Veeco Instruments Inc. (VECO) Given “Buy” Rating at Benchmark Co.
Veeco Instruments Inc. (NASDAQ:VECO)‘s stock had its “buy” rating reaffirmed by research analysts at Benchmark Co. in a note issued to investors on Thursday. They currently have a $33.00 price objective on the semiconductor company’s stock. Benchmark Co.’s price objective suggests a potential upside of 56.40% from the company’s previous close.
Other research analysts have also issued reports about the stock. J P Morgan Chase & Co upgraded shares of 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. Zacks Investment Research upgraded shares of Veeco Instruments from a “sell” rating to a “hold” rating in a research report on Thursday. Stifel Nicolaus reiterated a “buy” rating and issued a $38.00 target price (up from $36.00) on shares of Veeco Instruments in a research report on Friday, July 21st. BidaskClub lowered shares of Veeco Instruments from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 17th. Finally, Needham & Company LLC cut their target price on shares of Veeco Instruments from $36.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, August 30th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $30.89.
Shares of Veeco Instruments (NASDAQ VECO) traded down 0.71% on Thursday, hitting $20.95. The stock had a trading volume of 181,567 shares. The company’s market capitalization is $1.01 billion. The firm has a 50-day moving average of $20.01 and a 200 day moving average of $27.34. Veeco Instruments has a 1-year low of $18.30 and a 1-year high of $34.38.
Veeco Instruments (NASDAQ:VECO) last announced its earnings results on Thursday, August 3rd. The semiconductor company reported ($0.07) earnings per share (EPS) for the quarter, topping the 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 company had revenue of $115.07 million during the quarter, compared to analyst estimates of $110.87 million. During the same period in the previous year, the business earned ($0.19) earnings per share. The firm’s quarterly revenue was up 52.7% compared to the same quarter last year. On average, equities analysts anticipate that Veeco Instruments will post $0.46 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. boosted its position in Veeco Instruments by 32.9% during the second quarter. Ameritas Investment Partners Inc. now owns 4,143 shares of the semiconductor company’s stock valued at $115,000 after buying an additional 1,026 shares during the period. FNY Partners Fund LP purchased a new stake in Veeco Instruments during the first quarter valued at about $126,000. Nisa Investment Advisors LLC boosted its position in Veeco Instruments by 2,768.5% during 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 period. Bank of Montreal Can boosted its position in Veeco Instruments by 4.8% during 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 period. Finally, Stifel Financial Corp purchased a new stake in Veeco Instruments during the second quarter valued at about $202,000. Institutional investors and hedge funds own 96.00% 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.
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