According to Fintel, on May 26, 2023, Benchmark confirmed coverage of Veeco Instruments (NASDAQ:VECO) with a Buy recommendation.
Analyst Price Forecast Indicates Potential 9.44% Upside
As of May 11, 2023, the average one-year price target for Veeco Instruments is 25.50. The forecasts range from a low of 20.20 to a high of $33.60. The average price target represents an increase of 9.44% from its latest reported closing price of 23.30.
For more information, check out our leaderboard of companies with the largest price target upside.
The projected annual revenue for Veeco Instruments is 692MM, an increase of 7.55%. The estimated annual non-GAAP EPS is 1.38.
What is the Fund Sentiment?
There are 448 funds or institutions reporting positions in Veeco Instruments, an increase of 7 owners or 1.59% in the last quarter. The average portfolio weight of all funds dedicated to VECO is 0.13%, up by 10.70%. Total shares owned by institutions increased in the last three months by 3.09% to 66,471K shares. The put/call ratio of VECO is 0.33, indicating a bullish outlook.
What are Other Shareholders Doing?
Among shareholders, IJR – iShares Core S&P Small-Cap ETF owns 3,740K shares or 7.23% of the company. In its prior filing, it reported owning 3,833K shares, a decrease of 2.50%. The firm increased its portfolio allocation in VECO by 7.80% over the last quarter. Invesco owns 3,328K shares, representing 6.44% ownership of the company. In its prior filing, the firm reported owning 3,326K shares, an increase of 0.06%. The firm decreased its portfolio allocation in VECO by 89.97% over the last quarter. Wasatch Advisors holds 3,309K shares or 6.40% ownership of the company. In its prior filing, the firm reported owning 3,160K shares, an increase of 4.49%. The firm increased its portfolio allocation in VECO by 10.13% over the last quarter. Neuberger Berman Group owns 3,303K shares, representing 6.39% ownership of the company. In its prior filing, the firm reported owning 3,217K shares, an increase of 2.63%. The firm decreased its portfolio allocation in VECO by 43.61% over the last quarter. AIM INTERNATIONAL MUTUAL FUNDS (INVESCO INTERNATIONAL MUTUAL FUNDS) – Invesco Oppenheimer Global Opportunities Fund Class R5 holds 3,000K shares representing 5.80% ownership of the company, with no change in the last quarter.
Veeco Instruments Background Information
(This description is provided by the company.)
Veeco is a manufacturer of semiconductor process equipment. Its technologies, including ion beam, laser annealing, lithography, MOCVD, and single wafer etch & clean, play a key role in the production and packaging of state-of-the-art semiconductor devices. Veeco holds leading technology positions in the markets with equipment designed to optimize performance, yield, and cost of ownership.
For key filings related to the company, please visit Fintel.
Note: The opinions expressed herein are those of the author and do not necessarily represent those of Nasdaq, Inc.