Veeco Instruments Rating Reiterated by Summit Research (VECO)
Veeco Instruments (NASDAQ:VECO)‘s stock had its “sell” rating reissued by analysts at Summit Research in a research report issued to clients and investors on Wednesday. They currently have a $25.00 price target on the stock. Summit Research‘s target price indicates a potential downside of 31.86% from the stock’s previous close.
VECO has been the subject of a number of other recent research reports. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Veeco Instruments in a research note on Thursday, July 31st. They now have a $40.00 price target on the stock, down previously from $42.50. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of Veeco Instruments in a research note on Thursday, July 31st. They now have a $40.00 price target on the stock, down previously from $43.00. Finally, analysts at Canaccord Genuity reiterated a “hold” rating on shares of Veeco Instruments in a research note on Thursday, July 31st. They now have a $33.00 price target on the stock, down previously from $34.00. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $39.63.
Veeco Instruments (NASDAQ:VECO) opened at 36.69 on Wednesday. Veeco Instruments has a one year low of $28.23 and a one year high of $44.39. The stock has a 50-day moving average of $35.41 and a 200-day moving average of $36.94. The company’s market cap is $1.476 billion.
Veeco Instruments (NASDAQ:VECO) last posted its quarterly earnings results on Wednesday, July 30th. The company reported ($0.16) earnings per share for the quarter, beating the analysts’ 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 last year, the company posted ($0.11) earnings per share. Veeco Instruments’s revenue was down 2.4% compared to the same quarter last year. Analysts expect that Veeco Instruments will post $-0.33 EPS 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.
To view Summit Research’s full report, visit Summit Research’s official website.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.