  39,446
  42,353
Total equity, $m
  595
  390
  586
  854
  1,210
  1,670
  2,249
  2,962
  3,823
  4,842
  6,028
  7,387
  8,922
  10,636
  12,527
  14,595
  16,836
  19,248
  21,824
  24,563
  27,461
  30,513
  33,718
  37,074
  40,581
  44,238
  48,047
  52,011
  56,133
  60,417
  64,869
Total liabilities and equity, $m
  759
  645
  969
  1,412
  2,000
  2,760
  3,717
  4,896
  6,319
  8,004
  9,964
  12,210
  14,747
  17,580
  20,706
  24,124
  27,828
  31,815
  36,073
  40,600
  45,390
  50,435
  55,732
  61,279
  67,076
  73,120
  79,417
  85,969
  92,782
  99,863
  107,222
Debt-to-equity ratio
  0.002
  0.230
  0.370
  0.460
  0.520
  0.560
  0.580
  0.600
  0.610
  0.620
  0.630
  0.630
  0.630
  0.640
  0.640
  0.640
  0.640
  0.640
  0.650
  0.650
  0.650
  0.650
  0.650
  0.650
  0.650
  0.650
  0.650
  0.650
  0.650
  0.650
  0.650
Adjusted equity ratio
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -122
  -8
  119
  293
  525
  827
  1,209
  1,680
  2,250
  2,926
  3,713
  4,625
  5,645
  6,785
  8,043
  9,419
  10,910
  12,515
  14,230
  16,053
  17,982
  20,014
  22,147
  24,382
  26,716
  29,151
  31,688
  34,327
  37,072
  39,925
  42,890
Depreciation, amort., depletion, $m
  33
  42
  57
  78
  105
  141
  186
  241
  308
  387
  479
  572
  691
  824
  971
  1,131
  1,304
  1,491
  1,691
  1,903
  2,127
  2,364
  2,612
  2,872
  3,144
  3,427
  3,722
  4,029
  4,349
  4,681
  5,026
Funds from operations, $m
  -44
  33
  176
  370
  630
  968
  1,394
  1,921
  2,558
  3,313
  4,192
  5,197
  6,336
  7,609
  9,013
  10,549
  12,214
  14,006
  15,921
  17,956
  20,109
  22,378
  24,759
  27,254
  29,860
  32,578
  35,410
  38,357
  41,421
  44,606
  47,916
Change in working capital, $m
  -20
  8
  11
  15
  20
  26
  32
  40
  48
  57
  66
  75
  85
  95
  105
  115
  124
  134
  143
  152
  161
  170
  178
  186
  195
  203
  212
  220
  229
  238
  247
Cash from operations, $m
  -24
  25
  165
  355
  610
  942
  1,362
  1,882
  2,510
  3,256
  4,126
  5,121
  6,251
  7,513
  8,908
  10,435
  12,090
  13,872
  15,778
  17,804
  19,948
  22,208
  24,582
  27,067
  29,665
  32,375
  35,198
  38,136
  41,192
  44,368
  47,668
Maintenance CAPEX, $m
  0
  -19
  -30
  -45
  -66
  -94
  -129
  -174
  -230
  -296
  -375
  -467
  -572
  -691
  -824
  -971
  -1,131
  -1,304
  -1,491
  -1,691
  -1,903
  -2,127
  -2,364
  -2,612
  -2,872
  -3,144
  -3,427
  -3,722
  -4,029
  -4,349
  -4,681
New CAPEX, $m
  -11
  -91
  -129
  -176
  -234
  -303
  -382
  -470
  -567
  -671
  -781
  -895
  -1,011
  -1,128
  -1,246
  -1,362
  -1,476
  -1,588
  -1,697
  -1,804
  -1,908
  -2,010
  -2,111
  -2,210
  -2,309
  -2,408
  -2,508
  -2,610
  -2,714
  -2,821
  -2,932
Cash from investing activities, $m
  47
  -110
  -159
  -221
  -300
  -397
  -511
  -644
  -797
  -967
  -1,156
  -1,362
  -1,583
  -1,819
  -2,070
  -2,333
  -2,607
  -2,892
  -3,188
  -3,495
  -3,811
  -4,137
  -4,475
  -4,822
  -5,181
  -5,552
  -5,935
  -6,332
  -6,743
  -7,170
  -7,613
Free cash flow, $m
  23
  -85
  6
  134
  310
  546
  851
  1,238
  1,714
  2,289
  2,970
  3,760
  4,668
  5,694
  6,839
  8,102
  9,483
  10,980
  12,590
  14,310
  16,137
  18,071
  20,107
  22,245
  24,484
  26,823
  29,263
  31,804
  34,448
  37,198
  40,056
Issuance/(repayment) of debt, $m
  0
  91
  128
  175
  232
  300
  378
  466
  562
  665
  774
  887
  1,002
  1,119
  1,235
  1,350
  1,463
  1,574
  1,682
  1,788
  1,892
  1,993
  2,093
  2,191
  2,289
  2,388
  2,487
  2,588
  2,691
  2,797
  2,907
Issuance/(repurchase) of shares, $m
  -12
  147
  77
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -15
  238
  205
  175
  232
  300
  378
  466
  562
  665
  774
  887
  1,002
  1,119
  1,235
  1,350
  1,463
  1,574
  1,682
  1,788
  1,892
  1,993
  2,093
  2,191
  2,289
  2,388
  2,487
  2,588
  2,691
  2,797
  2,907
Total cash flow (excl. dividends), $m
  8
  153
  211
  309
  542
  846
  1,230
  1,704
  2,276
  2,954
  3,744
  4,647
  5,670
  6,813
  8,074
  9,452
  10,947
  12,554
  14,272
  16,098
  18,029
  20,063
  22,200
  24,436
  26,773
  29,211
  31,750
  34,392
  37,139
  39,995
  42,963
Retained Cash Flow (-), $m
  120
  -147
  -196
  -268
  -356
  -460
  -579
  -714
  -861
  -1,019
  -1,186
  -1,359
  -1,535
  -1,714
  -1,892
  -2,068
  -2,241
  -2,411
  -2,577
  -2,739
  -2,897
  -3,052
  -3,205
  -3,356
  -3,506
  -3,657
  -3,809
  -3,964
  -4,122
  -4,284
  -4,452
Prev. year cash balance distribution, $m
 
