Veeco Instruments Inc. (NASDAQ:VECO – Get Free Report) CFO John P. Kiernan sold 2,500 shares of the business’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $32.63, for a total transaction of $81,575.00. Following the completion of the transaction, the chief financial officer now owns 82,642 shares in the company, valued at approximately $2,696,608.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Veeco Instruments Stock Performance
Shares of VECO stock opened at $33.33 on Monday. The company has a current ratio of 3.52, a quick ratio of 2.32 and a debt-to-equity ratio of 0.35. The firm has a fifty day simple moving average of $33.69 and a two-hundred day simple moving average of $38.21. Veeco Instruments Inc. has a 12 month low of $23.63 and a 12 month high of $49.25. The firm has a market capitalization of $1.89 billion, a PE ratio of -74.07 and a beta of 1.16.
Veeco Instruments (NASDAQ:VECO – Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). Veeco Instruments had a net margin of 11.83% and a return on equity of 12.03%. The business had revenue of $175.88 million for the quarter, compared to analyst estimates of $176.03 million. During the same quarter in the prior year, the business earned $0.21 earnings per share. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. Analysts forecast that Veeco Instruments Inc. will post 1.2 EPS for the current fiscal year.
Institutional Inflows and Outflows
Analysts Set New Price Targets
A number of brokerages have recently issued reports on VECO. Oppenheimer boosted their price objective on Veeco Instruments from $45.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, June 27th. Benchmark reissued a “buy” rating and issued a $42.00 price target on shares of Veeco Instruments in a research note on Wednesday, August 7th. The Goldman Sachs Group reduced their price objective on shares of Veeco Instruments from $39.00 to $35.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Northland Securities cut their target price on shares of Veeco Instruments from $53.00 to $47.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Finally, StockNews.com cut shares of Veeco Instruments from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Veeco Instruments has a consensus rating of “Hold” and an average target price of $45.57.
Read Our Latest Research Report on Veeco Instruments
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.
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