Zacks cut shares of Veeco Instruments (NASDAQ:VECO) from a neutral rating to an underperform rating in a research note issued to investors on Tuesday, American Banking & Market News reports. The firm currently has $30.70 price target on the stock.
Zacks has also modified their ratings on a number of other information technology stocks in the few days. The firm downgraded shares of Micron Technology Inc. from an outperform rating to a neutral rating. Their analysts now have a $20.20 price target on that stock. Also, Zacks downgraded shares of Freescale Semiconductor Ltd from an outperform rating to a neutral rating. Their analysts now have a $19.20 price target on that stock. Finally, Zacks reiterated its neutral rating on shares of Analog Devices Inc.. They have a $52.00 price target on that stock.
A number of other analysts have also recently weighed in on VECO. Analysts at Goldman Sachs Group Inc. reiterated a sell rating on shares of Veeco Instruments in a research note to investors on Tuesday. They now have a $24.00 price target on the stock. Separately, analysts at Oppenheimer downgraded shares of Veeco Instruments from an outperform rating to a market perform rating in a research note to investors on Tuesday, October 15th. They now have a $42.00 price target on the stock. Finally, analysts at Wedbush reiterated a neutral rating on shares of Veeco Instruments in a research note to investors on Friday, September 20th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $34.20.
Shares of Veeco Instruments (NASDAQ:VECO) opened at 31.98 on Tuesday. Veeco Instruments has a 52-week low of $26.15 and a 52-week high of $43.18. The stock’s 50-day moving average is $34.56 and its 200-day moving average is $35.88. The company has a market cap of $1.234 billion and a P/E ratio of 20.04.
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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