Several other research analysts also recently commented on VECO. Zacks Investment Research raised Veeco Instruments from a hold rating to a buy rating and set a $19.00 price objective for the company in a research note on Tuesday, July 12th. Benchmark Co. increased their price objective on Veeco Instruments from $21.00 to $23.00 and gave the company a buy rating in a research note on Monday, September 12th. Finally, Deutsche Bank AG raised Veeco Instruments from a hold rating to a buy rating and increased their price objective for the company from $16.00 to $22.00 in a research note on Tuesday, August 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $24.00.
Shares of Veeco Instruments (NASDAQ:VECO) opened at 21.68 on Friday. Veeco Instruments has a 12 month low of $15.26 and a 12 month high of $22.41. The company’s market cap is $881.03 million. The company has a 50-day moving average of $19.98 and a 200 day moving average of $18.49.
Veeco Instruments (NASDAQ:VECO) last posted its quarterly earnings data on Monday, August 1st. The company reported ($0.19) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.01. Veeco Instruments had a negative return on equity of 2.37% and a negative net margin of 13.00%. The firm earned $75.30 million during the quarter, compared to the consensus estimate of $76.30 million. During the same period in the prior year, the company earned $0.20 EPS. The firm’s revenue was down 42.7% compared to the same quarter last year. On average, analysts anticipate that Veeco Instruments will post ($0.50) earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the company. TIAA CREF Investment Management LLC boosted its position in Veeco Instruments by 5.8% in the first quarter. TIAA CREF Investment Management LLC now owns 137,916 shares of the company’s stock worth $2,687,000 after buying an additional 7,558 shares in the last quarter. Prudential Financial Inc. boosted its position in Veeco Instruments by 0.7% in the first quarter. Prudential Financial Inc. now owns 95,573 shares of the company’s stock worth $1,862,000 after buying an additional 700 shares in the last quarter. BlackRock Group LTD boosted its position in Veeco Instruments by 0.5% in the first quarter. BlackRock Group LTD now owns 752,718 shares of the company’s stock worth $14,662,000 after buying an additional 3,757 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Veeco Instruments by 1.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,007,751 shares of the company’s stock worth $19,631,000 after buying an additional 10,498 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. acquired a new position in Veeco Instruments during the first quarter worth $5,060,000. Institutional investors and hedge funds own 94.95% of the company’s stock.
About Veeco Instruments
Veeco Instruments Inc designs, manufactures, markets and supports thin film equipment. The Company’s equipment is used to make electronic devices, including light emitting diodes (LED), micro-electromechanical systems (MEMS), wireless devices, power electronics, hard disk drives (HDDs) and semiconductors.
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