Northland Securities analyst Gus Richard maintained a Buy rating on Veeco (VECO) today and set a price target of $20.00. The company’s shares closed last Monday at $14.31.
According to TipRanks.com, Richard is a top 100 analyst with an average return of 25.3% and a 71.0% success rate. Richard covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Himax Technologies, and Power Integrations.
Veeco has an analyst consensus of Strong Buy, with a price target consensus of $17.50, implying a 28.3% upside from current levels. In a report issued on July 31, Oppenheimer also assigned a Buy rating to the stock with a $18.00 price target.
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Based on Veeco’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $105 million and GAAP net loss of $567K. In comparison, last year the company earned revenue of $99.37 million and had a GAAP net loss of $18.53 million.
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Veeco Instruments, Inc. engages in the development, manufacture, sale and support of semiconductor process equipment. Its technologies consists 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. The company was founded in 1989 and is headquartered in Plainview, NY.
