Veeco Instruments (NASDAQ:VECO) PT Raised to $35.00

Veeco Instruments (NASDAQ:VECO - Free Report) had its price target upped by Barclays from $33.00 to $35.00 in a research note released on Wednesday, Benzinga reports. Barclays currently has an equal weight rating on the semiconductor company's stock.

A number of other analysts have also recently weighed in on VECO. Needham & Company LLC upped their price target on shares of Veeco Instruments from $43.00 to $46.00 and gave the stock a buy rating in a research report on Wednesday. Citigroup raised their target price on Veeco Instruments from $36.00 to $43.00 and gave the company a buy rating in a report on Wednesday, February 21st. The Goldman Sachs Group upped their price target on Veeco Instruments from $31.00 to $35.00 and gave the stock a neutral rating in a report on Thursday, February 15th. Finally, Benchmark lifted their price objective on shares of Veeco Instruments from $34.00 to $40.00 and gave the company a buy rating in a research note on Thursday, February 15th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Veeco Instruments currently has a consensus rating of Moderate Buy and a consensus price target of $38.43.

Veeco Instruments Trading Up 4.8 %

Shares of VECO stock traded up $1.80 on Wednesday, reaching $39.29. 977,900 shares of the stock were exchanged, compared to its average volume of 527,748. Veeco Instruments has a 1-year low of $19.05 and a 1-year high of $40.30. The stock has a market cap of $2.21 billion, a P/E ratio of -61.68 and a beta of 1.18. The company has a quick ratio of 2.15, a current ratio of 3.24 and a debt-to-equity ratio of 0.41. The firm has a 50 day moving average of $35.25 and a two-hundred day moving average of $31.86.

Veeco Instruments (NASDAQ:VECO - Get Free Report) last released its quarterly earnings data on Wednesday, February 14th. The semiconductor company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.09. The business had revenue of $173.92 million for the quarter, compared to analyst estimates of $170.00 million. Veeco Instruments had a positive return on equity of 11.10% and a negative net margin of 4.56%. On average, research analysts anticipate that Veeco Instruments will post 1.39 EPS for the current year.

Insider Activity at Veeco Instruments

In other Veeco Instruments news, CEO William John Miller sold 24,201 shares of the firm's stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $35.30, for a total transaction of $854,295.30. Following the completion of the transaction, the chief executive officer now directly owns 545,091 shares of the company's stock, valued at approximately $19,241,712.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Adrian Devasahayam sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $34.10, for a total value of $170,500.00. Following the completion of the sale, the senior vice president now directly owns 67,278 shares in the company, valued at approximately $2,294,179.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William John Miller sold 24,201 shares of the firm's stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $35.30, for a total value of $854,295.30. Following the transaction, the chief executive officer now owns 545,091 shares in the company, valued at $19,241,712.30. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Veeco Instruments

A number of institutional investors and hedge funds have recently modified their holdings of the business. NBC Securities Inc. bought a new stake in shares of Veeco Instruments during the 3rd quarter valued at about $26,000. Federated Hermes Inc. bought a new position in shares of Veeco Instruments during the third quarter valued at approximately $33,000. Ulland Investment Advisors LLC bought a new position in shares of Veeco Instruments during the first quarter valued at approximately $33,000. Covestor Ltd lifted its holdings in shares of Veeco Instruments by 1,311.0% in the 3rd quarter. Covestor Ltd now owns 1,284 shares of the semiconductor company's stock worth $36,000 after purchasing an additional 1,193 shares during the last quarter. Finally, Montag A & Associates Inc. bought a new position in Veeco Instruments during the 1st quarter worth $99,000. 98.46% of the stock is owned by institutional investors and hedge funds.

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.