Veeco Instruments Inc. (NASDAQ:VECO) Director Buys $54,000.00 in Stock

Veeco Instruments Inc. (NASDAQ:VECOGet Rating) Director Dennis Thomas St purchased 2,500 shares of the stock in a transaction that occurred on Monday, May 16th. The shares were purchased at an average price of $21.60 per share, with a total value of $54,000.00. Following the completion of the acquisition, the director now directly owns 52,429 shares in the company, valued at $1,132,466.40. The purchase was disclosed in a filing with the SEC, which is available through this link.

NASDAQ VECO opened at $22.42 on Wednesday. Veeco Instruments Inc. has a 12 month low of $18.68 and a 12 month high of $32.40. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 32.97 and a beta of 1.35. The company’s 50 day moving average is $25.33 and its two-hundred day moving average is $26.71. The company has a current ratio of 2.58, a quick ratio of 1.77 and a debt-to-equity ratio of 0.63.

Veeco Instruments (NASDAQ:VECOGet Rating) last released its quarterly earnings data on Monday, May 9th. The semiconductor company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.02. The firm had revenue of $156.30 million for the quarter, compared to analysts’ expectations of $154.95 million. Veeco Instruments had a net margin of 6.09% and a return on equity of 15.58%. The company’s revenue for the quarter was up 16.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 earnings per share. Sell-side analysts forecast that Veeco Instruments Inc. will post 1.38 EPS for the current year.

Several research analysts have commented on the stock. StockNews.com assumed coverage on shares of Veeco Instruments in a report on Thursday, March 31st. They issued a “hold” rating for the company. Oppenheimer decreased their price objective on shares of Veeco Instruments from $40.00 to $35.00 in a report on Thursday, May 5th. Finally, Zacks Investment Research upgraded shares of Veeco Instruments from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Wednesday, April 20th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Veeco Instruments has an average rating of “Buy” and a consensus price target of $32.14.

Several institutional investors have recently added to or reduced their stakes in VECO. Wasatch Advisors Inc. raised its position in shares of Veeco Instruments by 118.6% during the third quarter. Wasatch Advisors Inc. now owns 1,871,082 shares of the semiconductor company’s stock valued at $41,557,000 after buying an additional 1,015,252 shares during the last quarter. Invesco Ltd. raised its position in shares of Veeco Instruments by 22.6% during the first quarter. Invesco Ltd. now owns 5,364,379 shares of the semiconductor company’s stock valued at $145,858,000 after buying an additional 988,143 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Veeco Instruments by 1,006.5% in the first quarter. Victory Capital Management Inc. now owns 741,567 shares of the semiconductor company’s stock valued at $20,031,000 after purchasing an additional 674,550 shares in the last quarter. Braun Stacey Associates Inc. purchased a new position in shares of Veeco Instruments in the first quarter valued at $14,012,000. Finally, Lisanti Capital Growth LLC purchased a new position in shares of Veeco Instruments in the first quarter valued at $11,005,000. Hedge funds and other institutional investors own 97.66% of the company’s stock.

Veeco Instruments Company Profile (Get Rating)

Veeco Instruments Inc, together with its subsidiaries, develops, manufactures, sells, and supports semiconductor and thin film process equipment primarily to make electronic devices worldwide. The company offers laser annealing, ion beam deposition and etch, metal organic chemical vapor deposition, single wafer wet processing and surface preparation, molecular beam epitaxy, and atomic layer deposition and other deposition systems, as well as packaging lithography equipment.

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