Veeco Instruments Is Riding the AI Wave

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In addition to producing process equipment for many types of electronic devices, Veeco provides specialized packaging for high-bandwidth AI chips and is seeing AI-related orders increase globally. The company is a smaller, but growing player in the industry. It reported revenue growth of 13.1% to end 2023 along with a 12.4% net margin.

It’s no wonder VECO shares are up 50% this year – and they could rise more. MAPsignals data shows how Big Money investors are betting heavily on the forward picture of the stock.

Big Money Picking Up Veeco Shares

Institutional volumes reveal plenty. In the last year, VECO has enjoyed strong investor demand, which we believe to be institutional support.

Each green bar signals unusually large volumes in VECO shares. They reflect our proprietary inflow signal, pushing the stock higher:

Source: www.mapsignals.com

Plenty of technology names are under accumulation right now. But there’s a powerful fundamental story happening with Veeco.

Veeco Fundamental Analysis

Institutional support and a healthy fundamental backdrop make this company worth investigating. As you can see, VECO has had strong sales and earnings growth:

  • 3-year sales growth rate (+14.1%)
  • 3-year EPS growth rate (+206.8%)

Source: FactSet

Also, EPS is estimated to ramp higher this year by +17.3%.

Now it makes sense why the stock has been powering to new heights. VECO has a track record of strong financial performance.

Marrying great fundamentals with our proprietary software has found some big winning stocks over the long term.

Veeco has been a top-rated stock at MAPsignals. That means the stock has unusual buy pressure and growing fundamentals. We have a ranking process that showcases stocks like this on a weekly basis.

It’s made the rare Top 20 report multiple times in the last year. The blue bars below show when VECO was a top pick…generating value along the way:

Source: www.mapsignals.com

Tracking unusual volumes reveals the power of money flows.

This is a trait that most outlier stocks exhibit…the best of the best. Big Money demand drives stocks upward.

Veeco Price Prediction

The VECO rally isn’t new at all. Big Money buying in the shares is signaling to take notice. Given the historical gains in share price and strong fundamentals, this stock could be worth a spot in a diversified portfolio.

Disclosure: the author holds no position in VECO at the time of publication.

If you are a Registered Investment Advisor (RIA) or are a serious investor, take your investing to the next level, learn more about the MAPsignals process here.

This article was originally posted on FX Empire

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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