Media coverage about Veeco Instruments (NASDAQ:VECO) has trended somewhat positive recently, according to Accern Sentiment Analysis. Accern identifies positive and negative press coverage by reviewing more than 20 million news and blog sources in real-time. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Veeco Instruments earned a media sentiment score of 0.10 on Accern’s scale. Accern also assigned news stories about the semiconductor company an impact score of 45.2291776682678 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
Shares of Veeco Instruments (VECO) traded down $0.05 during trading hours on Friday, hitting $16.50. The company had a trading volume of 714,200 shares, compared to its average volume of 613,653. The company has a market cap of $794.57, a P/E ratio of -16.50 and a beta of 0.78. The company has a current ratio of 2.61, a quick ratio of 2.11 and a debt-to-equity ratio of 0.32. Veeco Instruments has a 52 week low of $10.85 and a 52 week high of $34.38.
Veeco Instruments declared that its board has authorized a stock buyback program on Monday, December 11th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the semiconductor company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
A number of equities analysts recently issued reports on VECO shares. KeyCorp cut shares of Veeco Instruments to a “hold” rating in a research note on Wednesday, October 25th. Benchmark reiterated a “buy” rating and issued a $23.00 price target on shares of Veeco Instruments in a research note on Friday, November 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 price target on shares of Veeco Instruments in a research note on Friday, November 3rd. Zacks Investment Research lowered Veeco Instruments from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. Finally, BidaskClub lowered Veeco Instruments from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 7th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $29.14.
In other Veeco Instruments news, CEO John R. Peeler purchased 36,200 shares of the company’s stock in a transaction on Wednesday, December 13th. The stock was acquired at an average cost of $13.81 per share, for a total transaction of $499,922.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Shubham Maheshwari bought 7,500 shares of the stock in a transaction dated Wednesday, December 13th. The shares were purchased at an average price of $13.74 per share, with a total value of $103,050.00. The disclosure for this purchase can be found here. Insiders acquired a total of 63,700 shares of company stock valued at $877,472 over the last 90 days. 2.90% of the stock is currently owned by corporate insiders.
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Veeco Instruments Company Profile
Veeco Instruments Inc is engaged in the design, development, manufacture and support of thin film process equipment, primarily sold to make electronic devices. The Company’s geographical segments include the United States; China; Europe, Middle East and Africa (EMEA), and Rest of World (ROW). The Company’s portfolio of technology solutions focus on market areas, including Lighting, Display & Power Electronics; Advanced Packaging, micro-electromechanical systems (MEMS) & radio frequency (RF); Scientific & Industrial, and Data Storage.
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