Veeco Instruments (NASDAQ:VECO) Given New $40.00 Price Target at Oppenheimer

Veeco Instruments (NASDAQ:VECO) had its target price trimmed by Oppenheimer from $45.00 to $40.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the semiconductor company’s stock.

A number of other equities analysts also recently commented on VECO. The Goldman Sachs Group cut their price objective on shares of Veeco Instruments from $35.00 to $30.00 and set a “neutral” rating for the company in a research report on Thursday. Needham & Company LLC restated a “buy” rating and issued a $55.00 price objective on shares of Veeco Instruments in a research report on Wednesday, August 7th. Northland Securities lowered their price objective on Veeco Instruments from $53.00 to $47.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. StockNews.com raised Veeco Instruments from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Benchmark dropped their price objective on Veeco Instruments from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $42.14.

Veeco Instruments Trading Down 1.4 %

NASDAQ:VECO opened at $28.68 on Thursday. Veeco Instruments has a 12-month low of $26.23 and a 12-month high of $49.25. The company has a current ratio of 3.52, a quick ratio of 2.32 and a debt-to-equity ratio of 0.35. The stock’s 50 day simple moving average is $31.08 and its 200-day simple moving average is $37.45. The firm has a market cap of $1.63 billion, a P/E ratio of 21.24 and a beta of 1.17.

Insider Buying and Selling

In related news, CFO John P. Kiernan sold 2,500 shares of Veeco Instruments stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $32.63, for a total transaction of $81,575.00. Following the completion of the transaction, the chief financial officer now directly owns 82,642 shares of the company’s stock, valued at approximately $2,696,608.46. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Intech Investment Management LLC acquired a new stake in Veeco Instruments in the 3rd quarter valued at about $529,000. Segall Bryant & Hamill LLC lifted its holdings in shares of Veeco Instruments by 165.0% in the third quarter. Segall Bryant & Hamill LLC now owns 370,917 shares of the semiconductor company’s stock valued at $12,288,000 after purchasing an additional 230,971 shares in the last quarter. Avior Wealth Management LLC grew its position in shares of Veeco Instruments by 34.2% in the third quarter. Avior Wealth Management LLC now owns 8,754 shares of the semiconductor company’s stock valued at $290,000 after purchasing an additional 2,231 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Veeco Instruments during the 3rd quarter worth approximately $1,368,000. Finally, Quest Partners LLC raised its position in shares of Veeco Instruments by 47.0% during the 3rd quarter. Quest Partners LLC now owns 8,922 shares of the semiconductor company’s stock worth $296,000 after purchasing an additional 2,853 shares during the last quarter. Hedge funds and other institutional investors own 98.46% of the company’s stock.

Veeco Instruments Company Profile

Veeco Instruments Inc, together with its subsidiaries, develops, manufactures, sells, and supports semiconductor and thin film process equipment primarily to make electronic devices in the United States, Europe, the Middle East, and Africa, China, Rest of the Asia-Pacific, and internationally. The company offers laser annealing, ion beam deposition and etch, metal organic chemical vapor deposition, single wafer wet processing and surface preparation, molecular beam epitaxy, advanced packaging lithography, atomic layer deposition, and other deposition systems.