Key Points
- Veeco Instruments director Richard Damore sold 43,701 shares on May 14 for about $2.65 million, reducing his direct stake by roughly 28%. After the sale, he still owned 112,594 shares valued at about $6.84 million.
- The company’s latest earnings missed expectations, with Q1 EPS of $0.14 versus the $0.20 consensus and revenue of $158.34 million versus $160.07 million expected. Revenue also declined 5.4% year over year.
- Analyst sentiment is mixed, with an average rating of “Hold” and a median target price of $37.00, though Citigroup recently raised its target to $60 and kept a Buy rating. Institutional investors remain heavily involved, with 98.46% of shares held by institutions.
Veeco Instruments Inc. (NASDAQ:VECO - Get Free Report) Director Richard Damore sold 43,701 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $60.71, for a total transaction of $2,653,087.71. Following the completion of the sale, the director directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Veeco Instruments Price Performance
Veeco Instruments stock opened at $55.65 on Tuesday. Veeco Instruments Inc. has a 52-week low of $18.85 and a 52-week high of $65.43. The firm has a fifty day moving average of $42.21 and a 200-day moving average of $34.71. The firm has a market capitalization of $3.40 billion, a P/E ratio of 146.45 and a beta of 1.36. The company has a quick ratio of 2.86, a current ratio of 4.23 and a debt-to-equity ratio of 0.26.
Veeco Instruments (NASDAQ:VECO - Get Free Report) last announced its earnings results on Tuesday, May 5th. The semiconductor company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.06). The firm had revenue of $158.34 million during 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%. Veeco Instruments's revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter last year, the company 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. As a group, analysts predict that Veeco Instruments Inc. will post 1.1 EPS for the current year.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in VECO. Royal Bank of Canada boosted its stake in Veeco Instruments by 29.6% during the 1st quarter. Royal Bank of Canada now owns 134,088 shares of the semiconductor company's stock valued at $2,692,000 after acquiring an additional 30,646 shares during the last quarter. AQR Capital Management LLC boosted its stake in Veeco Instruments by 51.5% during the 1st quarter. AQR Capital Management LLC now owns 29,785 shares of the semiconductor company's stock valued at $598,000 after acquiring an additional 10,122 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Veeco Instruments by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,043 shares of the semiconductor company's stock valued at $664,000 after acquiring an additional 1,434 shares during the last quarter. Millennium Management LLC boosted its stake in Veeco Instruments by 148.0% during the 1st quarter. Millennium Management LLC now owns 474,415 shares of the semiconductor company's stock valued at $9,526,000 after acquiring an additional 283,099 shares during the last quarter. Finally, Woodline Partners LP bought a new position in Veeco Instruments during the 1st quarter valued at $618,000. 98.46% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on VECO shares. Needham & Company LLC restated a "hold" rating on shares of Veeco Instruments in a research note on Thursday, February 26th. Citigroup upped their target price on shares of Veeco Instruments from $40.00 to $60.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Weiss Ratings downgraded shares of Veeco Instruments from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, May 6th. Finally, Zacks Research downgraded shares of Veeco Instruments from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $37.00.
Get Our Latest Analysis on Veeco Instruments
Veeco Instruments Company Profile
(
Get Free Report)
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.
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