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Potential Price Increase for Veeco Instruments Inc (VECO) After Recent Insider Activity

Veeco Instruments Inc’s recently made public that its CEO Miller William John unloaded Company’s shares for reported $1.15 million on May 09 ’24. In the deal valued at $38.19 per share,30,000 shares were sold. As a result of this transaction, Miller William John now holds 515,091 shares worth roughly $19.58 million.

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Then, Miller William John sold 24,201 shares, generating $854,392 in total proceeds. Upon selling the shares at $35.30, the CEO now owns 545,091 shares.

Before that, Devasahayam Adrian sold 5,000 shares. Veeco Instruments Inc shares valued at $170,500 were divested by the SVP – PRODUCT LINE DEVELOPMENT at a price of $34.10 per share. As a result of the transaction, Devasahayam Adrian now holds 67,278 shares, worth roughly $2.56 million.

Citigroup initiated its Veeco Instruments Inc [VECO] rating to a Buy in a research note published on September 13, 2023; the price target was $35. A number of analysts have revised their coverage, including Needham’s analysts, who began to cover the stock in early September with a ‘”a Buy”‘ rating. Barclays also remained covering VECO and has decreased its forecast on January 23, 2023 with a “an Equal weight” recommendation from previously “an Overweight” rating. Northland Capital maintained its rating on December 28, 2021. It rated VECO as “an Outperform”.

Price Performance Review of VECO

On Friday, Veeco Instruments Inc [NASDAQ:VECO] saw its stock fall -0.16% to $38.01. Over the last five days, the stock has gained 4.51%. Veeco Instruments Inc shares have risen nearly 22.49% since the year began. Nevertheless, the stocks have risen 82.65% over the past one year. While a 52-week high of $40.30 was reached on 05/08/24, a 52-week low of $20.42 was recorded on 01/10/24. SMA at 50 days reached $35.43, while 200 days put it at $30.78. A total of 0.53 million shares were traded, compared to the trading of 0.67 million shares in the previous session.

Levels Of Support And Resistance For VECO Stock

The 24-hour chart illustrates a support level at 37.47, which if violated will result in even more drops to 36.93. On the upside, there is a resistance level at 38.51. A further resistance level may holdings at 39.01. The Relative Strength Index (RSI) on the 14-day chart is 60.45, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.36, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 30.98%. Stochastics %K at 76.34% indicates the stock is a holding.

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