Veeco Instruments Receives Consensus Rating of “Hold” from Brokerages (NASDAQ:VECO)
Shares of Veeco Instruments (NASDAQ:VECO) have been given an average recommendation of “Hold” by the seventeen ratings firms that are covering the company, American Banking & Market News reports. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $39.63.
Shares of Veeco Instruments (NASDAQ:VECO) opened at 35.56 on Monday. 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 $35.27 and a 200-day moving average of $36.91. The company’s market cap is $1.430 billion.
Veeco Instruments (NASDAQ:VECO) last released its 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. Analysts expect that Veeco Instruments will post $-0.33 EPS for the current fiscal year.
A number of research firms have recently commented on VECO. Analysts at Summit Research reiterated a “sell” rating on shares of Veeco Instruments in a research note on Wednesday, August 20th. They now have a $25.00 price target on the stock. Separately, 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. Finally, 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.
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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