Needham & Company Maintains a 'Hold' on Veeco Instruments (VECO); In-line Results, But Sounded Like More Caution Ahead

Needham & Company maintains a 'Hold' on Veeco Instruments Inc. (NASDAQ: VECO).

Analyst, Y. Edwin Mok, said, "VECO reported mixed 2Q12 results and provided inline guidance. However, commentaries are incrementally more cautious as compared to last quarter, as VECO now expects a gradual improvement of orders going into 2H12. The tightened guidance range also suggests little-to-no growth in 2H12. We continue to be impressed by VECO’s strong execution in this downturn, its share gains in MOCVD, and its ability to maintain good profitability. For now, we are maintaining our rating until we see clear signs of substantial recovery in the MOCVD sector."

For an analyst ratings summary and ratings history on Veeco Instruments Inc. click here. For more ratings news on Veeco Instruments Inc. click here.

Shares of Veeco Instruments Inc. closed at $33.74 yesterday.

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