The stock of Veeco Instruments Inc. (NASDAQ:VECO) is a huge mover today! About 176,122 shares traded hands. Veeco Instruments Inc. (NASDAQ:VECO) has risen 5.66% since March 2, 2016 and is uptrending. It has underperformed by 2.60% the S&P500.
The move comes after 9 months positive chart setup for the $845.54M company. It was reported on Oct, 5 by Barchart.com. We have $29.08 PT which if reached, will make NASDAQ:VECO worth $338.22 million more.
Analysts await Veeco Instruments Inc. (NASDAQ:VECO) to report earnings on October, 26. They expect $-0.31 earnings per share, down 247.62% or $0.52 from last year’s $0.21 per share. After $-0.29 actual earnings per share reported by Veeco Instruments Inc. for the previous quarter, Wall Street now forecasts 6.90% negative EPS growth.
Veeco Instruments Inc. (NASDAQ:VECO) Ratings Coverage
Out of 8 analysts covering Veeco Instruments (NASDAQ:VECO), 4 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 50% are positive. Veeco Instruments has been the topic of 15 analyst reports since August 5, 2015 according to StockzIntelligence Inc. As per Thursday, October 29, the company rating was maintained by Benchmark. On Monday, April 4 the stock rating was upgraded by Summit Research to “Hold”. Deutsche Bank maintained Veeco Instruments Inc. (NASDAQ:VECO) on Wednesday, October 14 with “Hold” rating. Benchmark maintained it with “Buy” rating and $23 target price in Monday, September 12 report. Pacific Crest initiated Veeco Instruments Inc. (NASDAQ:VECO) on Friday, May 13 with “Overweight” rating. On Tuesday, August 2 the stock rating was upgraded by Deutsche Bank to “Buy”. As per Friday, December 11, the company rating was upgraded by Summit Research. JP Morgan downgraded the stock to “Neutral” rating in Thursday, October 29 report.
According to Zacks Investment Research, “VEECO INSTRUMENTS INC. (DE) designs, manufactures, markets and services a broad line of precision beam etching and surface measurement systems used in the manufacture of microelectronic products. It sells its products worldwide to many of the leading semiconductor and data storage manufacturers. In addition, it sells its products to companies in the flat panel display and high frequency device industries, as well as to other industries, research and development centers and universities.”
Insitutional Activity: The institutional sentiment decreased to 1.09 in Q2 2016. Its down 0.47, from 1.56 in 2016Q1. The ratio is negative, as 16 funds sold all Veeco Instruments Inc. shares owned while 40 reduced positions. 11 funds bought stakes while 50 increased positions. They now own 38.19 million shares or 0.68% more from 37.93 million shares in 2016Q1.
Creative Planning has 950 shares for 0% of their US portfolio. Sei Invests Co has 3,012 shares for 0% of their US portfolio. Comerica Comml Bank has invested 0.01% of its portfolio in Veeco Instruments Inc. (NASDAQ:VECO). Penn Capital Mgmt owns 418,771 shares or 0.39% of their US portfolio. Teachers Advisors, a New York-based fund reported 62,359 shares. Manufacturers Life Insurance The accumulated 0% or 27,102 shares. Pinnacle Advisory last reported 259,927 shares in the company. Moreover, Amer Incorporated has 0% invested in Veeco Instruments Inc. (NASDAQ:VECO) for 29,606 shares. Paradigm Asset Management Lc reported 900 shares or 0% of all its holdings. Ubs Asset Americas Inc has 0% invested in the company for 15,599 shares. Moreover, Cornerstone Capital Mgmt Hldgs Ltd Limited Liability Company has 0% invested in Veeco Instruments Inc. (NASDAQ:VECO) for 2,800 shares. Quantitative Systematic Strategies Limited Liability Co reported 11,553 shares or 0.09% of all its holdings. Sessa Cap Im Ltd Partnership last reported 150,000 shares in the company. Dimensional Fund Limited Partnership, a Texas-based fund reported 1.89 million shares. Moreover, Ls Investment Advsrs Limited Liability Corp has 0% invested in Veeco Instruments Inc. (NASDAQ:VECO) for 1,352 shares.
More notable recent Veeco Instruments Inc. (NASDAQ:VECO) news were published by: Streetinsider.com which released: “Form 8-K VEECO INSTRUMENTS INC For: Sep 30” on October 05, 2016, also Fool.com with their article: “Veeco Instruments, Inc. Stock Jumps on Second-Quarter Results” published on August 02, 2016, Fool.com published: “Why Veeco Instruments Inc. Stock Slid on Tuesday” on February 23, 2016. More interesting news about Veeco Instruments Inc. (NASDAQ:VECO) were released by: Fool.com and their article: “Veeco Instruments Inc. Tumbles on Weak Outlook” published on October 29, 2015 as well as Fool.com‘s news article titled: “Why Veeco Instruments Inc. Stock Has Been on a Roller Coaster” with publication date: November 11, 2015.
VECO Company Profile
Veeco Instruments Inc., incorporated on August 8, 1989, designs, makes, markets and supports thin film equipment. The Company’s equipment is used to make electronic devices, including light emitting diodes (LED), micro-electromechanical systems (MEMS), wireless devices, power electronics, hard disk drives (HDDs) and semiconductors. The Firm operates in four geographic regions: United States; China; Europe, the Middle East and Africa, and the Rest of World.
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