Veeco Instruments (NASDAQ:VECO) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report released on Wednesday.
Several other analysts have also issued reports on VECO. Zacks Investment Research raised Veeco Instruments from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a report on Wednesday, October 24th. ValuEngine raised Veeco Instruments from a “strong sell” rating to a “sell” rating in a report on Tuesday, November 6th. Finally, Benchmark reissued a “hold” rating on shares of Veeco Instruments in a report on Tuesday, February 12th. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $25.00.
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VECO opened at $11.37 on Wednesday. The firm has a market cap of $551.50 million, a PE ratio of -284.25 and a beta of 1.22. Veeco Instruments has a 52-week low of $6.27 and a 52-week high of $20.55. The company has a current ratio of 3.25, a quick ratio of 2.27 and a debt-to-equity ratio of 0.66.
Veeco Instruments (NASDAQ:VECO) last released its earnings results on Monday, February 11th. The semiconductor company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.01). The company had revenue of $98.97 million for the quarter, compared to analyst estimates of $95.95 million. Veeco Instruments had a negative return on equity of 0.31% and a negative net margin of 75.10%. Equities analysts forecast that Veeco Instruments will post -0.62 earnings per share for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in VECO. Neuburgh Advisers LLC lifted its position in shares of Veeco Instruments by 47.2% during the 4th quarter. Neuburgh Advisers LLC now owns 7,040 shares of the semiconductor company’s stock worth $52,000 after buying an additional 2,256 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Veeco Instruments by 32.1% during the 4th quarter. Bank of Montreal Can now owns 7,665 shares of the semiconductor company’s stock worth $57,000 after buying an additional 1,864 shares during the last quarter. Caxton Associates LP bought a new stake in shares of Veeco Instruments during the 4th quarter worth $90,000. Fox Run Management L.L.C. bought a new stake in shares of Veeco Instruments during the 4th quarter worth $91,000. Finally, Municipal Employees Retirement System of Michigan bought a new stake in shares of Veeco Instruments during the 4th quarter worth $102,000. 93.29% of the stock is currently owned by institutional investors.
About Veeco Instruments
Veeco Instruments Inc, together with its subsidiaries, develops, manufactures, sells, and supports semiconductor process equipment worldwide. It offers metal organic chemical vapor deposition systems; packaging lithography equipment; precision surface processing systems; laser annealing systems; ion beam etch and deposition systems; molecular beam epitaxy systems; 3D wafer inspection systems; and atomic layer deposition and other deposition systems.
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