  344
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  349
  15
  41
  186
  386
  650
  990
  1,415
  1,935
  2,559
  3,288
  4,135
  5,099
  6,182
  7,385
  8,705
  10,143
  11,695
  13,359
  15,132
  17,011
  18,995
  21,080
  23,267
  25,554
  27,941
  30,428
  33,017
  35,711
  38,511
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  335
  13
  35
  154
  299
  472
  669
  885
  1,112
  1,341
  1,561
  1,764
  1,939
  2,075
  2,168
  2,212
  2,207
  2,154
  2,057
  1,923
  1,760
  1,576
  1,382
  1,185
  994
  815
  653
  511
  390
  290
Current shareholders' claim on cash, %
  100
  70.4
  61.6
  61.6
  61.6
  61.6
  61.6
  61.6
  61.6
  61.6
  61.6
  61.6
  61.6
  61.6
  61.6
  61.6
  61.6
  61.6
  61.6
  61.6
  61.6
  61.6
  61.6
  61.6
  61.6
  61.6
  61.6
  61.6
  61.6
  61.6
  61.6

Veeco Instruments Inc. is engaged in the design, development, manufacture and support of thin film process equipment, primarily sold to make electronic devices. The Company's geographical segments include the United States; China; Europe, Middle East and Africa (EMEA), and Rest of World (ROW). The Company's portfolio of technology solutions focus on market areas, including Lighting, Display & Power Electronics; Advanced Packaging, micro-electromechanical systems (MEMS) & radio frequency (RF); Scientific & Industrial, and Data Storage. The Company's equipment is used to make electronic devices, including light emitting diodes (LEDs), MEMS, wireless devices, power electronics, hard disk drives (HDDs) and semiconductor devices. The Company's System products include Metal Organic Chemical Vapor Deposition Systems, Precision Surface Processing Systems, Ion Beam Etch and Deposition Systems, Molecular Beam Epitaxy Systems, and Other Deposition and Industrial Products.

