Shares of Veeco Instruments Inc. (NASDAQ:VECO) have been given an average rating of “Hold” by the twelve brokerages that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $29.00.

A number of analysts have recently weighed in on VECO shares. Deutsche Bank set a $21.00 price target on Veeco Instruments and gave the stock a “hold” rating in a research report on Wednesday, August 30th. Benchmark restated a “buy” rating and issued a $33.00 target price on shares of Veeco Instruments in a research report on Thursday, October 5th. BidaskClub cut Veeco Instruments from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 17th. Zacks Investment Research upgraded Veeco Instruments from a “sell” rating to a “hold” rating in a research report on Thursday, October 5th. Finally, KeyCorp cut Veeco Instruments to a “hold” rating in a research report on Wednesday, October 25th.

Several institutional investors and hedge funds have recently added to or reduced their stakes in VECO. Boston Partners acquired a new stake in shares of Veeco Instruments in the second quarter worth $3,485,000. Piedmont Investment Advisors LLC acquired a new stake in shares of Veeco Instruments in the second quarter worth $289,000. California Public Employees Retirement System boosted its position in shares of Veeco Instruments by 13.2% in the second quarter. California Public Employees Retirement System now owns 140,840 shares of the semiconductor company’s stock worth $3,922,000 after buying an additional 16,440 shares during the period. Candriam Luxembourg S.C.A. boosted its position in shares of Veeco Instruments by 100.6% in the third quarter. Candriam Luxembourg S.C.A. now owns 230,368 shares of the semiconductor company’s stock worth $4,930,000 after buying an additional 115,505 shares during the period. Finally, Symphony Asset Management LLC raised its holdings in shares of Veeco Instruments by 66.8% during the second quarter. Symphony Asset Management LLC now owns 46,404 shares of the semiconductor company’s stock worth $1,292,000 after acquiring an additional 18,582 shares in the last quarter. 98.85% of the stock is owned by institutional investors and hedge funds.

Shares of Veeco Instruments (NASDAQ VECO) traded up $0.60 during midday trading on Monday, reaching $12.50. The company’s stock had a trading volume of 1,612,122 shares, compared to its average volume of 560,531. Veeco Instruments has a 12-month low of $10.85 and a 12-month high of $34.38. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.11 and a current ratio of 2.61.

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

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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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