Veeco Instruments (NASDAQ:VECO) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Thursday.

VECO has been the subject of several other reports. Needham & Company LLC reissued a “buy” rating and issued a $22.00 price objective on shares of Veeco Instruments in a research report on Friday, November 3rd. ValuEngine cut Veeco Instruments from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Zacks Investment Research cut Veeco Instruments from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. Deutsche Bank set a $21.00 price objective on Veeco Instruments and gave the company a “hold” rating in a research report on Wednesday, August 30th. Finally, Benchmark reissued a “buy” rating and issued a $33.00 price objective on shares of Veeco Instruments in a research report on Thursday, October 5th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. Veeco Instruments currently has a consensus rating of “Hold” and a consensus target price of $29.22.

Veeco Instruments (NASDAQ:VECO) traded down $0.05 on Thursday, hitting $14.65. The stock had a trading volume of 574,760 shares, compared to its average volume of 530,781. Veeco Instruments has a 12 month low of $14.40 and a 12 month high of $34.38. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.61 and a quick ratio of 2.11.

Veeco Instruments (NASDAQ:VECO) last posted its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.16. Veeco Instruments had a negative return on equity of 0.73% and a negative net margin of 10.16%. The company had revenue of $131.87 million during the quarter, compared to analysts’ expectations of $134.97 million. During the same period in the prior year, the business earned ($0.05) earnings per share. Veeco Instruments’s revenue for the quarter was up 54.3% compared to the same quarter last year. sell-side analysts predict that Veeco Instruments will post -0.01 EPS for the current year.

A number of hedge funds have recently modified their holdings of the stock. Bank of Montreal Can lifted its position 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 worth $161,000 after purchasing an additional 265 shares during the period. Janney Montgomery Scott LLC lifted its position in Veeco Instruments by 1.6% in the second quarter. Janney Montgomery Scott LLC now owns 22,912 shares of the semiconductor company’s stock worth $638,000 after purchasing an additional 370 shares during the period. Capstone Asset Management Co. lifted its position in Veeco Instruments by 7.1% in the second quarter. Capstone Asset Management Co. now owns 8,367 shares of the semiconductor company’s stock worth $233,000 after purchasing an additional 557 shares during the period. Ameritas Investment Partners Inc. lifted its position in Veeco Instruments by 32.9% in the second quarter. Ameritas Investment Partners Inc. now owns 4,143 shares of the semiconductor company’s stock worth $115,000 after purchasing an additional 1,026 shares during the period. Finally, Teachers Advisors LLC lifted its position in Veeco Instruments by 1.7% in the first quarter. Teachers Advisors LLC now owns 66,398 shares of the semiconductor company’s stock worth $1,982,000 after purchasing an additional 1,081 shares during the period. 98.85% of the stock is owned by hedge funds and other institutional investors.

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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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