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 2.2%. By the end of trading, Veeco Instruments rose 18 cents (0.5%) to $34.49 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 $34.30-$35.70 after having opened the day at $34.46 as compared to the previous trading day's close of $34.31. Other companies within the Electronics industry that increased today were: Enova Systems ( ENA), up 18.7%, Superconductor Technologies ( SCON), up 10.9%, SunPower Corporation ( SPWR), up 10%, and First Solar ( FSLR), up 6.7%.

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 $1.4 billion and is part of the technology sector. The company has a P/E ratio of 9.8, below the average electronics industry P/E ratio of 15.6 and below the S&P 500 P/E ratio of 17.7. Shares are up 73.6% year to date as of the close of trading on Wednesday. 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 disappointing return on equity.

On the negative front, MEMC Electronic Materials ( WFR), down 22.1%, GT Advanced Technologies ( GTAT), down 15.6%, JA Solar Holdings Co. ADR ( JASO), down 15.3%, and Yingli Green Energy Holding Company ( YGE), down 13%, were all losers within the electronics industry with Broadcom Corporation ( BRCM) being today's electronics industry loser.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the electronics industry could consider iShares Dow Jones US Technology ( IYW) while those bearish on the electronics industry could consider ProShares Ultra Short Semiconductor ( SSG).

null

More from Markets

Comcast's Brian Roberts vs. Disney's Bob Iger: Which Titan Will Nab Fox?

Comcast's Brian Roberts vs. Disney's Bob Iger: Which Titan Will Nab Fox?

Dow Set to Snap 8-Day Losing Streak as Stocks Recover, But Trade War Lingers

Dow Set to Snap 8-Day Losing Streak as Stocks Recover, But Trade War Lingers

OPEC, Bank Stress Tests, Disney and Tesla - 5 Things You Must Know

OPEC, Bank Stress Tests, Disney and Tesla - 5 Things You Must Know

Big Banks Pass the Stress Tests and 4 Other Stories to Watch Friday Morning

Big Banks Pass the Stress Tests and 4 Other Stories to Watch Friday Morning

OPEC Debating 1 Million Barrel Oil Market Boost as Iran Signals Support

OPEC Debating 1 Million Barrel Oil Market Boost as Iran Signals Support