Veeco Instruments Inc. (NASDAQ:VECO)‘s stock had its “buy” rating reaffirmed by equities researchers at Benchmark Co. in a research report issued to clients and investors on Friday. They presently have a $23.00 price target on the semiconductor company’s stock. Benchmark Co.’s target price indicates a potential upside of 41.10% from the stock’s previous close.

A number of other equities analysts have also weighed in on VECO. BidaskClub upgraded Veeco Instruments from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. Stifel Nicolaus reiterated a “buy” rating and set a $36.00 price objective (down previously from $38.00) on shares of Veeco Instruments in a research note on Wednesday, August 9th. KeyCorp lowered Veeco Instruments to a “hold” rating in a research note on Wednesday, October 25th. Deutsche Bank AG lowered Veeco Instruments from a “buy” rating to a “hold” rating and reduced their price objective for the company from $35.00 to $30.00 in a research note on Friday, August 4th. Finally, ValuEngine lowered Veeco Instruments from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. Veeco Instruments currently has an average rating of “Hold” and an average price target of $29.22.

Shares of Veeco Instruments (VECO) traded down $1.50 during mid-day trading on Friday, reaching $16.30. The company had a trading volume of 963,550 shares, compared to its average volume of 527,188. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.25 and a quick ratio of 2.55.

Veeco Instruments (NASDAQ:VECO) last issued its earnings results on Thursday, November 2nd. The semiconductor company reported $0.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.16. The company had revenue of $131.87 million during the quarter, compared to analyst estimates of $134.97 million. Veeco Instruments had a negative return on equity of 0.77% and a negative net margin of 10.16%. The firm’s quarterly revenue was up 54.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.05) EPS. analysts forecast that Veeco Instruments will post -0.04 earnings per share for the current fiscal year.

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A number of hedge funds have recently bought and sold shares of VECO. Vanguard Group Inc. boosted its holdings in Veeco Instruments by 15.3% in the 2nd quarter. Vanguard Group Inc. now owns 4,167,222 shares of the semiconductor company’s stock worth $116,057,000 after buying an additional 554,206 shares during the last quarter. Frontier Capital Management Co. LLC boosted its holdings in Veeco Instruments by 24.2% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 2,601,473 shares of the semiconductor company’s stock worth $72,451,000 after buying an additional 506,595 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Veeco Instruments by 15.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,860,280 shares of the semiconductor company’s stock worth $79,659,000 after buying an additional 381,884 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in Veeco Instruments by 58.9% in the 3rd quarter. Baillie Gifford & Co. now owns 927,683 shares of the semiconductor company’s stock worth $19,853,000 after buying an additional 343,839 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Veeco Instruments by 17.5% in the 2nd quarter. Renaissance Technologies LLC now owns 1,441,237 shares of the semiconductor company’s stock worth $40,138,000 after purchasing an additional 214,477 shares in the last quarter. Institutional investors own 96.13% of the company’s stock.

About Veeco Instruments

Veeco Instruments Inc is engaged in the design, development, manufacture and support of thin film process equipment, primarily sold to make electronic devices. The Company’s geographical segments include the United States; China; Europe, Middle East and Africa (EMEA), and Rest of World (ROW). The Company’s portfolio of technology solutions focus on market areas, including Lighting, Display & Power Electronics; Advanced Packaging, micro-electromechanical systems (MEMS) & radio frequency (RF); Scientific & Industrial, and Data Storage.

Analyst Recommendations for Veeco Instruments (NASDAQ:VECO)

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