Credit Suisse Boosts Veeco Instruments Earnings Estimates (VECO)
Research analysts at Credit Suisse (NYSE: CS) lifted their EPS estimates on shares of Veeco Instruments (NASDAQ: VECO) in a report released on Tuesday. The firm currently has a “neutral” rating and a $32.00 price target on the company’s shares.
Shares of Veeco Instruments traded up 2.89% during mid-day trading on Tuesday, hitting $35.825. Veeco Instruments has a 52 week low of $20.35 and a 52 week high of $57.67. The company has a market cap of $1.389 billion and a P/E ratio of 11.19.
The company last announced its quarterly results on Monday, April 30th. It reported $0.49 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.21 EPS 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 $0.31 earnings per share next quarter.
A number of other analysts have also recently weighed in on VECO. Analysts at UBS AG (NYSE: UBS) raised their price target on shares of Veeco Instruments from $36.00 to $42.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Separately, analysts at Needham & Company reiterated a “hold” rating on shares of Veeco Instruments in a research note to investors on Tuesday. Finally, analysts at Canaccord Genuity reiterated a “sell” rating on shares of Veeco Instruments in a research note to investors on Tuesday.
Veeco Instruments Inc. designs, manufactures and markets equipment to make light emitting diodes (LEDs), solar cells, hard-disk drives and other devices.