Benchmark Co. reiterated their buy rating on shares of Veeco Instruments Inc. (NASDAQ:VECO) in a research report sent to investors on Friday. The brokerage currently has a $23.00 price objective on the semiconductor company’s stock.
Other research analysts have also recently issued research reports about the company. Stifel Nicolaus reissued a buy rating and issued a $38.00 target price (up previously from $36.00) on shares of Veeco Instruments in a research note on Friday, July 21st. Needham & Company LLC reduced their price objective on Veeco Instruments from $36.00 to $27.00 and set a buy rating on the stock in a research note on Wednesday, August 30th. KeyCorp cut Veeco Instruments to a hold rating in a research note on Wednesday, October 25th. BidaskClub cut Veeco Instruments from a sell rating to a strong sell rating in a research note on Thursday, August 17th. Finally, Zacks Investment Research cut Veeco Instruments from a hold rating to a sell rating in a research note on Saturday, July 22nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $29.22.
Veeco Instruments (NASDAQ:VECO) traded down $1.50 on Friday, reaching $16.30. The company had a trading volume of 963,550 shares, compared to its average volume of 527,188. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.25 and a quick ratio of 2.55.
Veeco Instruments (NASDAQ:VECO) last released 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 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 0.77% and a negative net margin of 10.16%. The firm’s revenue was up 54.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.05) earnings per share. equities analysts forecast that Veeco Instruments will post -0.04 EPS for the current year.
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Several hedge funds and other institutional investors have recently bought and sold shares of VECO. Vanguard Group Inc. grew its stake in shares of Veeco Instruments by 15.3% in the second quarter. Vanguard Group Inc. now owns 4,167,222 shares of the semiconductor company’s stock worth $116,057,000 after purchasing an additional 554,206 shares during the last quarter. Frontier Capital Management Co. LLC grew its stake in shares of Veeco Instruments by 24.2% in the second quarter. Frontier Capital Management Co. LLC now owns 2,601,473 shares of the semiconductor company’s stock worth $72,451,000 after purchasing an additional 506,595 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Veeco Instruments by 15.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,860,280 shares of the semiconductor company’s stock worth $79,659,000 after purchasing an additional 381,884 shares during the last quarter. Baillie Gifford & Co. grew its stake in shares of Veeco Instruments by 58.9% in the third quarter. Baillie Gifford & Co. now owns 927,683 shares of the semiconductor company’s stock worth $19,853,000 after purchasing an additional 343,839 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Veeco Instruments by 17.5% in the second quarter. Renaissance Technologies LLC now owns 1,441,237 shares of the semiconductor company’s stock worth $40,138,000 after purchasing an additional 214,477 shares during the last quarter. 96.13% of the stock is currently owned by institutional investors.
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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