Veeco Instruments (NASDAQ:VECO) Price Target Raised to $60.00

Veeco Instruments (NASDAQ:VECO) had its price objective hoisted by Citigroup from $40.00 to $60.00 in a report issued on Wednesday,Benzinga reports. Citigroup currently has a buy rating on the semiconductor company’s stock.

Several other analysts have also recently commented on VECO. Weiss Ratings restated a “hold (c)” rating on shares of Veeco Instruments in a report on Wednesday, January 21st. Needham & Company LLC reiterated a “hold” rating on shares of Veeco Instruments in a research note on Thursday, February 26th. Finally, Zacks Research cut shares of Veeco Instruments from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Veeco Instruments has a consensus rating of “Hold” and a consensus target price of $37.00.

Veeco Instruments Stock Performance

VECO stock opened at $59.42 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 3.20 and a current ratio of 4.23. The stock has a market cap of $3.63 billion, a P/E ratio of 156.37 and a beta of 1.36. The firm has a 50 day simple moving average of $38.26 and a 200 day simple moving average of $33.22. Veeco Instruments has a 52 week low of $18.85 and a 52 week high of $65.43.

Veeco Instruments (NASDAQ:VECO) last posted its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.06). The company had revenue of $158.34 million for the quarter, compared to analyst estimates of $160.07 million. Veeco Instruments had a return on equity of 3.49% and a net margin of 3.53%.The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.37 earnings per share. 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. Research analysts anticipate that Veeco Instruments will post 1.04 earnings per share for the current fiscal year.

Insider Transactions at Veeco Instruments

In other Veeco Instruments news, CEO William John Miller sold 50,000 shares of Veeco Instruments stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $31.62, for a total value of $1,581,000.00. Following the completion of the sale, the chief executive officer directly owned 414,543 shares in the company, valued at $13,107,849.66. The trade was a 10.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is owned by company insiders.

Institutional Trading of Veeco Instruments

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Veeco Instruments by 0.8% in the third quarter. Vanguard Group Inc. now owns 7,663,310 shares of the semiconductor company’s stock valued at $233,195,000 after acquiring an additional 62,016 shares during the last quarter. Wasatch Advisors LP raised its position in shares of Veeco Instruments by 4.9% in the second quarter. Wasatch Advisors LP now owns 3,396,804 shares of the semiconductor company’s stock valued at $69,023,000 after purchasing an additional 157,978 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Veeco Instruments by 9.7% in the second quarter. The Manufacturers Life Insurance Company now owns 3,215,031 shares of the semiconductor company’s stock worth $65,329,000 after buying an additional 284,716 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Veeco Instruments by 1.1% in the third quarter. Dimensional Fund Advisors LP now owns 2,481,803 shares of the semiconductor company’s stock worth $75,521,000 after buying an additional 26,248 shares during the last quarter. Finally, Paradigm Capital Management Inc. NY lifted its stake in shares of Veeco Instruments by 1.3% in the second quarter. Paradigm Capital Management Inc. NY now owns 2,410,000 shares of the semiconductor company’s stock worth $48,971,000 after buying an additional 30,000 shares during the last quarter. 98.46% of the stock is currently owned by institutional investors and hedge funds.

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.