Veeco Instruments (VECO) Earning Somewhat Favorable News Coverage, Study Shows
News headlines about Veeco Instruments (NASDAQ:VECO) have been trending somewhat positive this week, according to Accern Sentiment Analysis. The research group identifies positive and negative media coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Veeco Instruments earned a daily sentiment score of 0.18 on Accern’s scale. Accern also gave news stories about the semiconductor company an impact score of 45.7219507151553 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
Several equities analysts recently issued reports on the stock. TheStreet upgraded shares of Veeco Instruments from a “d+” rating to a “c” rating in a report on Monday, March 12th. Zacks Investment Research lowered shares of Veeco Instruments from a “hold” rating to a “sell” rating in a report on Saturday, January 6th. Finally, BidaskClub lowered shares of Veeco Instruments from a “sell” rating to a “strong sell” rating in a report on Thursday, December 7th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. Veeco Instruments has an average rating of “Hold” and a consensus price target of $28.67.
Veeco Instruments (VECO) opened at $18.35 on Friday. Veeco Instruments has a fifty-two week low of $10.85 and a fifty-two week high of $34.38. The firm has a market cap of $895.14, a PE ratio of -18.54 and a beta of 0.64. The company has a current ratio of 2.67, a quick ratio of 2.13 and a debt-to-equity ratio of 0.33.
Veeco Instruments declared that its Board of Directors has authorized a stock repurchase plan on Monday, December 11th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.
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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.
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