Veeco Instruments (VECO) is Reiterated by The Benchmark Company to Buy, Raises Price Target to $ 23

Veeco Instruments (VECO) was Reiterated by The Benchmark Company to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 23 from a previous price target of $21 . The Benchmark Company advised their investors in a research report released on Sep 12, 2016.

Many Wall Street Analysts have commented on Veeco Instruments. Shares were Reiterated by The Benchmark Company on Aug 2, 2016 to “Buy” and Lowered the Price Target to $ 21 from a previous price target of $23 .Company shares were Upgraded by Deutsche Bank on Aug 2, 2016 to ” Buy”, Firm has raised the Price Target to $ 22 from a previous price target of $16 .

On the company’s financial health, Veeco Instruments reported $-0.19 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 1, 2016. Analyst had a consensus of $-0.21. The company had revenue of $75.30 million for the quarter, compared to analysts expectations of $77.05 million. The company’s revenue was down -42.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.20 EPS.

Veeco Instruments opened for trading at $20.63 and hit $20.84 on the upside on Wednesday, eventually ending the session at $20.68, with a gain of 0.73% or 0.15 points. The heightened volatility saw the trading volume jump to 417,283 shares. Company has a market cap of $840 M.

In a different news, on Dec 9, 2015, William John Miller (EVP Process Equipment) sold 1,210 shares at $19.60 per share price. According to the SEC, on Jun 10, 2015, John R Peeler (Chairman & CEO) sold 44,418 shares at $30.87 per share price. On Jun 2, 2015, Roger D Mcdaniel (director) sold 2,232 shares at $30.57 per share price, according to the Form-4 filing with the securities and exchange commission.

Veeco Instruments Inc. (Veeco) designs manufactures and markets thin film equipment. The Company’s equipment is primarily sold to make electronic devices including light emitting diodes (LED) power electronics wireless devices hard disk drives and semiconductors. The Company sells its products and services worldwide primarily through various sales and service facilities in the United States Europe and Asia Pacific. The Company’s systems including its deposition and etch tools are used in the creation of a range of microelectronic components including light-emitting diode (LED) power semiconductors thin film magnetic heads (TFMHs) and compound semiconductor devices. The Company offers Metal Organic Chemical Vapor Deposition Systems Molecular Beam Epitaxy Systems Fast Array Scanning Atomic Layer Deposition Systems Precision Surface Processing Systems Ion Beam Deposition Systems Ion Beam Etch Systems and Other Data Storage Products.

Veeco Instruments

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