Veeco Instruments (VECO) – Investment Analysts’ Recent Ratings Changes

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A number of research firms have changed their ratings and price targets for Veeco Instruments (NASDAQ: VECO):

  • 11/12/2018 – Veeco Instruments was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 11/6/2018 – Veeco Instruments was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating.
  • 10/31/2018 – Veeco Instruments was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 10/25/2018 – Veeco Instruments was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Veeco Instruments Inc. is engaged in the design, development, manufacture and support of thin film process equipment, primarily sold to make electronic devices. Veeco’s process equipment solutions enable the manufacture of LEDs, power electronics, hard drives, MEMS and wireless chips. They are the market leader in MOCVD, MBE, Ion Beam and other advanced thin film process technologies. 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. The Company’s System products include Metal Organic Chemical Vapor Deposition Systems, Precision Surface Processing Systems, Ion Beam Etch and Deposition Systems, Molecular Beam Epitaxy Systems, and Other Deposition and Industrial Products. The Company’s original name Veeco stood for Vacuum Electronic Equipment Company. “
  • 10/24/2018 – Veeco Instruments was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $10.00 price target on the stock. According to Zacks, “Veeco Instruments Inc. is engaged in the design, development, manufacture and support of thin film process equipment, primarily sold to make electronic devices. Veeco’s process equipment solutions enable the manufacture of LEDs, power electronics, hard drives, MEMS and wireless chips. They are the market leader in MOCVD, MBE, Ion Beam and other advanced thin film process technologies. 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. The Company’s System products include Metal Organic Chemical Vapor Deposition Systems, Precision Surface Processing Systems, Ion Beam Etch and Deposition Systems, Molecular Beam Epitaxy Systems, and Other Deposition and Industrial Products. The Company’s original name Veeco stood for Vacuum Electronic Equipment Company. “
  • 9/26/2018 – Veeco Instruments was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.

Veeco Instruments stock opened at $7.77 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.28 and a current ratio of 3.15. Veeco Instruments Inc. has a 1 year low of $6.61 and a 1 year high of $20.55. The stock has a market capitalization of $370.40 million, a PE ratio of -388.50 and a beta of 0.69.

Veeco Instruments (NASDAQ:VECO) last posted its quarterly earnings results on Thursday, November 1st. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.03. Veeco Instruments had a negative net margin of 45.70% and a positive return on equity of 1.93%. The company had revenue of $126.76 million for the quarter, compared to the consensus estimate of $135.50 million. During the same period last year, the firm posted $0.09 EPS. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, research analysts expect that Veeco Instruments Inc. will post -0.01 earnings per share for the current year.

In other news, CFO Shubham Maheshwari acquired 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 23rd. The shares were acquired at an average price of $10.05 per share, with a total value of $50,250.00. Following the acquisition, the chief financial officer now directly owns 93,323 shares in the company, valued at $937,896.15. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.60% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its holdings in shares of Veeco Instruments by 0.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,336,188 shares of the semiconductor company’s stock worth $34,196,000 after acquiring an additional 18,822 shares during the period. River & Mercantile Asset Management LLP increased its holdings in shares of Veeco Instruments by 41.8% in the 2nd quarter. River & Mercantile Asset Management LLP now owns 2,034,760 shares of the semiconductor company’s stock worth $29,046,000 after acquiring an additional 599,972 shares during the period. Baillie Gifford & Co. increased its holdings in shares of Veeco Instruments by 15.9% in the 3rd quarter. Baillie Gifford & Co. now owns 1,497,372 shares of the semiconductor company’s stock worth $15,348,000 after acquiring an additional 205,958 shares during the period. Royce & Associates LP increased its holdings in shares of Veeco Instruments by 36.6% in the 3rd quarter. Royce & Associates LP now owns 838,082 shares of the semiconductor company’s stock worth $8,590,000 after acquiring an additional 224,600 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Veeco Instruments by 3.2% in the 2nd quarter. Northern Trust Corp now owns 621,291 shares of the semiconductor company’s stock worth $8,854,000 after acquiring an additional 19,385 shares during the period. 93.55% of the stock is currently owned by institutional investors and hedge funds.

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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