StockNews.com Downgrades Veeco Instruments (NASDAQ:VECO) to Sell

Veeco Instruments (NASDAQ:VECO) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Friday.

A number of other research analysts also recently weighed in on the stock. Benchmark cut their price target on shares of Veeco Instruments from $38.00 to $31.00 and set a “buy” rating on the stock in a report on Thursday. Barclays cut their price target on shares of Veeco Instruments from $30.00 to $25.00 and set an “equal weight” rating on the stock in a report on Thursday. Needham & Company LLC cut their price target on shares of Veeco Instruments from $35.00 to $29.00 and set a “buy” rating on the stock in a report on Thursday. The Goldman Sachs Group cut their price target on shares of Veeco Instruments from $35.00 to $30.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Finally, Citigroup cut their price target on shares of Veeco Instruments from $33.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Veeco Instruments has an average rating of “Moderate Buy” and a consensus target price of $32.43.

Veeco Instruments Stock Up 1.6 %

VECO stock opened at $24.67 on Friday. Veeco Instruments has a 12-month low of $23.00 and a 12-month high of $49.25. The company has a quick ratio of 2.41, a current ratio of 3.54 and a debt-to-equity ratio of 0.33. The company has a market cap of $1.40 billion, a price-to-earnings ratio of 18.27 and a beta of 1.13. The company has a 50 day moving average of $26.60 and a two-hundred day moving average of $29.92.

Veeco Instruments (NASDAQ:VECO) last released its earnings results on Wednesday, February 12th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.14). Veeco Instruments had a return on equity of 10.92% and a net margin of 11.34%. On average, equities analysts anticipate that Veeco Instruments will post 1.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO John P. Kiernan sold 2,500 shares of Veeco Instruments stock in a transaction on Monday, February 10th. The shares were sold at an average price of $24.51, for a total value of $61,275.00. Following the transaction, the chief financial officer now owns 72,642 shares in the company, valued at $1,780,455.42. This trade represents a 3.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.40% of the company’s stock.

Institutional Trading of Veeco Instruments

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. US Bancorp DE grew its position in Veeco Instruments by 14.8% in the 3rd quarter. US Bancorp DE now owns 3,864 shares of the semiconductor company’s stock worth $128,000 after purchasing an additional 498 shares during the last quarter. KBC Group NV boosted its position in shares of Veeco Instruments by 46.8% during the 3rd quarter. KBC Group NV now owns 2,088 shares of the semiconductor company’s stock valued at $69,000 after acquiring an additional 666 shares in the last quarter. Signaturefd LLC boosted its position in shares of Veeco Instruments by 130.6% during the 3rd quarter. Signaturefd LLC now owns 1,328 shares of the semiconductor company’s stock valued at $44,000 after acquiring an additional 752 shares in the last quarter. Sheaff Brock Investment Advisors LLC boosted its position in shares of Veeco Instruments by 11.0% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 9,099 shares of the semiconductor company’s stock valued at $301,000 after acquiring an additional 901 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in shares of Veeco Instruments by 257.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,276 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 919 shares in the last quarter. 98.46% of the stock is currently owned by institutional investors and hedge funds.

Veeco Instruments Company Profile

Veeco Instruments Inc, together with its subsidiaries, develops, manufactures, sells, and supports semiconductor and thin film process equipment primarily to make electronic devices in the United States, Europe, the Middle East, and Africa, China, Rest of the Asia-Pacific, and internationally. The company offers laser annealing, ion beam deposition and etch, metal organic chemical vapor deposition, single wafer wet processing and surface preparation, molecular beam epitaxy, advanced packaging lithography, atomic layer deposition, and other deposition systems.