Citigroup Raises Veeco Instruments (NASDAQ:VECO) Price Target to $60.00

Key Points

• Citigroup raised its price target on Veeco from $40 to $60 and kept a "buy" rating, though that target is about a 2.95% downside from the prior close; the MarketBeat consensus remains a "Hold" with a $31.50 target.
• Shares jumped to $61.82 on heavy volume after the quarter, even though Q1 missed estimates (non‑GAAP EPS $0.14 vs. $0.20 and revenue $158.3M vs. $160.1M) and revenue declined ~5% year‑over‑year.
• Management affirmed FY2026 guidance of $1.50–$1.85 EPS and the company announced more than $250 million in equipment orders for indium phosphide lasers, providing a potential near‑term revenue catalyst.

Veeco Instruments (NASDAQ:VECO - Get Free Report) had its target price lifted by equities researchers at Citigroup from $40.00 to $60.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the semiconductor company's stock. Citigroup's target price points to a potential downside of 2.95% from the company's previous close.

VECO has been the topic of a number of other research reports. Zacks Research lowered Veeco Instruments from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. Weiss Ratings reissued a "hold (c)" rating on shares of Veeco Instruments in a research note on Wednesday, January 21st. Finally, Needham & Company LLC reissued a "hold" rating on shares of Veeco Instruments in a research note on Thursday, February 26th. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $31.50.

Veeco Instruments Price Performance

Shares of NASDAQ:VECO traded up $12.28 during trading on Wednesday, reaching $61.82. The stock had a trading volume of 4,878,094 shares, compared to its average volume of 1,113,663. The company has a debt-to-equity ratio of 0.26, a quick ratio of 3.20 and a current ratio of 4.75. The business has a fifty day moving average price of $37.03 and a 200-day moving average price of $32.79. The stock has a market cap of $3.73 billion, a PE ratio of 104.57 and a beta of 1.36. Veeco Instruments has a 1-year low of $18.31 and a 1-year high of $65.43.

Veeco Instruments (NASDAQ:VECO - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.06). The firm had revenue of $158.34 million during the quarter, compared to analyst estimates of $160.07 million. Veeco Instruments had a return on equity of 5.04% and a net margin of 5.33%.The business's revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.37 earnings per share. Veeco Instruments has set its Q2 2026 guidance at 0.200-0.320 EPS and its FY 2026 guidance at 1.500-1.850 EPS. On average, equities analysts forecast that Veeco Instruments will post 1.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Veeco Instruments news, CEO William John Miller sold 50,000 shares of Veeco Instruments stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $31.62, for a total value of $1,581,000.00. Following the sale, the chief executive officer owned 414,543 shares in the company, valued at $13,107,849.66. The trade was a 10.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.70% of the company's stock.

Institutional Investors Weigh In On Veeco Instruments

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VECO. Royal Bank of Canada raised its position in Veeco Instruments by 29.6% in the first quarter. Royal Bank of Canada now owns 134,088 shares of the semiconductor company's stock valued at $2,692,000 after purchasing an additional 30,646 shares during the period. AQR Capital Management LLC raised its position in Veeco Instruments by 51.5% in the first quarter. AQR Capital Management LLC now owns 29,785 shares of the semiconductor company's stock valued at $598,000 after purchasing an additional 10,122 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Veeco Instruments by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,043 shares of the semiconductor company's stock valued at $664,000 after purchasing an additional 1,434 shares during the period. Millennium Management LLC raised its position in Veeco Instruments by 148.0% in the first quarter. Millennium Management LLC now owns 474,415 shares of the semiconductor company's stock valued at $9,526,000 after purchasing an additional 283,099 shares during the period. Finally, Woodline Partners LP purchased a new stake in Veeco Instruments in the first quarter valued at $618,000. Hedge funds and other institutional investors own 98.46% of the company's stock.

Trending Headlines about Veeco Instruments

Here are the key news stories impacting Veeco Instruments this week:

• Positive Sentiment: Management affirmed FY2026 guidance with an EPS range whose midpoint sits above consensus (FY EPS guidance 1.50–1.85), signaling stronger full-year profit expectations and offsetting the quarterly miss. Why Veeco Instruments Shares Are Trading Higher By 21%; Here Are 20 Stocks Moving Premarket
• Positive Sentiment: Company announced >$250 million in high‑volume equipment orders for manufacturing indium phosphide lasers (Spector®, Lumina® and wet processing systems) — a tangible revenue pipeline catalyst for coming quarters. Veeco Announces $250 Million in Equipment Orders for Manufacturing Indium Phosphide Lasers
• Neutral Sentiment: Company issued Q2 guidance (EPS 0.20–0.32; revenue $170–190M) and published the Q1 slide deck and earnings release — useful for modeling, but contains mixed signals (guidance range spans below and above consensus). Veeco Q1 Slide Deck / Press Release
• Neutral Sentiment: Full earnings call transcript and presentation are available for details on customer timing and order cadence; useful for investors who want management color on margins and backlog. Veeco Instruments Inc. (VECO) Q1 2026 Earnings Call Transcript
• Negative Sentiment: Q1 results missed: non‑GAAP EPS $0.14 vs. consensus $0.20 and revenue $158.3M vs. $160.1M; revenue fell ~5% YoY and GAAP showed a small net loss — short‑term pressure on margins and near-term growth. Veeco Instruments (VECO) Misses Q1 Earnings and Revenue Estimates
• Negative Sentiment: Q2 EPS midpoint is below some street estimates (guidance range includes upside, but midpoint is mixed), leaving short‑term execution risk and volatility while orders convert to revenue. Veeco Reports First Quarter 2026 Financial Results

About Veeco Instruments

Veeco Instruments Inc NASDAQ: VECO is a leading supplier of process equipment for the semiconductor, data storage, wireless communications, power electronics and advanced packaging industries. The company designs, manufactures and services precision tools used to grow, deposit and etch thin films on substrates, enabling the fabrication of chips, light-emitting diodes (LEDs), micro-electromechanical systems (MEMS) and high-density storage devices. Veeco's platforms are deployed across fabrication facilities worldwide, where they support key processes in materials science and device manufacturing.

Veeco's product portfolio spans molecular beam epitaxy (MBE), metal organic chemical vapor deposition (MOCVD), atomic layer deposition (ALD), ion beam etch and deposition, and high-precision wet and dry etch systems.

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