Shares of Veeco Instruments Inc. (NASDAQ:VECO) have been assigned an average recommendation of “Hold” from the fourteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $29.00.
Several equities analysts have issued reports on VECO shares. ValuEngine lowered shares of Veeco Instruments from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 price target on shares of Veeco Instruments in a report on Friday, November 3rd. Deutsche Bank AG set a $21.00 price target on shares of Veeco Instruments and gave the stock a “hold” rating in a report on Wednesday, August 30th. Zacks Investment Research upgraded shares of Veeco Instruments from a “sell” rating to a “hold” rating in a research note on Thursday, October 5th. Finally, Benchmark Co. reiterated a “buy” rating and set a $33.00 price objective on shares of Veeco Instruments in a research note on Thursday, October 5th.
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Shares of Veeco Instruments (VECO) traded up $0.15 during mid-day trading on Thursday, reaching $15.50. 864,000 shares of the company traded hands, compared to its average volume of 521,844. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.11 and a current ratio of 2.61. Veeco Instruments has a 12 month low of $14.75 and a 12 month high of $34.38.
Veeco Instruments (NASDAQ:VECO) last released its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.16. Veeco Instruments had a negative net margin of 10.16% and a negative return on equity of 0.73%. The business had revenue of $131.87 million for the quarter, compared to analyst estimates of $134.97 million. During the same period in the previous year, the company earned ($0.05) earnings per share. The business’s revenue for the quarter was up 54.3% on a year-over-year basis. sell-side analysts anticipate that Veeco Instruments will post -0.01 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. lifted its position in Veeco Instruments by 32.9% during the second quarter. Ameritas Investment Partners Inc. now owns 4,143 shares of the semiconductor company’s stock valued at $115,000 after purchasing an additional 1,026 shares during the period. Nisa Investment Advisors LLC lifted its position in Veeco Instruments by 2,768.5% during the second quarter. Nisa Investment Advisors LLC now owns 5,737 shares of the semiconductor company’s stock valued at $160,000 after purchasing an additional 5,537 shares during the period. Bank of Montreal Can lifted its position in Veeco Instruments by 4.8% during the second quarter. Bank of Montreal Can now owns 5,771 shares of the semiconductor company’s stock valued at $161,000 after purchasing an additional 265 shares during the period. Stifel Financial Corp acquired a new position in Veeco Instruments during the second quarter valued at $202,000. Finally, Capstone Asset Management Co. lifted its position in Veeco Instruments by 7.1% during the second quarter. Capstone Asset Management Co. now owns 8,367 shares of the semiconductor company’s stock valued at $233,000 after purchasing an additional 557 shares during the period. Institutional investors own 97.16% of the company’s stock.
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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