Veeco Instruments (NASDAQ:VECO) Upgraded at BidaskClub

BidaskClub upgraded shares of Veeco Instruments (NASDAQ:VECO) from a sell rating to a hold rating in a research note published on Monday morning, BidAskClub reports.

VECO has been the topic of several other research reports. ValuEngine downgraded Veeco Instruments from a hold rating to a sell rating in a report on Wednesday, September 11th. Zacks Investment Research downgraded Veeco Instruments from a hold rating to a sell rating in a report on Friday, September 13th. Finally, Northland Securities set a $19.00 price target on Veeco Instruments and gave the stock a buy rating in a report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $15.50.

VECO stock opened at $11.73 on Monday. The company has a current ratio of 3.29, a quick ratio of 2.36 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $574.42 million, a PE ratio of -293.25 and a beta of 1.31. Veeco Instruments has a 12-month low of $6.27 and a 12-month high of $15.00. The business’s fifty day moving average price is $10.64 and its 200 day moving average price is $11.59.



Veeco Instruments (NASDAQ:VECO) last posted its quarterly earnings data on Monday, August 5th. The semiconductor company reported ($0.16) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.02). Veeco Instruments had a negative net margin of 44.39% and a negative return on equity of 5.61%. The firm had revenue of $97.80 million during the quarter, compared to analysts’ expectations of $101.43 million. During the same quarter in the prior year, the firm posted $0.15 EPS. Veeco Instruments’s quarterly revenue was down 38.0% compared to the same quarter last year. Research analysts predict that Veeco Instruments will post -0.44 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of VECO. Bank of Montreal Can increased its holdings in Veeco Instruments by 17.4% during the 1st quarter. Bank of Montreal Can now owns 8,998 shares of the semiconductor company’s stock worth $98,000 after purchasing an additional 1,333 shares during the period. Comerica Bank increased its holdings in Veeco Instruments by 2.4% during the 1st quarter. Comerica Bank now owns 47,535 shares of the semiconductor company’s stock worth $573,000 after purchasing an additional 1,129 shares during the period. Texas Permanent School Fund increased its holdings in Veeco Instruments by 4.3% during the 1st quarter. Texas Permanent School Fund now owns 32,618 shares of the semiconductor company’s stock worth $354,000 after purchasing an additional 1,343 shares during the period. California Public Employees Retirement System increased its holdings in Veeco Instruments by 24.6% during the 1st quarter. California Public Employees Retirement System now owns 443,909 shares of the semiconductor company’s stock worth $4,812,000 after purchasing an additional 87,689 shares during the period. Finally, First Trust Advisors LP increased its holdings in Veeco Instruments by 4.3% during the 1st quarter. First Trust Advisors LP now owns 46,775 shares of the semiconductor company’s stock worth $507,000 after purchasing an additional 1,945 shares during the period. Institutional investors own 83.34% of the company’s stock.

About Veeco Instruments

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.

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