Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Veeco Instruments Inc shares valued at $854,392 were sold by Miller William John on Mar 21 ’24. At $35.30 per share, Miller William John sold 24,201 shares. The insider’s holdings dropped to 545,091 shares worth approximately $18.34 million following the completion of this transaction.
Also, Devasahayam Adrian sold 5,000 shares, netting a total of over 170,500 in proceeds. Following the sale of shares at $34.10 each, the insider now holds 67,278 shares.
Before that, Wilkerson Susan had sold 2,519 shares from its account. In a trade valued at $87,006, the SVP, GLOBAL SALES & SERVICE traded Veeco Instruments Inc shares for $34.54 each. Upon closing the transaction, the insider’s holdings decreased to 2,519 shares, worth approximately $1.4 million.
As published in their initiating research note from Citigroup on September 13, 2023, Veeco Instruments Inc [VECO] has been a Buy and the price target has been revised to $35. Analysts at Needham started covering the stock with ‘”a Buy”‘ outlook in a report released in early September. As of January 23, 2023, Barclays has decreased its “an Overweight” rating to a “an Equal weight” for VECO. Earlier on December 28, 2021, Northland Capital resumed its rating. Their recommendation was “an Outperform” for VECO stock.
Analyzing VECO Stock Performance
During the last five days, there has been a drop of approximately -10.05%. Over the course of the year, Veeco Instruments Inc shares have jumped approximately 8.44%. Shares of the company reached a 52-week high of $37.75 on 03/01/24 and a 52-week low of $27.51 on 01/10/24. A 50-day SMA is recorded $35.09, while a 200-day SMA reached $29.97. Nevertheless, trading volume fell to 0.53 million shares from 0.32 million shares the previous day.
Support And Resistance Levels for Veeco Instruments Inc (VECO)
According to the 24-hour chart, there is a support level at 33.35, which, if violated, would cause prices to drop to 33.06. In the upper region, resistance lies at 34.21. The next price resistance is at 34.78. RSI (Relative Strength Index) is 42.12 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.70, which suggests the price will decrease in the coming days. Percent R is at 99.26%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
