ValuEngine lowered shares of Veeco Instruments Inc. (NASDAQ:VECO) from a hold rating to a sell rating in a research report report published on Friday morning.

Several other analysts also recently weighed in on VECO. BidaskClub raised shares of Veeco Instruments from a sell rating to a hold rating in a research note on Saturday, June 10th. J P Morgan Chase & Co raised shares of Veeco Instruments from a neutral rating to an overweight rating and boosted their price objective for the stock from $35.00 to $39.00 in a research note on Tuesday, June 13th. Stifel Nicolaus reissued a buy rating and issued a $38.00 price objective (up previously from $36.00) on shares of Veeco Instruments in a research note on Friday, July 21st. Zacks Investment Research downgraded shares of Veeco Instruments from a hold rating to a sell rating in a research note on Saturday, July 22nd. Finally, Deutsche Bank AG downgraded shares of Veeco Instruments from a buy rating to a hold rating and reduced their price objective for the stock from $35.00 to $30.00 in a research note on Friday, August 4th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. The company has an average rating of Hold and an average target price of $31.70.

Veeco Instruments (NASDAQ:VECO) traded up 2.65% during midday trading on Friday, reaching $19.40. The company’s stock had a trading volume of 446,853 shares. The firm’s market cap is $939.35 million. Veeco Instruments has a 52-week low of $18.30 and a 52-week high of $34.38. The firm has a 50 day moving average of $24.66 and a 200 day moving average of $28.55.

Veeco Instruments (NASDAQ:VECO) last announced its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported ($0.07) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.03. The business had revenue of $115.07 million during the quarter, compared to the consensus estimate of $110.87 million. Veeco Instruments had a negative net margin of 15.98% and a negative return on equity of 9.61%. The firm’s quarterly revenue was up 52.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.19) earnings per share. Analysts anticipate that Veeco Instruments will post $0.48 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This piece was first reported by Daily Political and is the sole property of of Daily Political. If you are accessing this piece on another domain, it was stolen and reposted in violation of United States and international copyright and trademark law. The original version of this piece can be viewed at https://www.dailypolitical.com/2017/09/02/veeco-instruments-inc-veco-downgraded-to-sell-at-valuengine.html.

A number of hedge funds and other institutional investors have recently bought and sold shares of VECO. Vanguard Group Inc. increased its position in Veeco Instruments by 15.3% in the second 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 in the last quarter. Frontier Capital Management Co. LLC increased its position in Veeco Instruments by 24.2% in the second 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 in the last quarter. Point72 Asset Management L.P. acquired a new position in Veeco Instruments during the first quarter worth about $13,116,000. Dimensional Fund Advisors LP increased its position in Veeco Instruments by 15.4% in the second 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 in the last quarter. Finally, Renaissance Technologies LLC increased its position in Veeco Instruments by 17.5% in the second quarter. Renaissance Technologies LLC now owns 1,441,237 shares of the semiconductor company’s stock worth $40,138,000 after buying an additional 214,477 shares in the last quarter. Institutional investors own 96.16% 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)

Receive News & Ratings for Veeco Instruments Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veeco Instruments Inc. and related companies with MarketBeat.com's FREE daily email newsletter.