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

Veeco Instruments (NASDAQ:VECO) had its price objective hoisted by investment analysts at Citigroup from $40.00 to $60.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Citigroup’s price target points to a potential upside of 3.95% from the stock’s current price.

A number of other analysts have also recently weighed in on VECO. Needham & Company LLC reaffirmed a “hold” rating on shares of Veeco Instruments in a research report on Thursday, February 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Veeco Instruments in a research report on Wednesday, January 21st. Finally, Zacks Research cut 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, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $33.60.

Veeco Instruments Stock Down 6.9%

VECO opened at $57.72 on Wednesday. Veeco Instruments has a 1 year low of $18.31 and a 1 year high of $65.43. The firm has a 50 day moving average price of $38.26 and a 200 day moving average price of $33.22. 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 company has a market cap of $3.52 billion, a PE ratio of 151.90 and a beta of 1.36.

Veeco Instruments (NASDAQ:VECO) last announced its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.06). Veeco Instruments had a net margin of 3.53% and a return on equity of 3.49%. The business had revenue of $158.34 million for the quarter, compared to analyst estimates of $160.07 million. During the same period last year, the firm earned $0.37 earnings per share. The company’s quarterly revenue was down 5.4% on a year-over-year basis. 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. Sell-side analysts expect that Veeco Instruments will post 1.04 earnings per share for the current year.

Insider Buying and Selling at Veeco Instruments

In other news, CEO William John Miller sold 50,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer directly owned 414,543 shares in the company, valued at approximately $13,107,849.66. This represents a 10.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On Veeco Instruments

Institutional investors have recently added to or reduced their stakes in the company. Magnetar Financial LLC acquired a new stake in shares of Veeco Instruments during the fourth quarter valued at about $48,342,000. American Century Companies Inc. boosted its holdings in Veeco Instruments by 920.1% in the third quarter. American Century Companies Inc. now owns 676,502 shares of the semiconductor company’s stock valued at $20,586,000 after purchasing an additional 610,187 shares during the last quarter. Fisher Asset Management LLC boosted its holdings 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 valued at $52,026,000 after purchasing an additional 495,767 shares during the last quarter. Millennium Management LLC grew its stake in Veeco Instruments by 1,164.3% during the 4th quarter. Millennium Management LLC now owns 477,386 shares of the semiconductor company’s stock valued at $13,644,000 after purchasing an additional 439,628 shares in the last quarter. Finally, AQR Arbitrage LLC purchased a new stake in Veeco Instruments during the 4th quarter worth approximately $11,648,000. Institutional investors and hedge funds own 98.46% of the company’s stock.

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.