Yahoo Finance Insider Sale: Director Dennis St Sells 4,000 Shares of Veeco Instruments Inc (VECO)
On May 13, 2024, Dennis St, Director at Veeco Instruments Inc (NASDAQ:VECO), executed a sale of 4,000 shares of the company. The transaction was filed on May 14, 2024, as reported in the SEC Filing. The shares were sold at a price of $37.72 each, totaling $150,880.
Veeco Instruments Inc (NASDAQ:VECO) specializes in the manufacture of semiconductor and thin film process equipment. The company's technology solutions are used in a variety of applications, including LED lighting, flexible OLED displays, and various coating processes.
Over the past year, the insider, Dennis St, has sold a total of 11,005 shares of Veeco Instruments Inc and has not made any purchases. This recent transaction follows a pattern observed over the last year, where there have been 17 insider sells and no insider buys.
The shares of Veeco Instruments Inc were trading at $37.72 on the day of the sale, giving the company a market cap of approximately $2.20 billion. According to the GF Value, the intrinsic value estimate for the stock is $28.32, which suggests that the stock is significantly overvalued with a price-to-GF-Value ratio of 1.33.
The GF Value is calculated based on historical multiples such as price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, along with a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
This insider sale might interest investors tracking insider behaviors, especially in the context of the company's current valuation and stock performance.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
