Veeco Instruments Inc. (NASDAQ:VECO) Receives $42.14 Average PT from Analysts

Veeco Instruments Inc. (NASDAQ:VECO) has been given a consensus rating of “Moderate Buy” by the seven brokerages that are covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $42.14.

Several research analysts have recently commented on VECO shares. Oppenheimer reduced their target price on Veeco Instruments from $45.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. The Goldman Sachs Group cut their price target on Veeco Instruments from $35.00 to $30.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. StockNews.com raised shares of Veeco Instruments from a “sell” rating to a “hold” rating in a report on Friday, December 6th. Finally, Benchmark decreased their price target on shares of Veeco Instruments from $42.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th.

Veeco Instruments Stock Down 1.2 %

NASDAQ VECO opened at $27.59 on Friday. Veeco Instruments has a 1-year low of $25.52 and a 1-year high of $49.25. The company has a current ratio of 3.54, a quick ratio of 2.41 and a debt-to-equity ratio of 0.33. The stock’s 50 day moving average is $28.66 and its two-hundred day moving average is $35.27. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of 20.44 and a beta of 1.15.

Veeco Instruments (NASDAQ:VECO) last issued its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. The company had revenue of $184.80 million during the quarter, compared to analysts’ expectations of $180.57 million. Veeco Instruments had a return on equity of 10.92% and a net margin of 11.34%. The business’s revenue was up 4.2% on a year-over-year basis. During the same period last year, the business earned $0.41 earnings per share. Equities analysts forecast that Veeco Instruments will post 1.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Veeco Instruments

In related news, CFO John P. Kiernan sold 2,500 shares of the company’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $32.63, for a total value of $81,575.00. Following the completion of the sale, the chief financial officer now owns 82,642 shares in the company, valued at approximately $2,696,608.46. This represents a 2.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Signaturefd LLC grew its holdings in shares of Veeco Instruments by 130.6% in the 3rd quarter. Signaturefd LLC now owns 1,328 shares of the semiconductor company’s stock valued at $44,000 after buying an additional 752 shares during the period. 272 Capital LP acquired a new stake in Veeco Instruments during the 3rd quarter worth approximately $50,000. KBC Group NV boosted its holdings in shares of Veeco Instruments by 46.8% in the third quarter. KBC Group NV now owns 2,088 shares of the semiconductor company’s stock valued at $69,000 after buying an additional 666 shares during the period. nVerses Capital LLC raised its holdings in shares of Veeco Instruments by 733.3% during the second quarter. nVerses Capital LLC now owns 2,500 shares of the semiconductor company’s stock worth $117,000 after acquiring an additional 2,200 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Veeco Instruments by 116.2% during the 3rd quarter. GAMMA Investing LLC now owns 3,626 shares of the semiconductor company’s stock worth $120,000 after purchasing an additional 1,949 shares in the last quarter. Institutional investors own 98.46% of the company’s stock.

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.