Stock Mover of the Day: Veeco Instruments Inc. Surges to 52-Week High, Is Now Top Performer

Stock Mover of the Day: Veeco Instruments Inc. Surges to 52 Week High, Is Now Top Performer

The stock of Veeco Instruments Inc. (NASDAQ:VECO) hit a new 52-week high and has $33.72 target or 44.00% above today’s $23.42 share price. The 7 months bullish chart indicates low risk for the $951.92M company. The 1-year high was reported on Nov, 4 by If the $33.72 price target is reached, the company will be worth $418.84M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 38,780 shares traded hands. Veeco Instruments Inc. (NASDAQ:VECO) has risen 21.48% since April 4, 2016 and is uptrending. It has outperformed by 20.39% the S&P500.

Veeco Instruments Inc. (NASDAQ:VECO) Ratings Coverage

Out of 10 analysts covering Veeco Instruments (NASDAQ:VECO), 6 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 60% are positive. $30 is the highest target while $14 is the lowest. The $23.06 average target is -1.54% below today’s ($23.42) stock price. Veeco Instruments has been the topic of 17 analyst reports since August 5, 2015 according to StockzIntelligence Inc. As per Thursday, October 29, the company rating was maintained by Benchmark. UBS maintained Veeco Instruments Inc. (NASDAQ:VECO) on Thursday, October 6 with “Buy” rating. The rating was upgraded by Summit Research on Friday, December 11 to “Hold”. The firm has “Overweight” rating by KeyBanc Capital Markets given on Thursday, October 6. Benchmark maintained it with “Buy” rating and $23 target price in Monday, September 12 report. The stock of Veeco Instruments Inc. (NASDAQ:VECO) has “Hold” rating given on Monday, April 4 by Summit Research. The firm earned “Neutral” rating on Thursday, October 29 by JP Morgan. The firm has “Buy” rating by Deutsche Bank given on Tuesday, August 2. Deutsche Bank maintained Veeco Instruments Inc. (NASDAQ:VECO) on Wednesday, October 14 with “Hold” rating. The stock has “Overweight” rating given by Pacific Crest on Friday, May 13.

According to Zacks Investment Research, “VEECO INSTRUMENTS INC. (DE) designs, manufactures, markets and services a broad line of precision beam etching and surface measurement systems used in the manufacture of microelectronic products. It sells its products worldwide to many of the leading semiconductor and data storage manufacturers. In addition, it sells its products to companies in the flat panel display and high frequency device industries, as well as to other industries, research and development centers and universities.”

Insitutional Activity: The institutional sentiment decreased to 1.09 in 2016 Q2. Its down 0.47, from 1.56 in 2016Q1. The ratio dived, as 16 funds sold all Veeco Instruments Inc. shares owned while 40 reduced positions. 11 funds bought stakes while 50 increased positions. They now own 38.19 million shares or 0.68% more from 37.93 million shares in 2016Q1.
Bessemer Grp holds 0% or 136 shares in its portfolio. The Texas-based Dimensional Fund Advsrs L P has invested 0.02% in Veeco Instruments Inc. (NASDAQ:VECO). Parallax Volatility Advisers Limited Partnership last reported 770 shares in the company. Nationwide Fund Advisors accumulated 0% or 27,236 shares. Checchi Capital Advisers Limited Liability holds 21 shares or 0% of its portfolio. New York State Common Retirement Fund owns 422,448 shares or 0.01% of their US portfolio. Northern Tru has 461,286 shares for 0% of their US portfolio. Ladenburg Thalmann Finance Inc accumulated 0% or 49 shares. The Illinois-based Archford Cap Strategies Ltd Liability Company has invested 0% in Veeco Instruments Inc. (NASDAQ:VECO). Deutsche Comml Bank Ag holds 0% or 181,065 shares in its portfolio. Principal Gru Inc accumulated 280,376 shares or 0.01% of the stock. Moreover, Spark Mngmt Limited Liability Co has 0.03% invested in Veeco Instruments Inc. (NASDAQ:VECO) for 21,900 shares. Pinebridge Invs Limited Partnership holds 0% or 5,018 shares in its portfolio. State Board Of Administration Of Florida Retirement Sys holds 0% or 35,984 shares in its portfolio. Comerica Savings Bank has 0.01% invested in the company for 40,502 shares.

More notable recent Veeco Instruments Inc. (NASDAQ:VECO) news were published by: which released: “Veeco Instruments, Inc. Stock Jumps on Second-Quarter Results” on August 02, 2016, also with their article: “Why Veeco Instruments Inc. Stock Slid on Tuesday” published on February 23, 2016, published: “Why Veeco Instruments Inc. Stock Has Been on a Roller Coaster” on November 11, 2015. More interesting news about Veeco Instruments Inc. (NASDAQ:VECO) were released by: and their article: “Veeco Instruments Inc. Tumbles on Weak Outlook” published on October 29, 2015 as well as‘s news article titled: “Veeco Instruments to move 18 LI manufacturing jobs to NJ” with publication date: July 18, 2016.

VECO Company Profile

Veeco Instruments Inc., incorporated on August 8, 1989, designs, makes, markets and supports thin film equipment. The Company’s equipment is used to make electronic devices, including light emitting diodes (LED), micro-electromechanical systems (MEMS), wireless devices, power electronics, hard disk drives (HDDs) and semiconductors. The Firm operates in four geographic regions: United States; China; Europe, the Middle East and Africa, and the Rest of World.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment