BNP Paribas Upgrades Veeco Instruments to Outperform (VECO)
Veeco Instruments (NASDAQ: VECO) was upgraded by analysts at BNP Paribas (EPA: BNP) from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday.
A number of other analysts have also recently weighed in on VECO. Analysts at Piper Jaffray (NYSE: PJC) upgraded shares of Veeco Instruments from a “neutral” rating to an “overweight” rating in a research note to investors on Wednesday, May 9th. They now have a $50.00 price target on the stock. Separately, analysts at Barclays Capital (NYSE: BCS) upgraded shares of Veeco Instruments from an “equal weight” rating to an “overweight” rating in a research note to investors on Tuesday, May 8th. They now have a $45.00 price target on the stock, up previously from $34.00. Finally, analysts at Barclays Capital (NYSE: BCS) reiterated an “equal weight” rating on shares of Veeco Instruments in a research note to investors on Tuesday, May 1st.
Veeco Instruments traded down 1.01% on Wednesday, hitting $34.42. Veeco Instruments has a 52-week low of $20.35 and a 52-week high of $57.39. The company has a market cap of $1.337 billion and a price-to-earnings ratio of 15.24.
Veeco Instruments last announced its earnings results on Monday, April 30th. The company reported $0.49 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.21 by $0.28. The company’s quarterly revenue was down 45.1% on a year-over-year basis. On average, analysts predict that Veeco Instruments will post $0.34 earnings per share next quarter.
Veeco Instruments Inc. (Veeco) designs, manufactures and markets equipment to make light emitting diodes (LEDs), hard-disk drives, as well as for emerging applications such as concentrator photovoltaics, power semiconductors, wireless components, microelectromechanical systems (MEMS), and other next-generation devices.