Veeco Instruments (VECO) Raised to “Hold” at ValuEngine

Veeco Instruments (NASDAQ:VECO) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Monday, February 4th.

Other analysts have also issued reports about the stock. BidaskClub raised shares of Veeco Instruments from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 31st. Zacks Investment Research lowered shares of Veeco Instruments from a “buy” rating to a “hold” rating in a research note on Thursday, October 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Veeco Instruments currently has a consensus rating of “Hold” and an average price target of $25.00.

VECO stock traded up $0.18 on Monday, hitting $11.60. 282,744 shares of the company’s stock traded hands, compared to its average volume of 396,946. Veeco Instruments has a 1-year low of $6.27 and a 1-year high of $20.55. The firm has a market cap of $559.66 million, a PE ratio of -290.00 and a beta of 1.22. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.25 and a quick ratio of 2.27.

Veeco Instruments (NASDAQ:VECO) last released its earnings results on Monday, February 11th. The semiconductor company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.01). Veeco Instruments had a negative net margin of 75.10% and a negative return on equity of 0.31%. The business had revenue of $98.97 million for the quarter, compared to analyst estimates of $95.95 million. As a group, sell-side analysts expect that Veeco Instruments will post -0.62 earnings per share for the current year.

Large investors have recently modified their holdings of the stock. Candriam Luxembourg S.C.A. lifted its position in shares of Veeco Instruments by 51.0% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 615,443 shares of the semiconductor company’s stock valued at $6,308,000 after acquiring an additional 207,796 shares in the last quarter. Capital World Investors lifted its position in shares of Veeco Instruments by 148.3% in the 3rd quarter. Capital World Investors now owns 1,490,000 shares of the semiconductor company’s stock valued at $15,273,000 after acquiring an additional 890,000 shares in the last quarter. Westpac Banking Corp lifted its position in shares of Veeco Instruments by 10.5% in the 3rd quarter. Westpac Banking Corp now owns 297,840 shares of the semiconductor company’s stock valued at $3,053,000 after acquiring an additional 28,400 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Veeco Instruments by 443.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 21,200 shares of the semiconductor company’s stock valued at $217,000 after acquiring an additional 17,300 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its position in shares of Veeco Instruments by 1.0% in the 4th quarter. Fisher Asset Management LLC now owns 1,426,999 shares of the semiconductor company’s stock valued at $10,574,000 after acquiring an additional 14,316 shares in the last quarter. Institutional investors and hedge funds own 93.29% of the company’s stock.

Veeco Instruments Company Profile

Veeco Instruments Inc, together with its subsidiaries, develops, manufactures, sells, and supports semiconductor process equipment worldwide. It offers metal organic chemical vapor deposition systems; packaging lithography equipment; precision surface processing systems; laser annealing systems; ion beam etch and deposition systems; molecular beam epitaxy systems; 3D wafer inspection systems; and atomic layer deposition and other deposition systems.

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