Shares of Veeco Instruments Inc. (NASDAQ:VECO) have been given an average rating of “Buy” by the eleven ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $34.00.

VECO has been the subject of several recent analyst reports. Zacks Investment Research upgraded Veeco Instruments from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research report on Tuesday, April 4th. Benchmark Co. restated a “buy” rating and set a $35.00 price objective (up from $32.50) on shares of Veeco Instruments in a research report on Wednesday, March 22nd. Needham & Company LLC restated a “buy” rating and set a $30.00 price objective on shares of Veeco Instruments in a research report on Tuesday, February 21st. Stifel Nicolaus restated a “buy” rating and set a $36.00 price objective on shares of Veeco Instruments in a research report on Sunday, April 23rd. Finally, BidaskClub upgraded Veeco Instruments from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th.

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In other news, President William John Miller sold 8,481 shares of the stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $31.51, for a total value of $267,236.31. Following the completion of the sale, the president now owns 69,792 shares of the company’s stock, valued at $2,199,145.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Peter J. Simone sold 4,257 shares of the stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $31.91, for a total value of $135,840.87. Following the completion of the sale, the director now directly owns 24,332 shares of the company’s stock, valued at approximately $776,434.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,574 shares of company stock valued at $689,717. Insiders own 2.90% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Russell Investments Group Ltd. bought a new stake in shares of Veeco Instruments during the fourth quarter valued at $1,586,000. Comerica Bank boosted its stake in shares of Veeco Instruments by 5.5% in the fourth quarter. Comerica Bank now owns 43,800 shares of the semiconductor company’s stock valued at $1,200,000 after buying an additional 2,301 shares during the last quarter. State Street Corp boosted its stake in shares of Veeco Instruments by 9.9% in the fourth quarter. State Street Corp now owns 871,543 shares of the semiconductor company’s stock valued at $25,404,000 after buying an additional 78,545 shares during the last quarter. Van ECK Associates Corp bought a new stake in shares of Veeco Instruments during the fourth quarter valued at $1,197,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Veeco Instruments by 10.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,218,748 shares of the semiconductor company’s stock valued at $64,677,000 after buying an additional 204,940 shares during the last quarter. 86.69% of the stock is owned by institutional investors.

Veeco Instruments (NASDAQ VECO) traded up 2.08% during trading on Monday, reaching $29.40. The company had a trading volume of 481,912 shares. The company’s market capitalization is $1.19 billion. Veeco Instruments has a 52-week low of $15.53 and a 52-week high of $34.38. The company has a 50 day moving average price of $31.74 and a 200 day moving average price of $29.16.

Veeco Instruments (NASDAQ:VECO) last announced its quarterly earnings data on Thursday, May 4th. The semiconductor company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). Veeco Instruments had a negative return on equity of 2.77% and a negative net margin of 30.27%. The business had revenue of $94.39 million during the quarter, compared to the consensus estimate of $94.50 million. During the same period in the prior year, the company earned ($0.15) EPS. Veeco Instruments’s revenue for the quarter was up 21.0% on a year-over-year basis. On average, equities analysts forecast that Veeco Instruments will post $1.10 EPS for the current fiscal year.

About Veeco Instruments

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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