Veeco Instruments Inc. (NASDAQ:VECO) has been given an average recommendation of “Hold” by the thirteen ratings firms that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and five have given a buy recommendation to 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 analyst reports. ValuEngine cut Veeco Instruments from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Needham & Company LLC restated a “buy” rating and issued a $22.00 target price on shares of Veeco Instruments in a research report on Friday, November 3rd. Deutsche Bank AG set a $21.00 target price on Veeco Instruments and gave the company a “hold” rating in a research report on Wednesday, August 30th. Zacks Investment Research cut Veeco Instruments from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. Finally, Benchmark Co. restated a “buy” rating and issued a $33.00 target price on shares of Veeco Instruments in a research report on Thursday, October 5th.

Shares of Veeco Instruments (NASDAQ VECO) traded up $0.30 during trading on Thursday, hitting $16.65. The stock had a trading volume of 1,140,000 shares, compared to its average volume of 776,949. 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 fifty-two week low of $14.75 and a fifty-two week high of $34.38.

Veeco Instruments (NASDAQ:VECO) last announced its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.16. The business 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 0.73% and a negative net margin of 10.16%. The business’s quarterly revenue was up 54.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.05) EPS. research analysts expect that Veeco Instruments will post -0.01 EPS for the current year.

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Hedge funds have recently modified their holdings of the company. Ameritas Investment Partners Inc. increased its position in shares of Veeco Instruments by 32.9% during the 2nd 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 increased its position in shares of Veeco Instruments by 2,768.5% during the 2nd 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 increased its position in shares of Veeco Instruments by 4.8% during the 2nd 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 shares of Veeco Instruments during the 2nd quarter valued at $202,000. Finally, Aperio Group LLC acquired a new position in shares of Veeco Instruments during the 3rd quarter valued at $218,000. Institutional investors own 95.41% of the company’s stock.

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.

Analyst Recommendations for Veeco Instruments (NASDAQ:VECO)

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