Veeco Instruments Inc. (NASDAQ:VECO) rose 5.5% during trading on Thursday . The stock traded as high as $16.45 and last traded at $16.35. Approximately 1,051,121 shares were traded during mid-day trading, an increase of 101% from the average daily volume of 524,228 shares. The stock had previously closed at $15.50.

VECO has been the topic of several analyst reports. Needham & Company LLC dropped their price target on shares of Veeco Instruments from $36.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, August 30th. 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 note on Wednesday, August 9th. Benchmark Co. restated a “buy” rating and issued a $33.00 price target on shares of Veeco Instruments in a research note on Thursday, October 5th. KeyCorp cut shares of Veeco Instruments to a “hold” rating in a report on Wednesday, October 25th. Finally, Zacks Investment Research upgraded shares of Veeco Instruments from a “sell” rating to a “hold” rating in a report on Thursday, October 5th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. Veeco Instruments presently has a consensus rating of “Hold” and an average price target of $29.22.

The company has a current ratio of 2.61, a quick ratio of 2.11 and a debt-to-equity ratio of 0.32.

Veeco Instruments (NASDAQ:VECO) last issued its earnings results on Thursday, November 2nd. The semiconductor company reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.16. The firm had revenue of $131.87 million during the quarter, compared to analysts’ expectations of $134.97 million. Veeco Instruments had a negative net margin of 10.16% and a negative return on equity of 0.73%. The firm’s revenue for the quarter was up 54.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.05) earnings per share. equities research analysts predict that Veeco Instruments Inc. will post -0.01 EPS for the current year.

A number of large investors have recently modified their holdings of VECO. UBS Asset Management Americas Inc. boosted its holdings in Veeco Instruments by 89.9% during the first quarter. UBS Asset Management Americas Inc. now owns 16,895 shares of the semiconductor company’s stock worth $504,000 after buying an additional 7,996 shares in the last quarter. OppenheimerFunds Inc. boosted its holdings in Veeco Instruments by 19.7% during the first quarter. OppenheimerFunds Inc. now owns 9,103 shares of the semiconductor company’s stock worth $271,000 after buying an additional 1,496 shares in the last quarter. FMR LLC bought a new stake in Veeco Instruments during the first quarter worth approximately $5,683,000. Teachers Advisors LLC boosted its holdings in Veeco Instruments by 1.7% during the first quarter. Teachers Advisors LLC now owns 66,398 shares of the semiconductor company’s stock worth $1,982,000 after buying an additional 1,081 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Veeco Instruments by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 3,613,016 shares of the semiconductor company’s stock worth $107,848,000 after purchasing an additional 179,949 shares during the period. Hedge funds and other institutional investors own 97.16% of the company’s stock.

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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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