After Stifel Nicolaus and Benchmark Co. gave Veeco (NASDAQ: VECO) a Buy rating last month, the company received another Buy, this time from Northland Securities. Analyst Gus Richard maintained a Buy rating on Veeco today and set a price target of $20.00. The company’s shares closed last Tuesday at $9.57.
According to TipRanks.com, Richard is a 5-star analyst with an average return of 16.3% and a 61.3% success rate. Richard covers the Consumer Goods sector, focusing on stocks such as SolarEdge Technologies, Axcelis Technologies, and Power Integrations.
Veeco has an analyst consensus of Strong Buy, with a price target consensus of $18.00, implying an 81.3% upside from current levels. In a report issued on March 18, Benchmark Co. also maintained a Buy rating on the stock with a $16.00 price target.
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Based on Veeco’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $113 million and GAAP net loss of $32.87 million. In comparison, last year the company earned revenue of $98.97 million and had a GAAP net loss of $145 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.
