Veeco Instruments Inc. [NASDAQ: VECO] plunged by -$0.49 during the normal trading session on Tuesday and reaching a high of $21.28 during the day while it closed the day at $20.62. The company report on February 15, 2023 that Veeco Reports Fourth Quarter and Fiscal Year 2022 Financial Results.
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Fourth Quarter 2022 Highlights:.
Revenues of $153.8 million, compared with $153.0 million in the same period last year.
Veeco Instruments Inc. stock has also loss -3.06% of its value over the past 7 days. However, VECO stock has inclined by 4.46% in the 3 months of the year. Over the past six months meanwhile, it has gained 4.51% and gained 10.98% year-on date.
The market cap for VECO stock reached $1.06 billion, with 51.66 million shares outstanding and 50.37 million shares in the current float. Compared to the average trading volume of 339.30K shares, VECO reached a trading volume of 6205240 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Veeco Instruments Inc. [VECO]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for VECO shares is $24.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on VECO stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Barclays have made an estimate for Veeco Instruments Inc. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on January 23, 2023. While these analysts kept the previous recommendation, Northland Capital raised their target price to Outperform. The new note on the price target was released on December 28, 2021, representing the official price target for Veeco Instruments Inc. stock. Previously, the target price had yet another drop from $29 to $26, while Goldman kept a Neutral rating on VECO stock.
The Average True Range (ATR) for Veeco Instruments Inc. is set at 0.73, with the Price to Sales ratio for VECO stock in the period of the last 12 months amounting to 1.64. The Price to Book ratio for the last quarter was 1.79, with the Price to Cash per share for the same quarter was set at 5.90. Price to Free Cash Flow for VECO in the course of the last twelve months was 12.60 with Quick ratio for the last quarter at 1.80.
VECO stock trade performance evaluation
Veeco Instruments Inc. [VECO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.06. With this latest performance, VECO shares dropped by -2.92% in over the last four-week period, additionally plugging by 4.51% over the last 6 months – not to mention a drop of -25.75% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for VECO stock in for the last two-week period is set at 47.69, with the RSI for the last a single of trading hit 42.82, and the three-weeks RSI is set at 50.09 for Veeco Instruments Inc. [VECO]. The present Moving Average for the last 50 days of trading for this stock 20.21, while it was recorded at 21.35 for the last single week of trading, and 19.94 for the last 200 days.
Veeco Instruments Inc. [VECO]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Veeco Instruments Inc. [VECO] shares currently have an operating margin of +9.38 and a Gross Margin at +39.18. Veeco Instruments Inc.’s Net Margin is presently recorded at +25.84.
Return on Equity for this stock inclined to 32.88, with Return on Assets sitting at 16.47.
Veeco Instruments Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.80 and a Current Ratio set at 2.60.
Veeco Instruments Inc. [VECO]: Insider Ownership positions
There are presently around $1,117 million, in the hands of institutional investors. The top three institutional holders of VECO stocks are: BLACKROCK INC. with ownership of 8,389,711, which is approximately 4.506% of the company’s market cap and around 1.50% of the total institutional ownership; VANGUARD GROUP INC, holding 5,947,703 shares of the stock with an approximate value of $122.64 million in VECO stocks shares; and INVESCO LTD., currently with $68.59 million in VECO stock with ownership of nearly -17.484% of the company’s market capitalization.
Positions in Veeco Instruments Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 103 institutional holders increased their position in Veeco Instruments Inc. [NASDAQ:VECO] by around 5,525,191 shares. Additionally, 76 investors decreased positions by around 2,775,979 shares, while 22 investors held positions by with 45,858,030 shares. The mentioned changes placed institutional holdings at 54,159,200 shares, according to the latest SEC report filing. VECO stock had 28 new institutional investments in for a total of 1,281,306 shares, while 18 institutional investors sold positions of 589,364 shares during the same period.