Needham & Company Reaffirms Hold Rating on Veeco Instruments (VECO)

By admin | 6 years ago

Veeco Instruments (NASDAQ: VECO)‘s stock had its “hold” rating restated by equities researchers at Needham & Company in a report issued on Tuesday.

Shares of Veeco Instruments traded up 2.11% during mid-day trading on Tuesday, hitting $35.555. 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 $1.378 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 Canaccord Genuity reiterated a “sell” rating on shares of Veeco Instruments in a research note to investors on Tuesday. Separately, 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. Finally, analysts at Credit Agricole upgraded shares of Veeco Instruments from a “sell” rating to an “underperform” rating 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.

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