Veeco Instruments Inc. (NASDAQ:VECO) shot up 5% during mid-day trading on Tuesday . The company traded as high as $12.87 and last traded at $12.50. 1,612,100 shares traded hands during trading, an increase of 188% from the average session volume of 560,531 shares. The stock had previously closed at $11.90.

A number of research firms have issued reports on VECO. KeyCorp reduced their target price on shares of Veeco Instruments from $34.00 to $31.00 and set an “overweight” rating on the stock in a report on Friday, August 18th. BidaskClub lowered shares of Veeco Instruments from a “sell” rating to a “strong sell” rating in a report on Thursday, August 17th. Benchmark restated a “buy” rating and issued a $33.00 price objective on shares of Veeco Instruments in a report on Thursday, October 5th. ValuEngine lowered shares of Veeco Instruments from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Finally, Deutsche Bank set a $21.00 price objective on shares of Veeco Instruments and gave the company a “hold” rating in a report on Wednesday, August 30th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. Veeco Instruments presently has an average rating of “Hold” and an average target price of $29.22.

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

Several hedge funds and other institutional investors have recently bought and sold shares of VECO. Teachers Advisors LLC grew its position in shares of Veeco Instruments by 1.7% in the 1st quarter. Teachers Advisors LLC now owns 66,398 shares of the semiconductor company’s stock valued at $1,982,000 after buying an additional 1,081 shares during the last quarter. Capstone Asset Management Co. grew its position in shares of Veeco Instruments by 7.1% in the 2nd quarter. Capstone Asset Management Co. now owns 8,367 shares of the semiconductor company’s stock valued at $233,000 after buying an additional 557 shares during the last quarter. Bank of Montreal Can grew its position in shares of Veeco Instruments by 4.8% in the 2nd quarter. Bank of Montreal Can now owns 5,771 shares of the semiconductor company’s stock valued at $161,000 after buying an additional 265 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Veeco Instruments by 2,768.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 5,737 shares of the semiconductor company’s stock valued at $160,000 after buying an additional 5,537 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of Veeco Instruments by 137.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 71,160 shares of the semiconductor company’s stock valued at $1,982,000 after buying an additional 41,205 shares during the last quarter. 98.85% of the stock is currently owned by hedge funds and other institutional investors.

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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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