Veeco Instruments Inc. (NASDAQ:VECO) has been given a consensus recommendation of “Buy” by the eleven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $26.67.
VECO has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Veeco Instruments from a “hold” rating to a “strong-buy” rating and set a $19.00 target price for the company in a research report on Saturday, May 12th. Northland Securities initiated coverage on Veeco Instruments in a research report on Thursday, April 19th. They issued an “outperform” rating for the company. TheStreet upgraded Veeco Instruments from a “d+” rating to a “c” rating in a research report on Monday, March 12th. Finally, ValuEngine downgraded Veeco Instruments from a “sell” rating to a “strong sell” rating in a research report on Friday, May 18th.
Several large investors have recently made changes to their positions in VECO. Schwab Charles Investment Management Inc. lifted its position in shares of Veeco Instruments by 8.3% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 331,965 shares of the semiconductor company’s stock valued at $4,930,000 after acquiring an additional 25,458 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in shares of Veeco Instruments during the 4th quarter valued at $205,000. Boston Partners lifted its position in shares of Veeco Instruments by 111.7% during the 4th quarter. Boston Partners now owns 366,570 shares of the semiconductor company’s stock valued at $5,443,000 after acquiring an additional 193,440 shares during the last quarter. Aperio Group LLC lifted its position in shares of Veeco Instruments by 64.2% during the 4th quarter. Aperio Group LLC now owns 16,712 shares of the semiconductor company’s stock valued at $248,000 after acquiring an additional 6,533 shares during the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of Veeco Instruments during the 4th quarter valued at $229,000. Institutional investors own 99.60% of the company’s stock.
VECO opened at $17.25 on Monday. The company has a market capitalization of $835.07 million, a price-to-earnings ratio of -862.50 and a beta of 0.58. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.80 and a quick ratio of 2.17. Veeco Instruments has a 1-year low of $10.85 and a 1-year high of $33.40.
Veeco Instruments (NASDAQ:VECO) last released its earnings results on Monday, May 7th. The semiconductor company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.14. The firm had revenue of $158.57 million during the quarter, compared to the consensus estimate of $151.62 million. Veeco Instruments had a positive return on equity of 0.51% and a negative net margin of 11.24%. The firm’s revenue for the quarter was up 67.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.09 earnings per share. analysts predict that Veeco Instruments will post 0.41 EPS for the current fiscal year.
Veeco Instruments Company Profile
Veeco Instruments Inc, together with its subsidiaries, develops, manufactures, sells, and supports semiconductor process equipment worldwide. It offers metal organic chemical vapor deposition systems; packaging lithography equipment; precision surface processing systems; laser annealing systems; ion beam etch and deposition systems; molecular beam epitaxy systems; 3D wafer inspection systems; and atomic layer deposition and other deposition systems.
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