Several other research firms also recently issued reports on VECO. BidaskClub upgraded Veeco Instruments from a strong sell rating to a sell rating in a report on Tuesday. Zacks Investment Research downgraded Veeco Instruments from a hold rating to a sell rating in a report on Saturday, September 7th. Benchmark reiterated a buy rating and issued a $15.00 target price on shares of Veeco Instruments in a report on Thursday, May 16th. Finally, Northland Securities set a $19.00 target price on Veeco Instruments and gave the company a buy rating in a report on Friday, September 6th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $15.50.
NASDAQ VECO traded up $0.21 on Wednesday, hitting $11.19. 255,092 shares of the company were exchanged, compared to its average volume of 327,350. The company’s 50 day moving average price is $10.73 and its 200-day moving average price is $11.59. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.29 and a quick ratio of 2.36. The firm has a market capitalization of $537.70 million, a P/E ratio of -279.75 and a beta of 1.31. Veeco Instruments has a twelve month low of $6.27 and a twelve month high of $15.00.
Several institutional investors and hedge funds have recently modified their holdings of the company. Comerica Bank increased its holdings in shares of Veeco Instruments by 2.4% in the 1st quarter. Comerica Bank now owns 47,535 shares of the semiconductor company’s stock valued at $573,000 after purchasing an additional 1,129 shares during the period. Glen Harbor Capital Management LLC increased its holdings in shares of Veeco Instruments by 11.2% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 11,374 shares of the semiconductor company’s stock valued at $139,000 after purchasing an additional 1,144 shares during the period. Aperio Group LLC increased its holdings in shares of Veeco Instruments by 7.5% in the 2nd quarter. Aperio Group LLC now owns 18,886 shares of the semiconductor company’s stock valued at $231,000 after purchasing an additional 1,310 shares during the period. Bank of Montreal Can increased its holdings in shares of Veeco Instruments by 17.4% in the 1st quarter. Bank of Montreal Can now owns 8,998 shares of the semiconductor company’s stock valued at $98,000 after purchasing an additional 1,333 shares during the period. Finally, Texas Permanent School Fund increased its holdings in shares of Veeco Instruments by 4.3% in the 1st quarter. Texas Permanent School Fund now owns 32,618 shares of the semiconductor company’s stock valued at $354,000 after purchasing an additional 1,343 shares during the period. Institutional investors own 91.56% of the company’s stock.
Veeco Instruments Company Profile
Veeco Instruments Inc, together with its subsidiaries, develops, manufactures, sells, and supports semiconductor and thin film process equipment primarily to make electronic devices worldwide. It offers metal organic chemical vapor deposition systems; packaging lithography equipment; precision surface processing systems; laser annealing systems; ion beam deposition and etch systems; molecular beam epitaxy systems; 3D wafer inspection systems; and atomic layer deposition and other deposition systems.
Featured Story: Stock Selection – What is cash flow?
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Veeco Instruments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veeco Instruments and related companies with MarketBeat.com's FREE daily email newsletter.