Veeco Instruments Inc. (NASDAQ:VECO) was upgraded by equities research analysts at TheStreet from a “sell” rating to a “hold” rating in a report released on Tuesday.

Several other analysts have also issued reports on VECO. Zacks Investment Research lowered shares of Veeco Instruments from a “buy” rating to a “hold” rating in a research report on Saturday, July 30th. Needham & Company LLC restated a “hold” rating on shares of Veeco Instruments in a research report on Wednesday, August 24th. Benchmark Co. upped their price target on shares of Veeco Instruments from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, September 12th. Pacific Crest restated a “buy” rating on shares of Veeco Instruments in a research report on Wednesday, November 16th. Finally, Deutsche Bank AG upgraded shares of Veeco Instruments from a “hold” rating to a “buy” rating and upped their price target for the company from $16.00 to $22.00 in a research report on Tuesday, August 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $23.56.

Analyst Recommendations for Veeco Instruments (NASDAQ:VECO)

Shares of Veeco Instruments (NASDAQ:VECO) opened at 26.55 on Tuesday. Veeco Instruments has a 12 month low of $15.26 and a 12 month high of $26.55. The company’s market capitalization is $1.08 billion. The company has a 50-day moving average price of $23.16 and a 200-day moving average price of $19.49.

Veeco Instruments (NASDAQ:VECO) last posted its quarterly earnings results on Tuesday, November 1st. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.13. Veeco Instruments had a negative net margin of 36.77% and a negative return on equity of 4.59%. The business earned $85.50 million during the quarter, compared to analyst estimates of $80.72 million. During the same period in the prior year, the business posted $0.33 earnings per share. The company’s revenue was down 39.2% on a year-over-year basis. On average, equities analysts anticipate that Veeco Instruments will post ($0.37) EPS for the current year.

Several hedge funds have recently bought and sold shares of the company. Jacobus Wealth Management Inc. purchased a new stake in Veeco Instruments during the third quarter worth $102,000. Mason Street Advisors LLC bought a new stake in shares of Veeco Instruments during the second quarter valued at approximately $129,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Veeco Instruments by 4.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,313 shares of the company’s stock valued at $144,000 after buying an additional 297 shares during the period. BlackRock Inc. raised its stake in shares of Veeco Instruments by 254.3% in the second quarter. BlackRock Inc. now owns 10,502 shares of the company’s stock valued at $174,000 after buying an additional 7,538 shares during the period. Finally, Municipal Employees Retirement System of Michigan raised its stake in shares of Veeco Instruments by 1.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 8,840 shares of the company’s stock valued at $174,000 after buying an additional 140 shares during the period. Institutional investors own 94.82% of the company’s stock.

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About Veeco Instruments

Veeco Instruments Inc designs, manufactures, markets and supports thin film equipment. The Company’s equipment is used to make electronic devices, including light emitting diodes (LED), micro-electromechanical systems (MEMS), wireless devices, power electronics, hard disk drives (HDDs) and semiconductors.

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