Veeco Instruments Inc. (NASDAQ:VECO) was downgraded by stock analysts at KeyCorp to a “hold” rating in a report released on Wednesday, October 25th.
Several other research analysts also recently weighed in on VECO. BidaskClub upgraded Veeco Instruments from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. Stifel Nicolaus reiterated a “buy” rating and issued a $36.00 target price (down from $38.00) on shares of Veeco Instruments in a research note on Wednesday, August 9th. Benchmark Co. reiterated a “buy” rating and issued a $33.00 target price on shares of Veeco Instruments in a research note on Thursday, October 5th. Deutsche Bank AG downgraded Veeco Instruments from a “buy” rating to a “hold” rating and lowered their target price for the company from $35.00 to $30.00 in a research note on Friday, August 4th. Finally, ValuEngine downgraded Veeco Instruments from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $29.22.
Veeco Instruments (NASDAQ VECO) traded up $0.30 during trading hours on Wednesday, reaching $15.80. The company had a trading volume of 743,700 shares, compared to its average volume of 520,473. The company has a current ratio of 2.61, a quick ratio of 2.11 and a debt-to-equity ratio of 0.32. Veeco Instruments has a 12-month low of $15.35 and a 12-month high of $34.38.
Veeco Instruments (NASDAQ:VECO) last announced its earnings results on Thursday, November 2nd. The semiconductor company reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.16. Veeco Instruments had a negative return on equity of 0.73% and a negative net margin of 10.16%. The company had revenue of $131.87 million for the quarter, compared to the consensus estimate of $134.97 million. During the same period last year, the business posted ($0.05) EPS. The company’s revenue was up 54.3% on a year-over-year basis. research analysts expect that Veeco Instruments will post -0.01 EPS for the current fiscal year.
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Several institutional investors have recently bought and sold shares of VECO. Vanguard Group Inc. boosted its stake in shares of Veeco Instruments by 15.3% in the second quarter. Vanguard Group Inc. now owns 4,167,222 shares of the semiconductor company’s stock valued at $116,057,000 after buying an additional 554,206 shares in the last quarter. Frontier Capital Management Co. LLC raised its holdings in Veeco Instruments by 24.2% during the second quarter. Frontier Capital Management Co. LLC now owns 2,601,473 shares of the semiconductor company’s stock worth $72,451,000 after purchasing an additional 506,595 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Veeco Instruments during the first quarter worth $13,116,000. Dimensional Fund Advisors LP raised its holdings in Veeco Instruments by 15.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,860,280 shares of the semiconductor company’s stock worth $79,659,000 after purchasing an additional 381,884 shares during the last quarter. Finally, Baillie Gifford & Co. raised its holdings in Veeco Instruments by 58.9% during the third quarter. Baillie Gifford & Co. now owns 927,683 shares of the semiconductor company’s stock worth $19,853,000 after purchasing an additional 343,839 shares during the last quarter. Hedge funds and other institutional investors own 96.47% of the company’s stock.
Veeco Instruments Company Profile
Veeco Instruments Inc is engaged in the design, development, manufacture and support of thin film process equipment, primarily sold to make electronic devices. The Company’s geographical segments include the United States; China; Europe, Middle East and Africa (EMEA), and Rest of World (ROW). 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.
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