Veeco Instruments (NASDAQ:VECO) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Thursday.
VECO has been the topic of several other reports. Needham & Company LLC reissued a “buy” rating and issued a $22.00 target price on shares of Veeco Instruments in a research report on Friday, November 3rd. ValuEngine cut shares of Veeco Instruments from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Zacks Investment Research cut shares of Veeco Instruments from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. Deutsche Bank set a $21.00 price target on shares of Veeco Instruments and gave the company a “hold” rating in a research report on Wednesday, August 30th. Finally, Benchmark reaffirmed a “buy” rating and set a $33.00 price target on shares of Veeco Instruments in a research report on Thursday, October 5th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $29.22.
Shares of Veeco Instruments (NASDAQ VECO) opened at $14.70 on Thursday. 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 12-month low of $14.40 and a 12-month high of $34.38.
Veeco Instruments (NASDAQ:VECO) last released its earnings results on Thursday, November 2nd. The semiconductor company reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.16. Veeco Instruments had a negative net margin of 10.16% and a negative return on equity of 0.73%. The business had revenue of $131.87 million for the quarter, compared to analysts’ expectations of $134.97 million. During the same period last year, the company earned ($0.05) earnings per share. The company’s quarterly revenue was up 54.3% on a year-over-year basis. equities research analysts expect that Veeco Instruments will post -0.01 EPS for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the company. Ameritas Investment Partners Inc. raised its stake in shares of Veeco Instruments by 32.9% during the second 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 raised its stake in shares of Veeco Instruments by 2,768.5% during the second 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 raised its stake in shares of Veeco Instruments by 4.8% during the second 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 purchased a new stake in shares of Veeco Instruments during the second quarter valued at approximately $202,000. Finally, Capstone Asset Management Co. raised its stake in shares of Veeco Instruments by 7.1% during the second quarter. Capstone Asset Management Co. now owns 8,367 shares of the semiconductor company’s stock valued at $233,000 after purchasing an additional 557 shares during the period. Institutional investors own 98.85% 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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