UBS AG Sets Veeco Instruments Price Target at $42.00 (VECO)
Research analysts at UBS AG (NYSE: UBS) upped their target price on shares of Veeco Instruments (NASDAQ: VECO) from $36.00 to $42.00 in a report released on Tuesday. The firm currently has a “buy” rating on the stock.
Shares of Veeco Instruments opened at 34.82 on Tuesday. 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 $1.350 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 $0.30 earnings per share next quarter.
A number of other firms have also recently commented on VECO. Analysts at Needham & Company reiterated a “hold” rating on shares of Veeco Instruments in a research note to investors on Tuesday. Separately, analysts at Canaccord Genuity reiterated a “sell” rating on shares of Veeco Instruments in a research note to investors on Tuesday. Finally, analysts at Sterne Agee raised their price target on shares of Veeco Instruments to $32.00 in a research note to investors on Tuesday. They now have a “neutral” rating on the stock.
Veeco Instruments Inc. designs, manufactures and markets equipment to make light emitting diodes (LEDs), solar cells, hard-disk drives and other devices.