Shares of Veeco Instruments Inc. (NASDAQ:VECO) have been given an average recommendation of “Hold” by the thirteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $29.00.
VECO has been the topic of several recent research reports. Deutsche Bank AG set a $21.00 price target on Veeco Instruments and gave the company a “hold” rating in a research report on Wednesday, August 30th. Benchmark Co. restated a “buy” rating and issued a $33.00 price target on shares of Veeco Instruments in a research report on Thursday, October 5th. BidaskClub cut Veeco Instruments from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 17th. Zacks Investment Research upgraded Veeco Instruments from a “sell” rating to a “hold” rating in a research report on Thursday, October 5th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $36.00 price target (down previously from $38.00) on shares of Veeco Instruments in a research report on Wednesday, August 9th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Neuberger Berman Group LLC increased its position in Veeco Instruments by 7.0% during the 3rd quarter. Neuberger Berman Group LLC now owns 1,266,600 shares of the semiconductor company’s stock worth $27,105,000 after purchasing an additional 83,135 shares during the period. Cubist Systematic Strategies LLC increased its position in Veeco Instruments by 71.8% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 16,414 shares of the semiconductor company’s stock worth $351,000 after purchasing an additional 6,858 shares during the period. Royce & Associates LP increased its position in Veeco Instruments by 63.6% during the 3rd quarter. Royce & Associates LP now owns 492,577 shares of the semiconductor company’s stock worth $10,541,000 after purchasing an additional 191,500 shares during the period. Dimensional Fund Advisors LP increased its position in Veeco Instruments by 3.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,953,177 shares of the semiconductor company’s stock worth $63,198,000 after purchasing an additional 92,897 shares during the period. Finally, Van ECK Associates Corp increased its position in Veeco Instruments by 23.7% during the 3rd quarter. Van ECK Associates Corp now owns 60,073 shares of the semiconductor company’s stock worth $1,286,000 after purchasing an additional 11,500 shares during the period. Institutional investors own 95.41% of the company’s stock.
Veeco Instruments (VECO) traded down $0.20 during trading on Thursday, hitting $16.80. The stock had a trading volume of 633,578 shares, compared to its average volume of 529,495. Veeco Instruments has a fifty-two week low of $14.75 and a fifty-two week high of $34.38. The company has a quick ratio of 2.11, a current ratio of 2.61 and a debt-to-equity ratio of 0.32.
Veeco Instruments (NASDAQ:VECO) last issued its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $0.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.16. The firm had revenue of $131.87 million for the quarter, compared to analysts’ expectations of $134.97 million. Veeco Instruments had a negative return on equity of 10.24% and a negative net margin of 16.59%. The firm’s revenue for the quarter was up 54.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.05) EPS. equities research analysts expect that Veeco Instruments will post -0.01 EPS for the current year.
Veeco Instruments Company Profile
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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