Veeco Instruments Inc (NASDAQ: VECO) has seen a decline in its stock price by -1.34 in relation to its previous close of 32.20. However, the company has experienced a -10.91% decline in its stock price over the last five trading sessions. globenewswire.com reported 2024-08-14 that Veeco’s WaferStorm® Wet Processing System to Enable Essential Cleaning Processes in Hybrid Bonding for IBM Veeco’s WaferStorm® Wet Processing System to Enable Essential Cleaning Processes in Hybrid Bonding for IBM
Is It Worth Investing in Veeco Instruments Inc (NASDAQ: VECO) Right Now?
The price-to-earnings ratio for Veeco Instruments Inc (NASDAQ: VECO) is above average at 22.73x. The 36-month beta value for VECO is also noteworthy at 1.18. There are mixed opinions on the stock, with 4 analysts rating it as a “buy,” 2 rating it as “overweight,” 3 rating it as “hold,” and 0 rating it as “sell.”
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The public float for VECO is 55.41M, and at present, short sellers hold a 9.49% of that float. The average trading volume of VECO on September 05, 2024 was 837.76K shares.
VECO’s Market Performance
VECO’s stock has seen a -10.91% decrease for the week, with a -9.23% drop in the past month and a -21.38% fall in the past quarter. The volatility ratio for the week is 4.20%, and the volatility levels for the past 30 days are at 3.87% for Veeco Instruments Inc The simple moving average for the past 20 days is -12.37% for VECO’s stock, with a -12.24% simple moving average for the past 200 days.
Analysts’ Opinion of VECO
Many brokerage firms have already submitted their reports for VECO stocks, with Citigroup repeating the rating for VECO by listing it as a “Neutral.” The predicted price for VECO in the upcoming period, according to Citigroup is $50 based on the research report published on July 15, 2024 of the current year 2024.
Citigroup, on the other hand, stated in their research note that they expect to see VECO reach a price target of $35. The rating they have provided for VECO stocks is “Buy” according to the report published on September 13th, 2023.
Needham gave a rating of “Buy” to VECO, setting the target price at $35 in the report published on September 01st of the previous year.
VECO Trading at -21.91% from the 50-Day Moving Average
After a stumble in the market that brought VECO to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -35.49% of loss for the given period.
Volatility was left at 3.87%, however, over the last 30 days, the volatility rate increased by 4.20%, as shares sank -9.54% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -28.73% lower at present.
During the last 5 trading sessions, VECO fell by -10.91%, which changed the moving average for the period of 200-days by +13.63% in comparison to the 20-day moving average, which settled at $36.09. In addition, Veeco Instruments Inc saw 2.38% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at VECO starting from KIERNAN JOHN P, who sale 2,500 shares at the price of $36.48 back on Aug 12 ’24. After this action, KIERNAN JOHN P now owns 87,642 shares of Veeco Instruments Inc, valued at $91,208 using the latest closing price.
KIERNAN JOHN P, the SVP & CHIEF FINANCIAL OFFICER of Veeco Instruments Inc, sale 2,500 shares at $48.46 during a trade that took place back on Jul 10 ’24, which means that KIERNAN JOHN P is holding 94,809 shares at $121,138 based on the most recent closing price.
Stock Fundamentals for VECO
Current profitability levels for the company are sitting at:
- 0.12 for the present operating margin
- 0.43 for the gross margin
The net margin for Veeco Instruments Inc stands at 0.12. The total capital return value is set at 0.08. Equity return is now at value 12.66, with 6.82 for asset returns.
Based on Veeco Instruments Inc (VECO), the company’s capital structure generated 0.28 points at debt to capital in total, while cash flow to debt ratio is standing at 0.19. The debt to equity ratio resting at 0.39. The interest coverage ratio of the stock is 7.63.
Currently, EBITDA for the company is 97.03 million with net debt to EBITDA at 1.32. When we switch over and look at the enterprise to sales, we see a ratio of 2.77. The receivables turnover for the company is 5.32for trailing twelve months and the total asset turnover is 0.57. The liquidity ratio also appears to be rather interesting for investors as it stands at 3.52.
Conclusion
In summary, Veeco Instruments Inc (VECO) has had a mixed performance as of late. Analysts have bullish opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
