Veeco Instruments (VECO) – Research Analysts’ Weekly Ratings Changes

Posted by Doug Madison on Nov 25th, 2024

A number of research firms have changed their ratings and price targets for Veeco Instruments (NASDAQ: VECO):

11/11/2024 – Veeco Instruments was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
11/7/2024 – Veeco Instruments had its price target lowered by analysts at Oppenheimer Holdings Inc. from $45.00 to $40.00. They now have an “outperform” rating on the stock.
11/7/2024 – Veeco Instruments had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $35.00 to $30.00. They now have a “neutral” rating on the stock.
11/7/2024 – Veeco Instruments had its price target lowered by analysts at Benchmark Co. from $42.00 to $38.00. They now have a “buy” rating on the stock.
10/31/2024 – Veeco Instruments was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
10/23/2024 – Veeco Instruments was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
10/15/2024 – Veeco Instruments was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
10/2/2024 – Veeco Instruments was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.

Veeco Instruments Stock Performance

Shares of VECO stock traded up $0.56 during trading hours on Monday, reaching $27.96. 239,076 shares of the company traded hands, compared to its average volume of 658,401. Veeco Instruments Inc. has a 12-month low of $25.52 and a 12-month high of $49.25. The company has a market cap of $1.59 billion, a P/E ratio of 20.71 and a beta of 1.17. The firm has a 50-day moving average price of $30.25 and a 200 day moving average price of $36.83. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.54 and a quick ratio of 2.41.

Veeco Instruments (NASDAQ:VECO – Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. The business had revenue of $184.80 million for 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 quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the firm earned $0.41 earnings per share. As a group, sell-side analysts predict that Veeco Instruments Inc. will post 1.12 earnings per share for the current fiscal year.

Insider Transactions at Veeco Instruments

In other Veeco Instruments news, CFO John P. Kiernan sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $29.04, for a total transaction of $72,600.00. Following the sale, the chief financial officer now directly owns 85,142 shares of the company’s stock, valued at $2,472,523.68. The trade was a 2.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders have sold 7,500 shares of company stock valued at $225,850. 2.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. EFG Asset Management North America Corp. boosted its position in shares of Veeco Instruments by 0.5% during the second quarter. EFG Asset Management North America Corp. now owns 67,588 shares of the semiconductor company’s stock valued at $3,156,000 after buying an additional 319 shares during the period. US Bancorp DE boosted its holdings in shares of Veeco Instruments by 14.8% in the third quarter. US Bancorp DE now owns 3,864 shares of the semiconductor company’s stock valued at $128,000 after purchasing an additional 498 shares during the period. Louisiana State Employees Retirement System boosted its holdings in shares of Veeco Instruments by 2.2% in the second quarter. Louisiana State Employees Retirement System now owns 28,500 shares of the semiconductor company’s stock valued at $1,331,000 after purchasing an additional 600 shares during the period. 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 purchasing an additional 666 shares during the period. Finally, Signaturefd LLC boosted its holdings in shares of Veeco Instruments by 130.6% in the third quarter. Signaturefd LLC now owns 1,328 shares of the semiconductor company’s stock valued at $44,000 after purchasing an additional 752 shares during the period. Hedge funds and other institutional investors own 98.46% of the company’s stock.

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.