The Chairman & CEO of Veeco (NASDAQ: VECO) is Buying Shares

By Carrie Williams

Today, the Chairman & CEO of Veeco (NASDAQ: VECO), John Peeler, bought shares of VECO for $114.4K.

Following this transaction John Peeler’s holding in the company was increased by 2.61% to a total of $4.54 million. In addition to John Peeler, 2 other VECO executives 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 536.3K.

Based on 3 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $17.50, reflecting a -34.9% downside. 19 different firms, including B.Riley FBR and Barclays, currently also have a Buy rating on the stock.

The insider sentiment on Veeco has been positive according to 35 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.