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Veeco Instruments Inc. (VECO) Stock Could Soon Reward Patient Investors

Veeco Instruments Inc. (NASDAQ: VECO) is -31.40% lower on its value in year-to-date trading and has touched a low of $17.23 and a high of $32.40 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The VECO stock was last observed hovering at around $18.49 in the last trading session, with the day’s gains setting it 1.04% off its average median price target of $35.00 for the next 12 months. It is also 49.92% off the consensus price target high of $39.00 offered by 6 analysts, but current levels are 30.25% higher than the price target low of $28.00 for the same period.

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Currently trading at $19.53, the stock is 4.10% and -3.69% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.3 million and changing 5.62% at the moment leaves the stock -21.49% off its SMA200. VECO registered -5.92% loss for a year compared to 6-month loss of -38.95%.

The stock witnessed a 3.39% gain in the last 1 month and extending the period to 3 months gives it a -17.94%, and is 8.92% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.82% over the week and 4.33% over the month.

Veeco Instruments Inc. (VECO) has around 1091 employees, a market worth around $972.79M and $606.00M in sales. Current P/E ratio is 30.47 and Fwd P/E is 10.13. Profit margin for the company is 6.10%. Distance from 52-week low is 13.35% and -39.72% from its 52-week high. The company has generated returns on investments over the last 12 months (8.60%).

Veeco Instruments Inc. (VECO) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Veeco Instruments Inc. (VECO) is a “Overweight”. 6 analysts offering their recommendations for the stock have an average rating of 1.80, where 1 rate it as a Hold and 1 think it is a “Overweight”. 4 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Veeco Instruments Inc. is expected to release its quarterly report on 11/03/2022.The EPS is expected to grow by 379.80% this year.

Veeco Instruments Inc. (VECO) Top Institutional Holders

The shares outstanding are 49.61M, and float is at 49.42M with Short Float at 7.57%.

Veeco Instruments Inc. (VECO) Insider Activity

A total of 35 insider transactions have happened at Veeco Instruments Inc. (VECO) in the last six months, with sales accounting for 14 and purchases happening 21 times. The most recent transaction is an insider purchase by St Dennis Thomas,the company’sDirector. SEC filings show that St Dennis Thomas bought 2,500 shares of the company’s common stock on May 16 at a price of $21.60 per share for a total of $54000.0. Following the purchase, the insider now owns 52429.0 shares.

Veeco Instruments Inc. disclosed in a document filed with the SEC on May 11 that KIERNAN JOHN P (SVP & CHIEF FINANCIAL OFFICER) bought a total of 5,000 shares of the company’s common stock. The trade occurred on May 11 and was made at $20.79 per share for $0.1 million. Following the transaction, the insider now directly holds 89158.0 shares of the VECO stock.

Still, SEC filings show that on May 11, Miller William John (CEO) acquired 5,000 shares at an average price of $20.30 for $0.1 million. The insider now directly holds 521,921 shares of Veeco Instruments Inc. (VECO).

Veeco Instruments Inc. (VECO): Who are the competitors?

The company’s main competitors (and peers) include AXT Inc. (AXTI) that is trading -29.60% down over the past 12 months and Wolfspeed Inc. (WOLF) that is -9.53% lower over the same period. Intevac Inc. (IVAC) is -17.49% down on the 1-year trading charts.

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