Veeco Instruments Inc. (NASDAQ:VECO) has been given a consensus recommendation of “Buy” by the six research firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $14.25.
Several brokerages have commented on VECO. Zacks Investment Research raised Veeco Instruments from a “hold” rating to a “strong-buy” rating and set a $16.00 price objective on the stock in a research report on Thursday, May 16th. BidaskClub cut Veeco Instruments from a “hold” rating to a “sell” rating in a report on Tuesday, June 18th. ValuEngine upgraded Veeco Instruments from a “sell” rating to a “hold” rating in a report on Thursday, April 4th. Finally, Benchmark upgraded Veeco Instruments from a “hold” rating to a “buy” rating and set a $14.75 target price for the company in a report on Tuesday, May 7th.
Veeco Instruments stock traded down $0.23 during mid-day trading on Tuesday, hitting $10.95. The company’s stock had a trading volume of 9,850 shares, compared to its average volume of 251,461. The company has a 50 day simple moving average of $12.10. The company has a market capitalization of $544.13 million, a PE ratio of -274.75 and a beta of 1.27. The company has a current ratio of 3.32, a quick ratio of 2.34 and a debt-to-equity ratio of 0.69. Veeco Instruments has a one year low of $6.27 and a one year high of $16.30.
Several hedge funds have recently modified their holdings of the business. Neuburgh Advisers LLC lifted its stake in shares of Veeco Instruments by 47.2% during the 4th quarter. Neuburgh Advisers LLC now owns 7,040 shares of the semiconductor company’s stock worth $52,000 after purchasing an additional 2,256 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Veeco Instruments by 32.1% during the 4th quarter. Bank of Montreal Can now owns 7,665 shares of the semiconductor company’s stock worth $57,000 after purchasing an additional 1,864 shares during the last quarter. Caxton Associates LP purchased a new stake in shares of Veeco Instruments during the 4th quarter worth $90,000. Municipal Employees Retirement System of Michigan purchased a new stake in shares of Veeco Instruments during the 4th quarter worth $102,000. Finally, Metropolitan Life Insurance Co. NY lifted its stake in shares of Veeco Instruments by 387.8% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 15,672 shares of the semiconductor company’s stock worth $116,000 after purchasing an additional 12,459 shares during the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.
Veeco Instruments Company Profile
Veeco Instruments Inc, together with its subsidiaries, develops, manufactures, sells, and supports semiconductor and thin film process equipment primarily to make electronic devices worldwide. It offers metal organic chemical vapor deposition systems; packaging lithography equipment; precision surface processing systems; laser annealing systems; ion beam deposition and etch systems; molecular beam epitaxy systems; 3D wafer inspection systems; and atomic layer deposition and other deposition systems.
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