Veeco Instruments Inc. (NASDAQ:VECO) has received an average rating of “Hold” from the fourteen research firms that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $30.89.

Several brokerages recently commented on VECO. Benchmark Co. reiterated a “buy” rating and set a $33.00 price target on shares of Veeco Instruments in a research report on Thursday, October 5th. Zacks Investment Research upgraded Veeco Instruments from a “sell” rating to a “hold” rating in a research report on Thursday, October 5th. ValuEngine cut Veeco Instruments from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Needham & Company LLC dropped their price target on Veeco Instruments from $36.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, August 30th. Finally, Deutsche Bank AG set a $21.00 price target on Veeco Instruments and gave the stock a “hold” rating in a research report on Wednesday, August 30th.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Arizona State Retirement System boosted its stake in Veeco Instruments by 1.0% during the first quarter. Arizona State Retirement System now owns 21,112 shares of the semiconductor company’s stock worth $630,000 after buying an additional 200 shares during the last quarter. Bank of Montreal Can boosted its stake 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 worth $161,000 after buying an additional 265 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Veeco Instruments by 1.6% during the second quarter. Janney Montgomery Scott LLC now owns 22,912 shares of the semiconductor company’s stock worth $638,000 after buying an additional 370 shares during the last quarter. Capstone Asset Management Co. boosted its stake in Veeco Instruments by 7.1% during the second quarter. Capstone Asset Management Co. now owns 8,367 shares of the semiconductor company’s stock worth $233,000 after buying an additional 557 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in Veeco Instruments by 0.8% during the first quarter. Legal & General Group Plc now owns 70,106 shares of the semiconductor company’s stock worth $2,094,000 after buying an additional 562 shares during the last quarter. 96.00% of the stock is currently owned by institutional investors.

Veeco Instruments (NASDAQ VECO) traded down 3.41% on Friday, reaching $21.25. The company’s stock had a trading volume of 319,370 shares. The company’s market capitalization is $1.03 billion. The firm has a 50-day moving average of $20.79 and a 200 day moving average of $26.67. Veeco Instruments has a 12-month low of $18.30 and a 12-month high of $34.38.

Veeco Instruments (NASDAQ:VECO) last issued its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported ($0.07) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.03. Veeco Instruments had a negative return on equity of 1.33% and a negative net margin of 23.65%. The firm had revenue of $115.07 million during the quarter, compared to analysts’ expectations of $110.87 million. During the same period in the previous year, the business earned ($0.19) earnings per share. The firm’s revenue for the quarter was up 52.7% on a year-over-year basis. On average, equities research analysts anticipate that Veeco Instruments will post $0.45 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.

Analyst Recommendations for Veeco Instruments (NASDAQ:VECO)

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