Shares of Veeco Instruments Inc. (NASDAQ:VECO) have received a consensus recommendation of “Hold” from the fourteen analysts that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $30.88.
Several equities analysts recently commented on the stock. Stifel Nicolaus reiterated a “buy” rating and set a $38.00 price target (up from $36.00) on shares of Veeco Instruments in a report on Friday, July 21st. Zacks Investment Research downgraded shares of Veeco Instruments from a “hold” rating to a “sell” rating in a report on Saturday, July 22nd. BidaskClub upgraded shares of Veeco Instruments from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Deutsche Bank AG downgraded shares of Veeco Instruments from a “buy” rating to a “hold” rating and cut their price target for the company from $35.00 to $30.00 in a report on Friday, August 4th. Finally, Benchmark Co. reissued a “buy” rating and issued a $33.00 price objective on shares of Veeco Instruments in a research report on Thursday, October 5th.
Veeco Instruments (NASDAQ VECO) traded down 0.28% during mid-day trading on Friday, hitting $17.85. 509,152 shares of the stock were exchanged. The company’s 50-day moving average price is $20.74 and its 200 day moving average price is $26.46. The firm’s market capitalization is $864.30 million. Veeco Instruments has a 52 week low of $17.50 and a 52 week high of $34.38.
Veeco Instruments (NASDAQ:VECO) last issued its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.03. The company had revenue of $115.07 million for the quarter, compared to the consensus estimate of $110.87 million. Veeco Instruments had a negative net margin of 23.65% and a negative return on equity of 1.33%. The firm’s revenue was up 52.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.19) EPS. Equities research analysts expect that Veeco Instruments will post $0.45 EPS for the current year.
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Several institutional investors and hedge funds have recently made changes to their positions in the company. Arizona State Retirement System lifted its position in shares of Veeco Instruments by 1.0% in the 1st quarter. Arizona State Retirement System now owns 21,112 shares of the semiconductor company’s stock worth $630,000 after purchasing an additional 200 shares during the period. Bank of Montreal Can lifted its position in shares of Veeco Instruments by 4.8% in the 2nd quarter. Bank of Montreal Can now owns 5,771 shares of the semiconductor company’s stock worth $161,000 after purchasing an additional 265 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of Veeco Instruments by 1.6% in the 2nd quarter. Janney Montgomery Scott LLC now owns 22,912 shares of the semiconductor company’s stock worth $638,000 after purchasing an additional 370 shares during the period. Capstone Asset Management Co. lifted its position in shares of Veeco Instruments by 7.1% in the 2nd quarter. Capstone Asset Management Co. now owns 8,367 shares of the semiconductor company’s stock worth $233,000 after purchasing an additional 557 shares during the period. Finally, Legal & General Group Plc lifted its position in shares of Veeco Instruments by 0.8% in the 1st quarter. Legal & General Group Plc now owns 70,106 shares of the semiconductor company’s stock worth $2,094,000 after purchasing an additional 562 shares during the period. 95.41% of the stock is owned by hedge funds and other institutional investors.
About Veeco Instruments
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.
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