Shares of Veeco Instruments Inc. (NASDAQ:VECO) have received an average recommendation of “Hold” from the twelve analysts that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $34.13.

A number of research firms have recently commented on VECO. BidaskClub lowered shares of Veeco Instruments from a “hold” rating to a “sell” rating in a research note on Saturday. Deutsche Bank AG lowered shares of 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. Zacks Investment Research lowered shares of Veeco Instruments from a “hold” rating to a “sell” rating in a research note on Saturday, July 22nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $38.00 price objective (up from $36.00) on shares of Veeco Instruments in a research note on Friday, July 21st. Finally, J P Morgan Chase & Co raised shares of Veeco Instruments from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $35.00 to $39.00 in a research note on Tuesday, June 13th.

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Shares of Veeco Instruments (VECO) traded down 6.93% during trading on Tuesday, reaching $21.50. 1,051,659 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $29.78 and its 200-day moving average price is $29.50. Veeco Instruments has a 52-week low of $18.60 and a 52-week high of $34.38. The stock’s market cap is $872.43 million.

Veeco Instruments (NASDAQ:VECO) last posted its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported ($0.07) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.03. Veeco Instruments had a negative net margin of 23.65% and a negative return on equity of 1.33%. The company had revenue of $115.07 million for the quarter, compared to analyst estimates of $110.87 million. During the same period in the prior year, the firm posted ($0.19) EPS. The company’s quarterly revenue was up 52.7% on a year-over-year basis. On average, equities research analysts forecast that Veeco Instruments will post $0.77 EPS for the current year.

In related news, Director Peter J. Simone sold 4,257 shares of the stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $31.91, for a total transaction of $135,840.87. Following the transaction, the director now directly owns 24,332 shares of the company’s stock, valued at $776,434.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President William John Miller sold 8,481 shares of the stock in a transaction on Friday, May 19th. The stock was sold at an average price of $31.51, for a total transaction of $267,236.31. Following the transaction, the president now directly owns 69,792 shares in the company, valued at $2,199,145.92. The disclosure for this sale can be found here. 2.90% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue raised its position in shares of Veeco Instruments by 1.8% in the first quarter. State of Alaska Department of Revenue now owns 4,480 shares of the semiconductor company’s stock valued at $133,000 after buying an additional 80 shares in the last quarter. Creative Planning raised its position in shares of Veeco Instruments by 3.4% in the first quarter. Creative Planning now owns 3,624 shares of the semiconductor company’s stock valued at $108,000 after buying an additional 120 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of Veeco Instruments by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 16,500 shares of the semiconductor company’s stock valued at $493,000 after buying an additional 200 shares in the last quarter. Arizona State Retirement System raised its position in shares of Veeco Instruments by 1.0% in the first quarter. Arizona State Retirement System now owns 21,112 shares of the semiconductor company’s stock valued at $630,000 after buying an additional 200 shares in the last quarter. Finally, Bank of Montreal Can raised its position in shares of Veeco Instruments by 4.8% in the second quarter. Bank of Montreal Can now owns 5,771 shares of the semiconductor company’s stock valued at $161,000 after buying an additional 265 shares in the last quarter. 87.07% of the stock is currently owned by institutional investors and hedge funds.

Veeco Instruments Company Profile

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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