Veeco Instruments (NASDAQ:VECO) Hits New 1-Year High at $47.25

Veeco Instruments Inc. (NASDAQ:VECOGet Free Report)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $47.25 and last traded at $46.93, with a volume of 22596 shares trading hands. The stock had previously closed at $47.18.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Oppenheimer reiterated an “outperform” rating and issued a $45.00 target price (up from $40.00) on shares of Veeco Instruments in a report on Wednesday, May 15th. Barclays lifted their price target on Veeco Instruments from $33.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 8th. Needham & Company LLC lifted their price target on Veeco Instruments from $43.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Citigroup lifted their price target on Veeco Instruments from $36.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Finally, The Goldman Sachs Group lifted their price target on Veeco Instruments from $35.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Veeco Instruments presently has an average rating of “Moderate Buy” and a consensus target price of $40.71.

Check Out Our Latest Stock Report on Veeco Instruments

Veeco Instruments Price Performance

The stock has a market cap of $2.67 billion, a price-to-earnings ratio of -104.58 and a beta of 1.20. The company has a 50-day moving average of $38.98 and a 200-day moving average of $34.87. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.02 and a current ratio of 3.05.

Veeco Instruments (NASDAQ:VECOGet Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The semiconductor company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.01. The firm had revenue of $174.48 million for the quarter, compared to analysts’ expectations of $170.00 million. Veeco Instruments had a positive return on equity of 11.97% and a negative net margin of 2.51%. As a group, equities research analysts predict that Veeco Instruments Inc. will post 1.29 earnings per share for the current year.

Insider Buying and Selling at Veeco Instruments

In other Veeco Instruments news, CFO John P. Kiernan sold 2,500 shares of Veeco Instruments stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $43.39, for a total value of $108,475.00. Following the sale, the chief financial officer now owns 2,167 shares of the company’s stock, valued at approximately $94,026.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Veeco Instruments news, CFO John P. Kiernan sold 2,500 shares of Veeco Instruments stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $43.39, for a total value of $108,475.00. Following the sale, the chief financial officer now owns 2,167 shares of the company’s stock, valued at approximately $94,026.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dennis Thomas St sold 4,000 shares of Veeco Instruments stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $37.72, for a total value of $150,880.00. Following the completion of the sale, the director now directly owns 51,861 shares in the company, valued at approximately $1,956,196.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,701 shares of company stock valued at $2,259,350. 2.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Veeco Instruments

Several institutional investors have recently modified their holdings of VECO. Vanguard Group Inc. boosted its stake in shares of Veeco Instruments by 7.2% during the 3rd quarter. Vanguard Group Inc. now owns 6,690,121 shares of the semiconductor company’s stock worth $188,059,000 after acquiring an additional 450,685 shares in the last quarter. Blue Grotto Capital LLC purchased a new stake in shares of Veeco Instruments during the 4th quarter worth approximately $11,476,000. The Manufacturers Life Insurance Company boosted its stake in shares of Veeco Instruments by 24.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,569,885 shares of the semiconductor company’s stock worth $44,129,000 after acquiring an additional 310,390 shares in the last quarter. Phocas Financial Corp. purchased a new stake in shares of Veeco Instruments during the 4th quarter worth approximately $3,599,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Veeco Instruments by 132.1% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 195,000 shares of the semiconductor company’s stock worth $6,858,000 after acquiring an additional 111,000 shares in the last quarter. Hedge funds and other institutional investors own 98.46% of the company’s stock.

Veeco Instruments Company Profile

(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.

Featured Articles

Receive News & Ratings for Veeco Instruments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veeco Instruments and related companies with MarketBeat.com's FREE daily email newsletter.