Veeco Instruments Inc. (NASDAQ:VECO) Receives $45.57 Consensus PT from Brokerages

Shares of Veeco Instruments Inc. (NASDAQ:VECO) have earned a consensus rating of “Moderate Buy” from the seven brokerages that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $45.57.

Several analysts have issued reports on the stock. Northland Securities cut their price target on shares of Veeco Instruments from $53.00 to $47.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. The Goldman Sachs Group reduced their price target on Veeco Instruments from $39.00 to $35.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Benchmark reiterated a “buy” rating and issued a $42.00 price objective on shares of Veeco Instruments in a research report on Wednesday, August 7th. Needham & Company LLC restated a “buy” rating and issued a $55.00 target price on shares of Veeco Instruments in a report on Wednesday, August 7th. Finally, Oppenheimer upped their price target on shares of Veeco Instruments from $45.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, June 27th.

Insider Buying and Selling at Veeco Instruments

In other news, CFO John P. Kiernan sold 2,500 shares of the stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $48.46, for a total value of $121,150.00. Following the completion of the transaction, the chief financial officer now owns 94,809 shares of the company’s stock, valued at approximately $4,594,444.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.40% of the company’s stock.

Institutional Trading of Veeco Instruments

Institutional investors have recently bought and sold shares of the company. Ulland Investment Advisors LLC purchased a new position in Veeco Instruments in the first quarter worth about $33,000. GAMMA Investing LLC raised its holdings in Veeco Instruments by 237.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,677 shares of the semiconductor company’s stock worth $78,000 after acquiring an additional 1,180 shares during the last quarter. nVerses Capital LLC lifted its position in Veeco Instruments by 733.3% in the 2nd quarter. nVerses Capital LLC now owns 2,500 shares of the semiconductor company’s stock valued at $117,000 after acquiring an additional 2,200 shares in the last quarter. Montag A & Associates Inc. purchased a new stake in Veeco Instruments during the 1st quarter valued at $99,000. Finally, Ausbil Investment Management Ltd purchased a new stake in Veeco Instruments during the 2nd quarter valued at $200,000. 98.46% of the stock is owned by hedge funds and other institutional investors.

Veeco Instruments Price Performance

VECO stock opened at $29.67 on Wednesday. The firm has a 50 day simple moving average of $39.59 and a two-hundred day simple moving average of $38.80. Veeco Instruments has a one year low of $23.63 and a one year high of $49.25. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.52 and a quick ratio of 2.32. The stock has a market cap of $1.68 billion, a PE ratio of -65.93 and a beta of 1.17.

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

Veeco Instruments Company Profile

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.