Veeco Instruments (VECO) Receiving Favorable Media Coverage, Report Shows
News articles about Veeco Instruments (NASDAQ:VECO) have been trending positive recently, AlphaOne Sentiment Analysis reports. AlphaOne, a subsidiary of Accern, identifies negative and positive news coverage by monitoring more than twenty million news and blog sources in real-time. AlphaOne ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Veeco Instruments earned a news impact score of 0.32 on AlphaOne’s scale. AlphaOne also assigned media headlines about the semiconductor company an impact score of 48 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
VECO has been the subject of a number of research reports. Zacks Investment Research downgraded Veeco Instruments from a “hold” rating to a “sell” rating in a report on Friday, February 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 target price on shares of Veeco Instruments in a report on Tuesday, February 21st. Bank of America Corp raised Veeco Instruments from a “neutral” rating to a “buy” rating and set a $32.00 target price for the company in a report on Friday, February 10th. Benchmark Co. reaffirmed a “buy” rating and set a $35.00 target price (up previously from $32.50) on shares of Veeco Instruments in a report on Wednesday, March 22nd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $36.00 target price on shares of Veeco Instruments in a report on Sunday, April 23rd. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $31.88.
Shares of Veeco Instruments (NASDAQ:VECO) traded up 1.44% on Thursday, reaching $31.70. The company’s stock had a trading volume of 190,648 shares. The stock has a 50-day moving average price of $31.27 and a 200-day moving average price of $28.58. The company’s market capitalization is $1.29 billion. Veeco Instruments has a 1-year low of $15.53 and a 1-year high of $34.38.
Veeco Instruments (NASDAQ:VECO) last posted its quarterly earnings data on Thursday, May 4th. The semiconductor company reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). Veeco Instruments had a negative return on equity of 4.59% and a negative net margin of 36.77%. The company had revenue of $94.39 million during the quarter, compared to analysts’ expectations of $94.50 million. During the same period last year, the firm earned ($0.15) EPS. The firm’s revenue for the quarter was up 21.0% on a year-over-year basis. On average, equities research analysts forecast that Veeco Instruments will post $0.72 EPS for the current year.
In other Veeco Instruments news, President William John Miller sold 8,481 shares of the stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $31.51, for a total transaction of $267,236.31. Following the completion of the sale, the president now directly owns 69,792 shares of the company’s stock, valued at approximately $2,199,145.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John P. Kiernan sold 8,836 shares of the stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $32.44, for a total value of $286,639.84. Following the sale, the senior vice president now directly owns 23,211 shares of the company’s stock, valued at $752,964.84. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by company insiders.
Veeco Instruments Company Profile
Veeco Instruments Inc is engaged in the design, development, manufacture and support of thin film process equipment, primarily sold to make electronic devices. The Company’s geographical segments include the United States; China; Europe, Middle East and Africa (EMEA), and Rest of World (ROW). The Company’s portfolio of technology solutions focus on market areas, including Lighting, Display & Power Electronics; Advanced Packaging, micro-electromechanical systems (MEMS) & radio frequency (RF); Scientific & Industrial, and Data Storage.
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