Veeco Instruments Inc (VECO)
Veeco Instruments Inc. specializes in manufacturing equipment for the nanotechnology and semiconductor industries. The company primarily produces tools used for precision surface and thin film measurement, as well as materials deposition processes, serving customers involved in LED, power electronics, data storage, and compound semiconductor applications. Founded in 1989, Veeco is recognized for its advanced technology solutions that enable the development of next-generation electronic devices.
Company News
Law firm Halper Sadeh LLC is investigating potential securities law violations and fiduciary duty breaches for several companies involving mergers and acquisitions.
Veeco Instruments (VECO) has received mixed analyst ratings over the past 3 months, with an average 12-month price target of $45, up from the previous $40.17. Analysts have maintained, raised, or lowered their ratings based on the company's performance and market conditions.
Citi has downgraded Veeco Instruments from 'Buy' to 'Neutral', despite raising the price target, citing a broader strategic approach where selectivity is increasing in the original equipment manufacturers (OEMs) and components space.
Veeco (VECO) delivered earnings and revenue surprises of 9.76% and 2.64%, respectively, for the quarter ended March 2024. Do the numbers hold clues to what lies ahead for the stock?
