Fintel reports that on August 3, 2023, Oppenheimer maintained coverage of Veeco Instruments (NASDAQ:VECO) with a Outperform recommendation.
Analyst Price Forecast Suggests 8.08% Downside
As of August 2, 2023, the average one-year price target for Veeco Instruments is 26.52. The forecasts range from a low of 20.20 to a high of $33.60. The average price target represents a decrease of 8.08% from its latest reported closing price of 28.85.
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The projected annual revenue for Veeco Instruments is 692MM, an increase of 7.55%. The projected annual non-GAAP EPS is 1.38.
What is the Fund Sentiment?
There are 458 funds or institutions reporting positions in Veeco Instruments. This is an increase of 16 owner(s) or 3.62% in the last quarter. Average portfolio weight of all funds dedicated to VECO is 0.13%, an increase of 1.13%. Total shares owned by institutions increased in the last three months by 0.90% to 66,843K shares. 
The put/call ratio of VECO is 0.14, indicating a bullish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 3,740K shares representing 7.23% ownership of the company. In it's prior filing, the firm reported owning 3,833K shares, representing a decrease of 2.50%. The firm increased its portfolio allocation in VECO by 7.80% over the last quarter.
Invesco holds 3,328K shares representing 6.44% ownership of the company. In it's prior filing, the firm reported owning 3,326K shares, representing 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 representing 6.40% ownership of the company. In it's prior filing, the firm reported owning 3,160K shares, representing an increase of 4.49%. The firm increased its portfolio allocation in VECO by 10.13% over the last quarter.
Neuberger Berman Group holds 3,303K shares representing 6.39% ownership of the company. In it's prior filing, the firm reported owning 3,217K shares, representing an increase of 2.63%. The firm increased its portfolio allocation in VECO by 10.42% 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. No change in the last quarter.
Veeco Instruments Background Information
(This description is provided by the company.)
Veeco is an innovative manufacturer of semiconductor process equipment. Its proven ion beam, laser annealing, lithography, MOCVD and single wafer etch & clean technologies play an integral role in the fabrication and packaging of advanced semiconductor devices. With equipment designed to optimize performance, yield and cost of ownership, Veeco holds leading technology positions in the markets.
Additional reading:
- FIRST AMENDMENT TO LOAN AND SECURITY AGREEMENT
- VEECO INSTRUMENTS INC. U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee Dated as of May 19, 2023 2.875% Convertible Senior Notes due 2029 TABLE OF CONTENTS
- VEECO ANNOUNCES PRICING OF PRIVATE OFFERING OF $205 MILLION OF 2.875% CONVERTIBLE SENIOR NOTES
- VEECO ANNOUNCES PROPOSED PRIVATE OFFERING OF $200 MILLION OF CONVERTIBLE SENIOR NOTES
- VEECO REPORTS FIRST QUARTER 2023 FINANCIAL RESULTS
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
