Citigroup Raises Veeco Instruments (NASDAQ:VECO) Price Target to $63.00

Veeco Instruments (NASDAQ:VECO) had its target price lifted by stock analysts at Citigroup from $60.00 to $63.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Citigroup’s price objective indicates a potential upside of 24.24% from the stock’s previous close.

Several other research firms also recently issued reports on VECO. Wall Street Zen upgraded shares of Veeco Instruments from a “hold” rating to a “buy” rating in a report on Saturday. Zacks Research cut shares of Veeco Instruments from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Weiss Ratings raised Veeco Instruments from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday. Finally, Barclays boosted their price target on Veeco Instruments from $30.00 to $55.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 19th. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Veeco Instruments has an average rating of “Hold” and a consensus price target of $49.33.

Veeco Instruments Stock Performance

VECO stock traded down $2.07 on Monday, reaching $50.71. 118,264 shares of the company were exchanged, compared to its average volume of 1,244,630. Veeco Instruments has a 12 month low of $23.31 and a 12 month high of $86.63. The stock’s fifty day moving average price is $61.13 and its 200 day moving average price is $47.39. The firm has a market capitalization of $3.10 billion, a PE ratio of 141.66 and a beta of 1.38. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.93 and a quick ratio of 2.69.

Veeco Instruments (NASDAQ:VECO) last released its earnings results on Wednesday, August 5th. The semiconductor company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.26 by $0.07. Veeco Instruments had a net margin of 3.40% and a return on equity of 3.52%. The firm had revenue of $193.48 million during the quarter, compared to analysts’ expectations of $180.08 million. During the same period in the prior year, the company earned $0.20 EPS. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. Veeco Instruments has set its FY 2026 guidance at 1.360-1.610 EPS and its Q3 2026 guidance at 0.350-0.490 EPS. On average, research analysts anticipate that Veeco Instruments will post 1.1 EPS for the current fiscal year.

Insider Transactions at Veeco Instruments

In other Veeco Instruments news, CEO William John Miller sold 50,000 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $58.62, for a total value of $2,931,000.00. Following the sale, the chief executive officer owned 369,570 shares of the company’s stock, valued at $21,664,193.40. The trade was a 11.92% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Adrian Devasahayam sold 10,000 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $65.00, for a total transaction of $650,000.00. Following the completion of the transaction, the senior vice president owned 85,115 shares of the company’s stock, valued at approximately $5,532,475. This represents a 10.51% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 231,309 shares of company stock valued at $14,295,115 over the last 90 days. Corporate insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On Veeco Instruments

Hedge funds and other institutional investors have recently made changes to their positions in the business. Louisiana State Employees Retirement System bought a new stake in Veeco Instruments in the first quarter valued at about $904,000. Fisher Asset Management LLC raised its position in Veeco Instruments by 37.4% in the fourth quarter. Fisher Asset Management LLC now owns 1,820,357 shares of the semiconductor company’s stock worth $52,026,000 after purchasing an additional 495,767 shares in the last quarter. Nano Cap New Millennium Growth Fund L P bought a new position in Veeco Instruments during the fourth quarter worth about $1,572,000. New York Life Investment Management LLC bought a new position in Veeco Instruments during the fourth quarter worth about $1,808,000. Finally, UBS Group AG boosted its holdings in Veeco Instruments by 11.0% during the fourth quarter. UBS Group AG now owns 292,360 shares of the semiconductor company’s stock valued at $8,356,000 after purchasing an additional 28,967 shares in the last quarter. 98.46% of the stock is owned by institutional investors.

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.