A number of other research analysts have also weighed in on VECO. ValuEngine lowered Veeco Instruments from a hold rating to a sell rating in a report on Wednesday, September 11th. Zacks Investment Research lowered Veeco Instruments from a hold rating to a sell rating in a report on Friday, September 13th. Finally, Northland Securities set a $19.00 target price on Veeco Instruments and gave the company a buy rating in a report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The company has an average rating of Hold and an average target price of $15.50.
VECO stock opened at $11.63 on Monday. Veeco Instruments has a twelve month low of $6.27 and a twelve month high of $15.00. The company has a quick ratio of 2.36, a current ratio of 3.29 and a debt-to-equity ratio of 0.71. The stock’s 50 day moving average is $10.64 and its 200-day moving average is $11.59. The firm has a market capitalization of $569.53 million, a PE ratio of -290.75 and a beta of 1.31.
Veeco Instruments (NASDAQ:VECO) last posted its earnings results on Monday, August 5th. The semiconductor company reported ($0.16) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.02). Veeco Instruments had a negative net margin of 44.39% and a negative return on equity of 5.61%. The company had revenue of $97.80 million during the quarter, compared to the consensus estimate of $101.43 million. During the same quarter in the prior year, the business earned $0.15 EPS. The firm’s revenue for the quarter was down 38.0% compared to the same quarter last year. On average, equities research analysts anticipate that Veeco Instruments will post -0.44 earnings per share for the current fiscal year.
Hedge funds have recently bought and sold shares of the company. Bank of Montreal Can lifted its holdings in shares of Veeco Instruments by 17.4% in the first quarter. Bank of Montreal Can now owns 8,998 shares of the semiconductor company’s stock valued at $98,000 after purchasing an additional 1,333 shares in the last quarter. Glen Harbor Capital Management LLC lifted its holdings in Veeco Instruments by 11.2% during the second quarter. Glen Harbor Capital Management LLC now owns 11,374 shares of the semiconductor company’s stock worth $139,000 after acquiring an additional 1,144 shares during the period. Elkfork Partners LLC lifted its holdings in Veeco Instruments by 11.2% during the second quarter. Elkfork Partners LLC now owns 14,476 shares of the semiconductor company’s stock worth $177,000 after acquiring an additional 1,456 shares during the period. Meadow Creek Investment Management LLC lifted its holdings in Veeco Instruments by 11.2% during the second quarter. Meadow Creek Investment Management LLC now owns 17,578 shares of the semiconductor company’s stock worth $215,000 after acquiring an additional 1,768 shares during the period. Finally, Aperio Group LLC lifted its holdings in Veeco Instruments by 7.5% during the second quarter. Aperio Group LLC now owns 18,886 shares of the semiconductor company’s stock worth $231,000 after acquiring an additional 1,310 shares during the period. Institutional investors own 83.34% of the company’s stock.
About Veeco Instruments
Veeco Instruments Inc, together with its subsidiaries, develops, manufactures, sells, and supports semiconductor and thin film process equipment primarily to make electronic devices worldwide. It offers metal organic chemical vapor deposition systems; packaging lithography equipment; precision surface processing systems; laser annealing systems; ion beam deposition and etch systems; molecular beam epitaxy systems; 3D wafer inspection systems; and atomic layer deposition and other deposition systems.
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