Veeco Instruments Inc. (VECO) Earns Buy Rating from Stifel Nicolaus
Veeco Instruments Inc. (NASDAQ:VECO)‘s stock had its “buy” rating reissued by analysts at Stifel Nicolaus in a research note issued on Friday. They presently have a $38.00 price objective on the semiconductor company’s stock, up from their previous price objective of $36.00. Stifel Nicolaus’ price objective indicates a potential upside of 15.33% from the company’s current price.
A number of other equities analysts have also issued reports on the company. BidaskClub upgraded Veeco Instruments from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. J P Morgan Chase & Co upgraded Veeco Instruments from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $35.00 to $39.00 in a research report on Tuesday, June 13th. Needham & Company LLC restated a “buy” rating and issued a $36.00 target price (up from $30.00) on shares of Veeco Instruments in a research report on Monday, April 24th. Benchmark Co. restated a “buy” rating and issued a $39.00 target price on shares of Veeco Instruments in a research report on Friday, April 21st. Finally, Zacks Investment Research downgraded Veeco Instruments from a “buy” rating to a “hold” rating in a research report on Thursday, April 20th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $34.22.
Veeco Instruments (VECO) traded down 1.52% during mid-day trading on Friday, hitting $32.45. The stock had a trading volume of 88,390 shares. The stock’s market cap is $1.32 billion. The company has a 50-day moving average of $29.90 and a 200-day moving average of $29.38. Veeco Instruments has a 12-month low of $16.37 and a 12-month high of $34.38.
Veeco Instruments (NASDAQ:VECO) last issued its quarterly earnings data on Thursday, May 4th. The semiconductor company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 analyst estimates of $94.50 million. During the same period in the prior year, the company posted ($0.15) EPS. The business’s revenue for the quarter was up 21.0% compared to the same quarter last year. On average, analysts anticipate that Veeco Instruments will post $1.06 earnings per share for the current fiscal year.
In other news, President William John Miller sold 8,481 shares of the stock in a transaction on Friday, May 19th. The stock was sold at an average price of $31.51, for a total transaction of $267,236.31. Following the completion of the sale, the president now owns 69,792 shares in the company, valued at approximately $2,199,145.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter J. Simone sold 4,257 shares of the stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $31.91, for a total value of $135,840.87. Following the sale, the director now owns 24,332 shares of the company’s stock, valued at approximately $776,434.12. The disclosure for this sale can be found here. Insiders have sold a total of 21,574 shares of company stock valued at $689,717 in the last quarter. Insiders own 2.90% of the company’s stock.
Several large investors have recently made changes to their positions in VECO. Creative Planning increased its stake in shares of Veeco Instruments by 3.4% in the first quarter. Creative Planning now owns 3,624 shares of the semiconductor company’s stock worth $108,000 after buying an additional 120 shares during the period. FNY Partners Fund LP bought a new stake in shares of Veeco Instruments during the first quarter worth approximately $126,000. State of Alaska Department of Revenue increased its stake in shares of Veeco Instruments by 1.8% in the first quarter. State of Alaska Department of Revenue now owns 4,480 shares of the semiconductor company’s stock worth $133,000 after buying an additional 80 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Veeco Instruments by 2,768.5% in the second quarter. Nisa Investment Advisors LLC now owns 5,737 shares of the semiconductor company’s stock worth $160,000 after buying an additional 5,537 shares during the period. Finally, Bank of Montreal Can increased its stake in shares of Veeco Instruments by 4.8% in the second quarter. Bank of Montreal Can now owns 5,771 shares of the semiconductor company’s stock worth $161,000 after buying an additional 265 shares during the period. Institutional investors own 86.73% of the company’s stock.
Veeco Instruments Company Profile
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.
Receive News & Ratings for Veeco Instruments Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veeco Instruments Inc. and related companies with MarketBeat.com's FREE daily email newsletter.