Veeco (VECO) Given Consensus Recommendation of “Buy” by Analysts

Shares of Veeco (NASDAQ:VECO) have been assigned a consensus recommendation of “Buy” from the eleven ratings firms that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $26.67.

A number of research analysts have issued reports on VECO shares. Zacks Investment Research raised shares of Veeco from a “sell” rating to a “hold” rating in a report on Saturday, February 10th. TheStreet raised shares of Veeco from a “d+” rating to a “c” rating in a report on Monday, March 12th. Finally, Northland Securities assumed coverage on shares of Veeco in a report on Thursday, April 19th. They set an “outperform” rating for the company.

Shares of NASDAQ VECO traded up $0.65 during midday trading on Thursday, reaching $17.80. The company had a trading volume of 792,600 shares, compared to its average volume of 592,743. The stock has a market cap of $796.11 million, a P/E ratio of -890.00 and a beta of 0.58. Veeco has a 1 year low of $16.40 and a 1 year high of $16.77. The company has a current ratio of 2.80, a quick ratio of 2.17 and a debt-to-equity ratio of 0.34.

Veeco (NASDAQ:VECO) last posted its quarterly earnings results on Monday, May 7th. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.14. The business had revenue of $158.57 million during the quarter, compared to analysts’ expectations of $151.62 million. Veeco had a negative net margin of 11.24% and a positive return on equity of 0.51%. The business’s quarterly revenue was up 67.8% on a year-over-year basis. During the same quarter last year, the company posted $0.09 earnings per share. sell-side analysts forecast that Veeco will post 0.41 earnings per share for the current year.

Several institutional investors have recently modified their holdings of VECO. OppenheimerFunds Inc. raised its holdings in shares of Veeco by 14,387.2% during the fourth quarter. OppenheimerFunds Inc. now owns 2,019,224 shares of the semiconductor company’s stock worth $29,986,000 after purchasing an additional 2,005,286 shares during the last quarter. Carillon Tower Advisers Inc. acquired a new stake in Veeco during the fourth quarter valued at $24,236,000. River & Mercantile Asset Management LLP grew its position in Veeco by 163.8% during the first quarter. River & Mercantile Asset Management LLP now owns 1,434,788 shares of the semiconductor company’s stock valued at $24,356,000 after buying an additional 890,988 shares during the period. GCA Investment Management LLC acquired a new stake in Veeco during the fourth quarter valued at $7,262,000. Finally, Two Sigma Investments LP grew its position in Veeco by 2,081.1% during the fourth quarter. Two Sigma Investments LP now owns 488,609 shares of the semiconductor company’s stock valued at $7,256,000 after buying an additional 466,207 shares during the period. 98.52% of the stock is owned by hedge funds and other institutional investors.

Veeco Company Profile

Veeco Instruments Inc, together with its subsidiaries, develops, manufactures, sells, and supports semiconductor process equipment worldwide. It offers metal organic chemical vapor deposition systems; packaging lithography equipment; precision surface processing systems; laser annealing systems; ion beam etch and deposition systems; molecular beam epitaxy systems; 3D wafer inspection systems; and atomic layer deposition and other deposition systems.

Analyst Recommendations for Veeco (NASDAQ:VECO)

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