Brokerages Set Veeco Instruments Inc. (NASDAQ:VECO) Target Price at $45.57

by · The Cerbat Gem

Shares of Veeco Instruments Inc. (NASDAQ:VECO – Get Free Report) have been given a consensus recommendation of “Moderate Buy” by the seven analysts that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $45.57.

Several analysts recently weighed in on VECO shares. The Goldman Sachs Group dropped their price objective on Veeco Instruments from $39.00 to $35.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Oppenheimer increased their target price on shares of Veeco Instruments from $45.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, June 27th. Benchmark reaffirmed a “buy” rating and set a $42.00 price target on shares of Veeco Instruments in a report on Wednesday, August 7th. StockNews.com downgraded shares of Veeco Instruments from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Northland Securities cut their price objective on shares of Veeco Instruments from $53.00 to $47.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th.

View Our Latest Report on VECO

Insider Activity at Veeco Instruments

In other Veeco Instruments news, CFO John P. Kiernan sold 2,500 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $29.04, for a total value of $72,600.00. Following the sale, the chief financial officer now directly owns 85,142 shares in the company, valued at $2,472,523.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Veeco Instruments

A number of institutional investors have recently added to or reduced their stakes in VECO. GAMMA Investing LLC boosted its position in shares of Veeco Instruments by 237.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,677 shares of the semiconductor company’s stock valued at $78,000 after acquiring an additional 1,180 shares during the last quarter. Montag A & Associates Inc. bought a new stake in Veeco Instruments during the first quarter valued at approximately $99,000. nVerses Capital LLC grew its stake in Veeco Instruments by 733.3% in the 2nd quarter. nVerses Capital LLC now owns 2,500 shares of the semiconductor company’s stock worth $117,000 after buying an additional 2,200 shares in the last quarter. Ausbil Investment Management Ltd bought a new position in shares of Veeco Instruments in the 2nd quarter worth $200,000. Finally, Foundry Partners LLC bought a new position in shares of Veeco Instruments in the 1st quarter worth $203,000. 98.46% of the stock is currently owned by institutional investors.

Veeco Instruments Trading Up 1.6 %

Shares of Veeco Instruments stock opened at $32.82 on Friday. The firm’s 50-day moving average price is $34.28 and its two-hundred day moving average price is $38.22. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of -72.93 and a beta of 1.16. The company has a quick ratio of 2.32, a current ratio of 3.52 and a debt-to-equity ratio of 0.35. Veeco Instruments has a 12-month low of $23.63 and a 12-month high of $49.25.

Veeco Instruments (NASDAQ:VECO – Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). Veeco Instruments had a net margin of 11.83% and a return on equity of 12.03%. The firm had revenue of $175.88 million during the quarter, compared to the consensus estimate of $176.03 million. During the same period last year, the business earned $0.21 earnings per share. The business’s revenue was up 8.8% compared to the same quarter last year. On average, analysts forecast that Veeco Instruments will post 1.2 earnings per share for the current fiscal year.

About Veeco Instruments

(Get Free Report

Veeco Instruments Inc, together with its subsidiaries, develops, manufactures, sells, and supports semiconductor and thin film process equipment primarily to make electronic devices in the United States, Europe, the Middle East, and Africa, China, Rest of the Asia-Pacific, and internationally. The company offers laser annealing, ion beam deposition and etch, metal organic chemical vapor deposition, single wafer wet processing and surface preparation, molecular beam epitaxy, advanced packaging lithography, atomic layer deposition, and other deposition systems.

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