FINANCIAL RATIOS  of  Veeco Instruments (VECO)

Valuation Ratios
P/E Ratio -5.6
Price to Sales 2.1
Price to Book 1.2
Price to Tangible Book
Price to Cash Flow -28.7
Price to Free Cash Flow -19.7
Growth Rates
Sales Growth Rate -30.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -21.4%
Cap. Spend. - 3 Yr. Gr. Rate 4.1%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 0.2%
Total Debt to Equity 0.2%
Interest Coverage 0
Management Effectiveness
Return On Assets -14.8%
Ret/ On Assets - 3 Yr. Avg. -8.5%
Return On Total Capital -18.6%
Ret/ On T. Cap. - 3 Yr. Avg. -10.6%
Return On Equity -18.6%
Return On Equity - 3 Yr. Avg. -10.6%
Asset Turnover 0.4
Profitability Ratios
Gross Margin 40.1%
Gross Margin - 3 Yr. Avg. 37.2%
EBITDA Margin -25.9%
EBITDA Margin - 3 Yr. Avg. -11.9%
Operating Margin -36.4%
Oper. Margin - 3 Yr. Avg. -20.5%
Pre-Tax Margin -35.8%
Pre-Tax Margin - 3 Yr. Avg. -20.2%
Net Profit Margin -36.7%
Net Profit Margin - 3 Yr. Avg. -20.2%
Effective Tax Rate -2.5%
Eff/ Tax Rate - 3 Yr. Avg. -9.2%
Payout Ratio 0%

VECO stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the VECO stock intrinsic value calculation we used $332 million for the last fiscal year's total revenue generated by Veeco Instruments. The default revenue input number comes from 2016 income statement of Veeco Instruments. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our VECO stock valuation model: a) initial revenue growth rate of 55.3% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for VECO is calculated based on our internal credit rating of Veeco Instruments, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Veeco Instruments.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of VECO stock the variable cost ratio is equal to 32.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $354 million in the base year in the intrinsic value calculation for VECO stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Veeco Instruments.

Corporate tax rate of 27% is the nominal tax rate for Veeco Instruments. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the VECO stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for VECO are equal to 49.8%.

Life of production assets of 8.5 years is the average useful life of capital assets used in Veeco Instruments operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for VECO is equal to 4.2%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $595 million for Veeco Instruments - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 48.952 million for Veeco Instruments is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Veeco Instruments at the current share price and the inputted number of shares is $0.8 billion.

RELATED COMPANIES Price Int.Val. Rating
AMAT Applied Materi 57.40 182.04  str.buy
LRCX Lam Research 207.53 3,304.46  str.buy
IVAC Intevac 7.10 0.83  str.sell
CVV CVD Equipment 11.04 181.84  str.buy
ASYS Amtech Systems 11.28 224.01  str.buy
CAJ Canon ADR 39.33 184.97  str.buy
RTEC Rudolph Techno 28.00 11.25  str.sell

COMPANY NEWS

▶ OSRAM Orders Multiple Veeco MOCVD Systems   [Jan-09-18 08:00AM  Marketwired]
▶ Veeco Authorizes $100 Million Share Repurchase Program   [Dec-11-17 04:05PM  Marketwired]
▶ Why Veeco Instruments Inc. Stock Is Plummeting Today   [Dec-08-17 02:44PM  Motley Fool]
▶ Veeco Provides Update on Patent Litigation   [Dec-07-17 04:05PM  Marketwired]
▶ Veeco Preliminary Injunction Confirmed After Challenge   [Nov-16-17 04:05PM  Marketwired]
▶ Veeco reports 3Q loss   [Nov-02-17 04:26PM  Associated Press]
▶ Why Shares of Veeco Instruments Tumbled Today   [Aug-04-17 01:48PM  Motley Fool]
▶ Veeco Reports Second Quarter 2017 Financial Results   [Aug-03-17 04:05PM  Marketwired]
▶ Veeco Completes Acquisition of Ultratech   [May-26-17 08:51AM  Marketwired]
▶ Tracking-Chip Maker Impinj Rallies To High On Earnings, Can't Hold Buy   [May-05-17 04:30PM  Investor's Business Daily]
▶ Universal Display, Zillow Beat, Guide High; Impinj, Veeco Guide Low   [May-04-17 05:14PM  Investor's Business Daily]
▶ Veeco beats Street 1Q forecasts   [04:40PM  Associated Press]
▶ Amazon Price Target Raised To 1,250; Disney Downgraded; Sonic Upgraded   [Apr-24-17 04:32PM  Investor's Business Daily]
▶ Bull Of The Day: Ultra Clean (UCTT)   [Mar-27-17 12:08PM  Zacks]
▶ Is Veeco (VECO) Stock a Solid Choice Right Now?   [Mar-09-17 08:36AM  Zacks]
▶ Veeco reports 4Q loss   [Feb-16-17 04:25PM  Associated Press]
▶ Veeco Instruments-Ultratech Would Be a 'Dream' Merger   [Feb-15-17 02:10PM  at TheStreet]
Financial statements of VECO
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2018. All rigths reserved.