Veeco Instruments (NASDAQ:VECO) was downgraded by Noble Financial to a “sell” rating in a research note issued on Tuesday, Analyst Ratings.Net reports.
Veeco Instruments (NASDAQ:VECO) opened at 30.59 on Tuesday. Veeco Instruments has a 52-week low of $26.15 and a 52-week high of $43.18. The stock has a 50-day moving average of $34.16 and a 200-day moving average of $35.76. The company’s market cap is $1.201 billion.
Veeco Instruments (NASDAQ:VECO) last issued its quarterly earnings data on Monday, November 11th. The company reported ($0.08) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.03) by $0.05. The company had revenue of $99.30 million for the quarter, compared to the consensus estimate of $94.04 million. During the same quarter in the previous year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was down 25.2% on a year-over-year basis. On average, analysts predict that Veeco Instruments will post $-0.08 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Canaccord Genuity initiated coverage on shares of Veeco Instruments in a research note to investors on Tuesday. They set a “sell” rating on the stock. Separately, analysts at Stifel Nicolaus cut their price target on shares of Veeco Instruments from $48.00 to $39.00 in a research note to investors on Wednesday, November 6th. They now have a “buy” rating on the stock. Finally, analysts at Zacks downgraded shares of Veeco Instruments from a “neutral” rating to an “underperform” rating in a research note to investors on Tuesday, November 5th. They now have a $30.70 price target on the stock. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $32.82.
Veeco Instruments Inc (NASDAQ:VECO) designs, manufactures and markets equipment to make light emitting diodes (LEDs), hard-disk drives, as well as for emerging applications such as concentrator photovoltaics, power semiconductors, wireless components, microelectromechanical systems (MEMS), and other next-generation devices.
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