Noble Financial Upgrades Veeco Instruments to Hold (VECO)
Veeco Instruments (NASDAQ:VECO) was upgraded by Noble Financial from a “sell” rating to a “hold” rating in a research note issued on Thursday, TheFlyOnTheWall.com reports.
Other equities research analysts have also recently issued reports about the stock. Analysts at Berenberg Bank reiterated a “buy” rating on shares of Veeco Instruments in a research note on Friday, June 20th. They now have a $41.00 price target on the stock, down previously from $46.00. Separately, 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. Finally, 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. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Veeco Instruments currently has an average rating of “Hold” and a consensus target price of $40.94.
Shares of Veeco Instruments (NASDAQ:VECO) opened at 35.77 on Thursday. Veeco Instruments has a 52-week low of $28.23 and a 52-week high of $44.39. The stock has a 50-day moving average of $34.91 and a 200-day moving average of $37.0. The company’s market cap is $1.432 billion.
Veeco Instruments (NASDAQ:VECO) last issued its quarterly earnings data on Wednesday, July 30th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.02. The company had revenue of $95.10 million for the quarter, compared to the consensus estimate of $92.84 million. During the same quarter in the previous year, the company posted ($0.11) earnings per share. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, analysts predict that Veeco Instruments will post $-0.21 earnings per share for the current fiscal year.
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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