Brokerages Set Veeco Instruments Inc. (NASDAQ:VECO) Price Target at $17.43

Veeco Instruments Inc. (NASDAQ:VECO) has been assigned an average recommendation of “Buy” from the ten analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $17.43.

A number of research analysts have recently issued reports on VECO shares. Zacks Investment Research upgraded shares of Veeco Instruments from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Saturday, August 8th. Goldman Sachs Group upgraded shares of Veeco Instruments from a “neutral” rating to a “buy” rating and raised their price target for the stock from $13.50 to $16.00 in a research report on Tuesday, September 15th. Oppenheimer restated a “buy” rating and issued a $20.00 price target on shares of Veeco Instruments in a research report on Tuesday, August 11th. Northland Securities reiterated a “buy” rating and issued a $20.00 price objective on shares of Veeco Instruments in a research report on Friday, May 29th. Finally, Barclays initiated coverage on shares of Veeco Instruments in a research report on Thursday, September 17th. They issued an “overweight” rating and a $15.00 price objective on the stock.

Several hedge funds have recently added to or reduced their stakes in VECO. PNC Financial Services Group Inc. raised its position in shares of Veeco Instruments by 60.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,721 shares of the semiconductor company’s stock worth $35,000 after buying an additional 1,405 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Veeco Instruments by 107.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,708 shares of the semiconductor company’s stock worth $77,000 after buying an additional 2,952 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Veeco Instruments during the 1st quarter worth about $100,000. Public Employees Retirement Association of Colorado raised its position in shares of Veeco Instruments by 309.5% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 10,754 shares of the semiconductor company’s stock worth $103,000 after buying an additional 8,128 shares in the last quarter. Finally, Engineers Gate Manager LP bought a new stake in shares of Veeco Instruments during the 1st quarter worth about $129,000. Institutional investors own 93.58% of the company’s stock.

VECO stock traded down $0.22 during mid-day trading on Thursday, hitting $11.86. 5,437 shares of the company were exchanged, compared to its average volume of 530,774. The company has a market capitalization of $599.40 million, a PE ratio of -10.79 and a beta of 1.20. The company has a current ratio of 4.22, a quick ratio of 3.15 and a debt-to-equity ratio of 0.80. Veeco Instruments has a twelve month low of $7.42 and a twelve month high of $19.21. The firm has a fifty day simple moving average of $12.49 and a 200 day simple moving average of $11.90.

Veeco Instruments (NASDAQ:VECO) last announced its quarterly earnings data on Monday, August 3rd. The semiconductor company reported $0.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.04. Veeco Instruments had a negative net margin of 12.58% and a positive return on equity of 2.66%. The company had revenue of $98.60 million during the quarter, compared to analyst estimates of $97.83 million. During the same period last year, the business earned ($0.06) EPS. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Veeco Instruments will post 0.49 earnings per share for the current year.

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.

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Analyst Recommendations for Veeco Instruments (NASDAQ:VECO)

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