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Veeco Instruments Inc. 24.1% Potential Upside Indicated by The Benchmark Company

Veeco Instruments Inc. using SYMBOL code NASDAQ:VECO had its stock rating noted as ‘Coverage Initiated’ with the recommendation being set at ‘BUY’ today by analysts at The Benchmark Company. Veeco Instruments Inc. are listed in the Technology sector within NASDAQ. The Benchmark Company have set a target price of 38 USD on its stock. This would imply the analyst believes there is a potential upside of 24.1% from the opening price of 30.61 USD. Veeco Instruments Inc. NASDAQ:VECO has a 50 day moving average of 31.42 USD and a 200 Day Moving Average share price is recorded at 33.75 USD. The 1 year high for the stock price is 38.4 USD while the 52 week low for the stock is 27.8 USD.

 

Veeco Instruments Inc. NASDAQ:VECO designs, manufactures and markets thin film equipment aligned with global megatrends. The Company’s equipment is sold to make electronic devices including light emitting diodes (LEDs), flexible organic LED (OLED) displays, hard-disk drives, solar cells, power semiconductors and wireless components. The Company has two segments, LED and Solar and Data Storage. The LED and Solar segment includes metal organic chemical vapor deposition (MOCVD), molecular beam epitaxy (MBE) and atomic layer deposition (ALD) technology. It’s MOCVD and MBE systems and components enable the manufacture of LEDs. Its ALD technology is used by the manufacturers of OLED displays. The Data Storage segment designs and manufactures systems used to create thin film magnetic heads that read and write data on hard disk drives. These include ion beam etch, ion beam deposition, diamond-like carbon, physical vapor deposition, chemical vapor deposition, and slicing, dicing and lapping systems.

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