Veeco Instruments Inc. (VECO) Receives $8.75 Consensus Price Target from Brokerages

Shares of Veeco Instruments Inc. (NASDAQ:VECO) have been assigned an average recommendation of “Hold” from the six analysts that are covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and two have issued a buy rating on the company.

VECO has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Veeco Instruments from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research note on Wednesday, October 24th. BidaskClub raised shares of Veeco Instruments from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 31st. ValuEngine raised shares of Veeco Instruments from a “strong sell” rating to a “sell” rating in a research note on Tuesday, November 6th. Finally, Benchmark reaffirmed a “hold” rating on shares of Veeco Instruments in a research note on Tuesday.

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Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of Montreal Can grew its holdings 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 purchasing an additional 1,864 shares during the period. Neuburgh Advisers LLC grew its holdings 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 purchasing an additional 2,256 shares during the period. Arizona State Retirement System grew its holdings in shares of Veeco Instruments by 4.0% during the 4th quarter. Arizona State Retirement System now owns 73,601 shares of the semiconductor company’s stock worth $545,000 after purchasing an additional 2,823 shares during the period. KBC Group NV grew its holdings in shares of Veeco Instruments by 8.5% during the 4th quarter. KBC Group NV now owns 82,183 shares of the semiconductor company’s stock worth $609,000 after purchasing an additional 6,457 shares during the period. Finally, Teachers Advisors LLC grew its holdings in shares of Veeco Instruments by 8.0% during the 3rd quarter. Teachers Advisors LLC now owns 97,205 shares of the semiconductor company’s stock worth $996,000 after purchasing an additional 7,182 shares during the period. 90.92% of the stock is owned by institutional investors.

VECO stock traded up $0.19 during trading on Friday, hitting $11.64. The stock had a trading volume of 313,743 shares, compared to its average volume of 385,962. Veeco Instruments has a 1-year low of $6.27 and a 1-year high of $20.55. The company has a market capitalization of $556.31 million, a price-to-earnings ratio of -291.00 and a beta of 1.22. The company has a current ratio of 3.25, a quick ratio of 2.28 and a debt-to-equity ratio of 0.66.

Veeco Instruments (NASDAQ:VECO) last posted its quarterly earnings data on Monday, February 11th. The semiconductor company reported ($0.24) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.01). Veeco Instruments had a negative net margin of 75.10% and a negative return on equity of 0.31%. The company had revenue of $98.97 million for the quarter, compared to analyst estimates of $95.95 million. As a group, research analysts predict that Veeco Instruments will post -0.32 earnings per share for the current year.

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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