Veeco Instruments (NASDAQ:VECO) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Veeco Instruments (NASDAQ:VECO – Get Rating) in a research report released on Thursday morning. The firm issued a hold rating on the semiconductor company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Barclays cut shares of Veeco Instruments from an overweight rating to an equal weight rating and lifted their price objective for the company from $19.00 to $20.00 in a research report on Monday, January 23rd. Benchmark reduced their price target on shares of Veeco Instruments from $25.00 to $23.00 and set a buy rating on the stock in a research report on Friday, January 13th. Finally, TheStreet upgraded shares of Veeco Instruments from a c+ rating to a b- rating in a research report on Thursday, December 1st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Veeco Instruments currently has a consensus rating of Hold and an average price target of $21.50.

Veeco Instruments Trading Down 1.9 %

Veeco Instruments stock opened at $20.89 on Thursday. The stock has a market cap of $1.08 billion, a P/E ratio of 7.77 and a beta of 1.29. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.59 and a quick ratio of 1.79. Veeco Instruments has a 1 year low of $16.11 and a 1 year high of $29.54. The firm’s 50 day moving average price is $20.69 and its 200-day moving average price is $19.61.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its position in Veeco Instruments by 2.9% during the third quarter. BlackRock Inc. now owns 8,027,962 shares of the semiconductor company’s stock valued at $147,072,000 after acquiring an additional 224,780 shares during the last quarter. Vanguard Group Inc. increased its position in Veeco Instruments by 3.6% during the third quarter. Vanguard Group Inc. now owns 5,568,846 shares of the semiconductor company’s stock valued at $102,022,000 after acquiring an additional 193,739 shares during the last quarter. Invesco Ltd. increased its position in Veeco Instruments by 22.6% during the first quarter. Invesco Ltd. now owns 5,364,379 shares of the semiconductor company’s stock valued at $145,858,000 after acquiring an additional 988,143 shares during the last quarter. Wasatch Advisors Inc. increased its position in Veeco Instruments by 28.7% during the first quarter. Wasatch Advisors Inc. now owns 3,221,333 shares of the semiconductor company’s stock valued at $87,588,000 after acquiring an additional 718,458 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its position in Veeco Instruments by 10.2% during the third quarter. Neuberger Berman Group LLC now owns 3,209,465 shares of the semiconductor company’s stock valued at $58,868,000 after acquiring an additional 298,185 shares during the last quarter.

Veeco Instruments Company Profile

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Veeco Instruments, Inc engages in the development, manufacture, sale and support of semiconductor process equipment. Its technologies consists of metal organic chemical vapor deposition, advanced packaging lithography, wet etch and clean, laser annealing, ion beam, molecular beam epitaxy, wafer inspection, and atomic layer deposition systems.