Northland Securities analyst Gus Richard maintained a Buy rating on Veeco (VECO) today and set a price target of $21. The company’s shares closed on Friday at $12.50.
Richard observed:
“We also expect to see margin leverage as overhead absorption and revenue mix improve and the Company controls opex growth. We reiterate our OP rating and PT.”
According to TipRanks.com, Richard is a 5-star analyst with an average return of 23.5% and a 67.5% success rate. Richard covers the Consumer Goods sector, focusing on stocks such as Adesto Technologies Corp, Quantenna Communications, and Akoustis Technologies.
Veeco has an analyst consensus of Moderate Buy, with a price target consensus of $16, which is a 28.0% upside from current levels. In a report issued on May 7, Benchmark Co. also upgraded the stock to Buy with a $15 price target.
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The company has a one-year high of $18.70 and a one-year low of $6.27. Currently, Veeco has an average volume of 298.7K.
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Veeco Instruments, Inc. is engaged 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.
