Veeco Instruments SVP Peter Collingwood Unloads 6,223 Shares (VECO)
Veeco Instruments (NASDAQ:VECO) SVP Peter Collingwood sold 6,223 shares of the company’s stock on the open market in a transaction dated Thursday, January 9th. The stock was sold at an average price of $35.00, for a total value of $217,805.00. Following the completion of the sale, the senior vice president now directly owns 5,417 shares in the company, valued at approximately $189,595. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on VECO shares. Analysts at Berenberg Bank downgraded shares of Veeco Instruments from a “buy” rating to a “hold” rating in a research note to investors on Wednesday. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Veeco Instruments from $31.00 to $33.50 in a research note to investors on Thursday, December 19th. They now have a “neutral” rating on the stock. Finally, analysts at Wedbush cut their price target on shares of Veeco Instruments from $35.00 to $30.00 in a research note to investors on Tuesday, November 12th. They now have a “neutral” rating on the stock. Four analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $31.02.
Veeco Instruments (NASDAQ:VECO) last released its earnings data on Monday, November 11th. The company reported ($0.08) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.03) by $0.05. The company had revenue of $99.30 million for the quarter, compared to the consensus estimate of $94.04 million. During the same quarter in the prior year, the company posted $0.30 earnings per share. The company’s quarterly revenue was down 25.2% on a year-over-year basis.
Veeco Instruments Inc (NASDAQ:VECO) designs, manufactures and markets equipment to make light emitting diodes (LEDs), hard-disk drives, as well as for emerging applications such as concentrator photovoltaics, power semiconductors, wireless components, microelectromechanical systems (MEMS), and other next-generation devices.
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