Richard Damore Sells 43,701 Shares of Veeco Instruments (NASDAQ:VECO) Stock

Veeco Instruments Inc. (NASDAQ:VECO) Director Richard Damore sold 43,701 shares of Veeco Instruments stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $60.71, for a total value of $2,653,087.71. Following the transaction, the director owned 112,594 shares of the company’s stock, valued at $6,835,581.74. The trade was a 27.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Veeco Instruments Stock Down 1.7%

Shares of NASDAQ:VECO opened at $54.69 on Wednesday. The stock has a fifty day simple moving average of $42.69 and a two-hundred day simple moving average of $34.89. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of 143.92 and a beta of 1.36. Veeco Instruments Inc. has a 12-month low of $18.85 and a 12-month high of $65.43. The company has a current ratio of 4.23, a quick ratio of 2.86 and a debt-to-equity ratio of 0.26.

Veeco Instruments (NASDAQ:VECO) last announced its quarterly earnings data 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 company had revenue of $158.34 million for the quarter, compared to analysts’ expectations of $160.07 million. Veeco Instruments had a net margin of 3.53% and a return on equity of 3.49%. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.37 EPS. 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, research analysts anticipate that Veeco Instruments Inc. will post 1.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. raised its stake in shares of Veeco Instruments by 7.4% in the third quarter. PNC Financial Services Group Inc. now owns 5,111 shares of the semiconductor company’s stock worth $156,000 after purchasing an additional 350 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Veeco Instruments by 1.1% in the fourth quarter. State of Alaska Department of Revenue now owns 32,882 shares of the semiconductor company’s stock worth $939,000 after acquiring an additional 361 shares during the period. Vise Technologies Inc. grew its holdings in shares of Veeco Instruments by 5.3% in the fourth quarter. Vise Technologies Inc. now owns 7,503 shares of the semiconductor company’s stock worth $214,000 after acquiring an additional 377 shares during the period. Mercer Global Advisors Inc. ADV grew its holdings in shares of Veeco Instruments by 4.4% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 10,986 shares of the semiconductor company’s stock worth $314,000 after acquiring an additional 462 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in shares of Veeco Instruments by 9.9% in the second quarter. Russell Investments Group Ltd. now owns 6,421 shares of the semiconductor company’s stock worth $130,000 after acquiring an additional 580 shares during the period. Hedge funds and other institutional investors own 98.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Citigroup lifted their price objective on Veeco Instruments from $40.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Zacks Research lowered Veeco Instruments from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Weiss Ratings cut Veeco Instruments from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 6th. Needham & Company LLC restated a “hold” rating on shares of Veeco Instruments in a research note on Thursday, February 26th. Finally, Barclays boosted their price target on Veeco Instruments from $30.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Veeco Instruments has a consensus rating of “Hold” and a consensus target price of $40.60.

Veeco Instruments Company Profile

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.