Veeco Instruments (NASDAQ:VECO) Reaches New 52-Week High at $24.07

Veeco Instruments Inc. (NASDAQ:VECO – Get Rating) shares reached a new 52-week high on Friday . The company traded as high as $24.07 and last traded at $24.04, with a volume of 143617 shares changing hands. The stock had previously closed at $23.30.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Benchmark lifted their price objective on shares of Veeco Instruments from $26.00 to $28.00 in a research note on Tuesday, May 9th. Northland Securities lifted their price objective on shares of Veeco Instruments from $30.00 to $32.00 in a research note on Tuesday, May 9th. Finally, StockNews.com assumed coverage on shares of Veeco Instruments in a research note on Thursday, May 18th. They issued a “buy” rating for the company. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $24.60.

Veeco Instruments Stock Up 4.3 %

The firm has a market cap of $1.26 billion, a P/E ratio of 8.89 and a beta of 1.27. The stock’s 50 day simple moving average is $20.25 and its 200 day simple moving average is $20.03. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.56 and a current ratio of 2.41.

Hedge Funds Weigh In On Veeco Instruments

Hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its holdings in Veeco Instruments by 470.9% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,570 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 1,295 shares during the last quarter. US Bancorp DE boosted its holdings in Veeco Instruments by 1,463.5% during the 3rd quarter. US Bancorp DE now owns 1,626 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 1,522 shares during the last quarter. Captrust Financial Advisors boosted its holdings in Veeco Instruments by 125.0% during the 1st quarter. Captrust Financial Advisors now owns 2,115 shares of the semiconductor company’s stock worth $58,000 after acquiring an additional 1,175 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Veeco Instruments during the 1st quarter worth $47,000. Finally, Quadrant Capital Group LLC boosted its holdings in Veeco Instruments by 146.0% during the 3rd quarter. Quadrant Capital Group LLC now owns 2,438 shares of the semiconductor company’s stock worth $45,000 after acquiring an additional 1,447 shares during the last quarter.

About Veeco Instruments

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Veeco Instruments, Inc engages in the development, manufacture, sale and support of semiconductor process equipment. Its technologies consists of metal organic chemical vapor deposition, advanced packaging lithography, wet etch and clean, laser annealing, ion beam, molecular beam epitaxy, wafer inspection, and atomic layer deposition systems.