Analysts at BNP Paribas (EPA: BNP) started coverage on shares of Veeco Instruments (NASDAQ: VECO) in a research report issued to clients and investors on Tuesday. They set a “neutral” rating on the stock.
Separately, analysts at Kaufman Brothers downgraded shares of Veeco Instruments from a “buy” rating to a “hold” rating in a research note to investors on Tuesday, January 24th. They now have a $25.00 price target on the stock, down previously from $34.00. Analysts at Zacks Investment Research upgraded shares of Veeco Instruments from an “underperform” rating to an “outperform” rating in a research note to investors on Wednesday, December 28th. Also, analysts at Needham & Company initiated coverage on shares of Veeco Instruments in a research note to investors on Wednesday, December 21st. They set a “hold” rating on the stock.
Veeco Instruments Inc. designs, manufactures and markets equipment to make light emitting diodes (LEDs), solar panels, hard-disk drives and other devices. The Company operates in two segments: Light Emitting Diode (LED) and Solar, and Data Storage. In the LED & Solar segment, it designs and manufactures metal organic chemical vapor deposition (MOCVD) systems, molecular beam epitaxy (MBE) systems, Copper, Indium, Gallium, Selenide (CIGS) deposition systems and thermal deposition sources that it sells to manufacturers of high brightness LEDs (HB LED) and solar panels, as well as to research customers. In the Data Storage segment, it designs and manufactures ion beam etch, ion beam deposition, diamond-like carbon, physical vapor deposition, chemical vapor deposition, and dicing and slicing systems that are primarily used to create thin film magnetic heads (TFMHs) that read and write data on hard disk drives. It sold its metrology business to Bruker Corporation on October 7, 2010.
Shares of Veeco Instruments traded down 0.74% during mid-day trading on Tuesday, hitting $24.07. Veeco Instruments has a one year low of $20.35 and a one year high of $57.67. The stock’s 50-day moving average is $22.84 and its 200-day moving average is $28.6. The company has a market cap of $931.9 million and a P/E ratio of 3.37.