Veeco Instruments Inc. (NASDAQ:VECO) has been assigned a consensus rating of “Hold” from the twelve brokerages that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $34.13.

Several equities research analysts recently weighed in on the stock. BidaskClub upgraded shares of Veeco Instruments from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. Benchmark Co. reiterated a “buy” rating and issued a $39.00 target price on shares of Veeco Instruments in a research note on Friday, April 21st. Deutsche Bank AG cut shares of Veeco Instruments from a “buy” rating to a “hold” rating and reduced their target price for the company from $35.00 to $30.00 in a research note on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $36.00 target price (up previously from $30.00) on shares of Veeco Instruments in a research note on Monday, April 24th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $36.00 target price on shares of Veeco Instruments in a research note on Sunday, April 23rd.

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In related news, President William John Miller sold 8,481 shares of the stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $31.51, for a total value of $267,236.31. Following the completion of the transaction, the president now owns 69,792 shares of the company’s stock, valued at $2,199,145.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter J. Simone sold 4,257 shares of the stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $31.91, for a total transaction of $135,840.87. Following the completion of the transaction, 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. Corporate insiders own 2.90% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Creative Planning raised its stake in Veeco Instruments by 3.4% in the first quarter. Creative Planning now owns 3,624 shares of the semiconductor company’s stock valued at $108,000 after buying an additional 120 shares during the last quarter. FNY Partners Fund LP purchased a new stake in Veeco Instruments during the first quarter valued at $126,000. State of Alaska Department of Revenue raised its stake in 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 valued at $133,000 after buying an additional 80 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in 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 valued at $160,000 after buying an additional 5,537 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in Veeco Instruments by 4.8% in the second quarter. Bank of Montreal Can now owns 5,771 shares of the semiconductor company’s stock valued at $161,000 after buying an additional 265 shares during the last quarter. 87.07% of the stock is owned by hedge funds and other institutional investors.

Shares of Veeco Instruments (NASDAQ:VECO) traded down 6.93% during mid-day trading on Tuesday, hitting $21.50. The stock had a trading volume of 1,051,659 shares. The firm’s 50 day moving average price is $29.78 and its 200-day moving average price is $29.50. The company’s market cap is $872.43 million. Veeco Instruments has a one year low of $18.60 and a one year high of $34.38.

Veeco Instruments (NASDAQ:VECO) last released its earnings results on Thursday, August 3rd. The semiconductor company reported ($0.07) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.03. Veeco Instruments had a negative net margin of 23.65% and a negative return on equity of 1.33%. The business had revenue of $115.07 million during the quarter, compared to analysts’ expectations of $110.87 million. During the same quarter last year, the company earned ($0.19) earnings per share. The firm’s revenue was up 52.7% on a year-over-year basis. On average, equities research analysts anticipate that Veeco Instruments will post $0.77 earnings per share for the current fiscal year.

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.

Analyst Recommendations for Veeco Instruments (NASDAQ:VECO)

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