Analysts Set Veeco Instruments Inc. (NASDAQ:VECO) PT at $15.33

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Veeco Instruments Inc. (NASDAQ:VECO) has earned a consensus rating of “Hold” from the six analysts that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $15.33.

Several analysts have issued reports on the company. Northland Securities set a $19.00 target price on Veeco Instruments and gave the company a “buy” rating in a research report on Monday, September 30th. Zacks Investment Research cut Veeco Instruments from a “hold” rating to a “sell” rating in a research report on Saturday, October 5th. ValuEngine cut Veeco Instruments from a “hold” rating to a “sell” rating in a research report on Wednesday, September 11th. Finally, BidaskClub cut Veeco Instruments from a “buy” rating to a “hold” rating in a research report on Tuesday, October 1st.

Institutional investors and hedge funds have recently modified their holdings of the company. Northern Trust Corp lifted its holdings in shares of Veeco Instruments by 4.2% during the 2nd quarter. Northern Trust Corp now owns 613,982 shares of the semiconductor company’s stock valued at $7,502,000 after purchasing an additional 24,507 shares during the last quarter. Elkfork Partners LLC lifted its holdings in shares of Veeco Instruments by 11.2% during the 2nd quarter. Elkfork Partners LLC now owns 14,476 shares of the semiconductor company’s stock valued at $177,000 after purchasing an additional 1,456 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Veeco Instruments by 25.5% during the 2nd quarter. Renaissance Technologies LLC now owns 887,213 shares of the semiconductor company’s stock valued at $10,842,000 after purchasing an additional 180,100 shares during the last quarter. Aperio Group LLC lifted its holdings in shares of Veeco Instruments by 7.5% during the 2nd quarter. Aperio Group LLC now owns 18,886 shares of the semiconductor company’s stock valued at $231,000 after purchasing an additional 1,310 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Veeco Instruments by 720.1% during the 2nd quarter. Invesco Ltd. now owns 4,759,206 shares of the semiconductor company’s stock valued at $58,157,000 after purchasing an additional 4,178,877 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

NASDAQ VECO traded down $0.07 during midday trading on Thursday, hitting $11.21. 15,587 shares of the company traded hands, compared to its average volume of 276,336. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.29 and a quick ratio of 2.36. The company has a market cap of $552.38 million, a PE ratio of -278.50 and a beta of 1.36. The company’s 50-day simple moving average is $10.75 and its 200-day simple moving average is $11.62. Veeco Instruments has a 52 week low of $6.27 and a 52 week high of $15.00.

Veeco Instruments (NASDAQ:VECO) last announced its earnings results on Monday, August 5th. The semiconductor company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.02). The company had revenue of $97.80 million for the quarter, compared to the consensus estimate of $101.43 million. Veeco Instruments had a negative net margin of 44.39% and a negative return on equity of 5.61%. The firm’s revenue was down 38.0% compared to the same quarter last year. During the same period last year, the business posted $0.15 EPS. On average, research analysts predict that Veeco Instruments will post -0.44 earnings per share for the current year.

Veeco Instruments Company Profile

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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