The EVP & CFO of Veeco (VECO) is Buying Shares


Today, the EVP & CFO of Veeco (NASDAQ: VECO), Shubham Maheshwari, bought shares of VECO for $103.2K.

This recent transaction increases Shubham Maheshwari’s holding in the company by 11.21% to a total of $1.04 million. In addition to Shubham Maheshwari, one other VECO executive reported Buy trades in the last month.

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Based on Veeco’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $158 million and GAAP net loss of $238 million. In comparison, last year the company earned revenue of $115 million and had a GAAP net loss of $18.39 million. Currently, Veeco has an average volume of 748.1K.

19 different firms, including B.Riley FBR and Barclays, currently also have a Buy rating on the stock. Based on 3 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $17.50, reflecting a -34.0% downside.

The insider sentiment on Veeco has been positive according to 34 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.

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Veeco Instruments, Inc. engages in the development, manufacture, sale, and support of semiconductor process equipment. Its primary technologies is comprised of metal organic chemical vapor deposition, advanced packaging lithography, wet etch and clean, laser annealing, ion beam, molecular beam epitaxy, wafer inspection, and atomic layer deposition systems.

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