Exclusive: Can Veeco Instruments Inc.’s Tomorrow be Different? The Stock Just Broke Its High

Exclusive: Can Veeco Instruments Inc.'s Tomorrow be Different? The Stock Just Broke Its High

The stock of Veeco Instruments Inc. (NASDAQ:VECO) hit a new 52-week high and has $28.90 target or 9.00% above today’s $26.51 share price. The 7 months bullish chart indicates low risk for the $1.07B company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $28.90 price target is reached, the company will be worth $96.30M 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 210,150 shares traded hands. Veeco Instruments Inc. (NASDAQ:VECO) has risen 38.71% since April 25, 2016 and is uptrending. It has outperformed by 32.70% the S&P500.

Analysts await Veeco Instruments Inc. (NASDAQ:VECO) to report earnings on February, 27. They expect $-0.10 EPS, down 11.11% or $0.01 from last year’s $-0.09 per share. After $-0.15 actual EPS reported by Veeco Instruments Inc. for the previous quarter, Wall Street now forecasts -33.33% EPS growth.

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. Veeco Instruments has been the topic of 17 analyst reports since August 5, 2015 according to StockzIntelligence Inc. As per Friday, December 11, the company rating was upgraded by Summit Research. UBS maintained it with “Buy” rating and $24.50 target price in Thursday, October 6 report. The stock has “Overweight” rating given by Pacific Crest on Friday, May 13. The firm has “Hold” rating given on Monday, April 4 by Summit Research. The stock has “Buy” rating given by Benchmark on Thursday, October 29. The company was maintained on Thursday, October 6 by KeyBanc Capital Markets. The firm earned “Neutral” rating on Thursday, October 29 by JP Morgan. The firm has “Buy” rating by Benchmark given on Monday, September 12. The firm has “Buy” rating by Deutsche Bank given on Tuesday, August 2. The rating was maintained by Deutsche Bank on Wednesday, October 14 with “Hold”.

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 increased to 2.35 in 2016 Q2. Its up 1.26, from 1.09 in 2016Q1. The ratio improved, 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.
Arizona State Retirement Sys reported 20,712 shares or 0% of all its holdings. Capstone Asset Company, a Texas-based fund reported 11,530 shares. Thrivent Financial For Lutherans holds 0% of its portfolio in Veeco Instruments Inc. (NASDAQ:VECO) for 19,070 shares. Blackrock Inc, a New York-based fund reported 10,502 shares. Swiss Savings Bank holds 66,600 shares or 0% of its portfolio. Alliancebernstein L P, a New York-based fund reported 78,173 shares. Citigroup Incorporated holds 0% or 17,286 shares in its portfolio. Legal & General Gp Public Limited Co accumulated 8,684 shares or 0% of the stock. Invesco Limited holds 0% or 334,792 shares in its portfolio. The United Kingdom-based Blackrock Ltd has invested 0.01% in Veeco Instruments Inc. (NASDAQ:VECO). Value Ltd Partnership reported 27,100 shares or 0.29% of all its holdings. Rhumbline Advisers holds 61,152 shares or 0% of its portfolio. Delta Asset Mngmt Ltd Liability Tn holds 758 shares or 0% of its portfolio. Bogle Investment Mngmt L P De holds 0.02% of its portfolio in Veeco Instruments Inc. (NASDAQ:VECO) for 21,174 shares. Invsts owns 600,000 shares or 0% of their US portfolio.

More important recent Veeco Instruments Inc. (NASDAQ:VECO) news were published by: Fool.com which released: “Veeco Instruments, Inc. Stock Jumps on Second-Quarter Results” on August 02, 2016, also Fool.com published article titled: “Why Veeco Instruments Inc. Stock Has Been on a Roller Coaster”, Fool.com published: “Veeco Instruments Inc. Tumbles on Weak Outlook” on October 29, 2015. More interesting news about Veeco Instruments Inc. (NASDAQ:VECO) was released by: Quotes.Wsj.com and their article: “News Veeco Instruments Inc.VECO” with publication date: February 12, 2011.

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.

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