StockNews.com lowered shares of Veeco Instruments (NASDAQ:VECO – Free Report) from a hold rating to a sell rating in a report released on Wednesday.
VECO has been the subject of several other research reports. Benchmark reissued a “buy” rating and issued a $42.00 price target on shares of Veeco Instruments in a report on Wednesday, August 7th. Needham & Company LLC restated a “buy” rating and set a $55.00 price target on shares of Veeco Instruments in a research note on Wednesday, August 7th. Oppenheimer lifted their price objective on shares of Veeco Instruments from $45.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, June 27th. Citigroup downgraded Veeco Instruments from a “buy” rating to a “neutral” rating and upped their target price for the company from $45.00 to $50.00 in a research report on Monday, July 15th. Finally, Northland Securities lowered their price target on Veeco Instruments from $53.00 to $47.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Veeco Instruments currently has a consensus rating of “Hold” and a consensus target price of $45.57.
Read Our Latest Research Report on VECO
Veeco Instruments Stock Up 0.3 %
Veeco Instruments (NASDAQ:VECO – Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.01). Veeco Instruments had a return on equity of 12.03% and a net margin of 11.83%. The firm had revenue of $175.88 million during the quarter, compared to analysts’ expectations of $176.03 million. During the same period in the prior year, the firm posted $0.21 earnings per share. Veeco Instruments’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, equities analysts anticipate that Veeco Instruments will post 1.2 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Veeco Instruments news, CFO John P. Kiernan sold 2,500 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $29.04, for a total value of $72,600.00. Following the sale, the chief financial officer now directly owns 85,142 shares of the company’s stock, valued at approximately $2,472,523.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.40% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Veeco Instruments
Hedge funds have recently bought and sold shares of the stock. Signaturefd LLC increased its holdings in shares of Veeco Instruments by 130.6% during the 3rd quarter. Signaturefd LLC now owns 1,328 shares of the semiconductor company’s stock valued at $44,000 after purchasing an additional 752 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Veeco Instruments by 237.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,677 shares of the semiconductor company’s stock worth $78,000 after acquiring an additional 1,180 shares in the last quarter. Montag A & Associates Inc. purchased a new position in shares of Veeco Instruments in the 1st quarter valued at about $99,000. nVerses Capital LLC raised its holdings in Veeco Instruments by 733.3% in the 2nd quarter. nVerses Capital LLC now owns 2,500 shares of the semiconductor company’s stock worth $117,000 after purchasing an additional 2,200 shares during the period. Finally, International Assets Investment Management LLC boosted its position in Veeco Instruments by 3,213.1% during the third quarter. International Assets Investment Management LLC now owns 4,804 shares of the semiconductor company’s stock worth $145,000 after purchasing an additional 4,659 shares in the last quarter. Hedge funds and other institutional investors own 98.46% of the company’s stock.
About Veeco Instruments
Veeco Instruments Inc, together with its subsidiaries, develops, manufactures, sells, and supports semiconductor and thin film process equipment primarily to make electronic devices in the United States, Europe, the Middle East, and Africa, China, Rest of the Asia-Pacific, and internationally. The company offers laser annealing, ion beam deposition and etch, metal organic chemical vapor deposition, single wafer wet processing and surface preparation, molecular beam epitaxy, advanced packaging lithography, atomic layer deposition, and other deposition systems.
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