Veeco Instruments Rating Reiterated by Berenberg Bank (VECO)
Veeco Instruments (NASDAQ:VECO)‘s stock had its “buy” rating reaffirmed by research analysts at Berenberg Bank in a report released on Friday. They currently have a $41.00 price objective on the stock, down from their previous price objective of $46.00. Berenberg Bank’s target price points to a potential upside of 16.05% from the company’s current price.
Veeco Instruments (NASDAQ:VECO) traded down 0.61% during mid-day trading on Friday, hitting $35.115. 225,216 shares of the company’s stock traded hands. Veeco Instruments has a 1-year low of $28.23 and a 1-year high of $44.39. The stock has a 50-day moving average of $32. and a 200-day moving average of $36.35. The company’s market cap is $1.406 billion.
Veeco Instruments (NASDAQ:VECO) last announced its earnings results on Monday, May 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.10. The company had revenue of $90.84 million for the quarter, compared to the consensus estimate of $89.38 million. The company’s revenue for the quarter was up 47.0% on a year-over-year basis. On average, analysts predict that Veeco Instruments will post $-0.19 earnings per share for the current fiscal year.
VECO has been the subject of a number of other recent research reports. Analysts at Ned Davis Research upgraded shares of Veeco Instruments from a “sell” rating to a “neutral” rating in a research note on Monday, May 12th. Separately, analysts at Goldman Sachs raised their price target on shares of Veeco Instruments from $27.00 to $30.00 in a research note on Tuesday, May 6th. Finally, analysts at JPMorgan Chase & Co. cut their price target on shares of Veeco Instruments from $44.00 to $42.50 in a research note on Tuesday, May 6th. They now have an “overweight” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. Veeco Instruments currently has an average rating of “Hold” and a consensus price target of $40.34.
Veeco Instruments Inc (NASDAQ:VECO) designs, manufactures and markets equipment to make light emitting diodes (LEDs), hard-disk drives, as well as for emerging applications such as concentrator photovoltaics, power semiconductors, wireless components, microelectromechanical systems (MEMS), and other next-generation devices.
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