Shares of Veeco Instruments Inc. (NASDAQ:VECO) have received an average rating of “Hold” from the nine ratings firms that are presently covering the stock, Marketbeat.com reports. Two equities 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. The average 1 year price target among analysts that have issued a report on the stock in the last year is $28.20.
Several equities analysts recently weighed in on VECO shares. Zacks Investment Research upgraded Veeco Instruments from a “sell” rating to a “hold” rating in a research report on Tuesday, February 20th. Benchmark restated a “buy” rating and issued a $23.00 price objective on shares of Veeco Instruments in a report on Friday, November 3rd. Needham & Company LLC restated a “buy” rating and issued a $22.00 price objective on shares of Veeco Instruments in a report on Friday, November 3rd. Finally, BidaskClub downgraded Veeco Instruments from a “sell” rating to a “strong sell” rating in a report on Thursday, December 7th.
In related news, SVP John P. Kiernan bought 5,000 shares of the stock in a transaction dated Wednesday, December 13th. The stock was acquired at an average price of $13.65 per share, for a total transaction of $68,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President William John Miller bought 15,000 shares of the stock in a transaction dated Wednesday, December 13th. The stock was bought at an average price of $13.75 per share, with a total value of $206,250.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 63,700 shares of company stock worth $877,472. Company insiders own 2.90% of the company’s stock.
Veeco Instruments (NASDAQ VECO) traded up $0.60 during midday trading on Friday, reaching $19.30. The company had a trading volume of 392,000 shares, compared to its average volume of 728,917. Veeco Instruments has a 1 year low of $10.85 and a 1 year high of $34.38. The stock has a market capitalization of $900.53, a P/E ratio of -19.49 and a beta of 0.78. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.67 and a quick ratio of 2.13.
Veeco Instruments (NASDAQ:VECO) last released its earnings results on Monday, February 12th. The semiconductor company reported $0.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.10. Veeco Instruments had a negative return on equity of 0.12% and a negative net margin of 9.24%. The firm had revenue of $143.40 million for the quarter, compared to the consensus estimate of $143.85 million. During the same period in the prior year, the business posted $0.09 earnings per share. The firm’s revenue for the quarter was up 53.2% compared to the same quarter last year. sell-side analysts predict that Veeco Instruments will post 0.3 EPS for the current fiscal year.
Veeco Instruments declared that its board has approved a share repurchase program on Monday, December 11th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the semiconductor company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is 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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