Veeco Gets a Buy from Benchmark Co.

By Carrie Williams

Benchmark Co. analyst Mark Miller reiterated a Buy rating on Veeco (NASDAQ: VECO) today and set a price target of $39. The company’s shares closed yesterday at $30.40.

According to TipRanks.com, Miller is a top 25 analyst with an average return of 34.1% and a 84.3% success rate. Miller covers the Technology sector, focusing on stocks such as Hutchinson Technology Inc, Rofin-Sinar Technologies, and Axcelis Technologies.

Veeco has an analyst consensus of Strong Buy, with a price target consensus of $34.50.

Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of VECO in relation to earlier this year. Most recently, in June 2016, John Peeler, the Chairman & CEO of VECO bought 45,000 shares for a total of $556,200.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Veeco Instruments, Inc. designs, manufactures and markets equipment for light emitting diodes and hard disk drives, as well as concentrator photovoltaics, power semiconductors, wireless components and micro-electromechanical systems. The company was founded in 1989 and is headquartered in Plainview, NY.