Veeco Instruments Inc (VECO): Today's Featured Electronics Winner
Veeco Instruments (VECO) pushed the Electronics industry higher today making it today's featured electronics winner. The industry as a whole closed the day down 1.3%. By the end of trading, Veeco Instruments rose 35 cents (1%) to $34.77 on average volume. Throughout the day, 1.2 million shares of Veeco Instruments exchanged hands as compared to its average daily volume of 1.3 million shares. The stock ranged in a price between $34.15-$35.11 after having opened the day at $34.69 as compared to the previous trading day's close of $34.42. Other companies within the Electronics industry that increased today were: Hoku (HOKU), up 59.2%, Nortech Systems Incorporated (NSYS), up 29.1%, SL Industries (SLI), up 15.8%, and Aehr Test Systems (AEHR), up 14.5%. Veeco Instruments Inc., together with its subsidiaries, designs, manufactures, and markets various equipments to make light emitting diodes (LEDs) and hard-disk drives worldwide. Veeco Instruments has a market cap of $1.29 billion and is part of the technology sector. The company has a P/E ratio of nine, below the average electronics industry P/E ratio of 14.4 and below the S&P 500 P/E ratio of 17.7. Shares are up 60.1% year to date as of the close of trading on Tuesday. Currently there are seven analysts that rate Veeco Instruments a buy, three analysts rate it a sell, and eight rate it a hold. TheStreet Ratings rates Veeco Instruments as a hold. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and weak operating cash flow.
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