Veeco Instruments Inc. (NASDAQ:VECO) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. increased its stake in Veeco Instruments Inc. (NASDAQ:VECO – Get Rating) by 18.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 884,222 shares of the semiconductor company’s stock after acquiring an additional 137,746 shares during the period. Victory Capital Management Inc. owned approximately 1.72% of Veeco Instruments worth $16,457,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Advisor Group Holdings Inc. raised its holdings in Veeco Instruments by 315.4% in the first quarter. Advisor Group Holdings Inc. now owns 4,644 shares of the semiconductor company’s stock valued at $126,000 after buying an additional 3,526 shares during the period. Bank of New York Mellon Corp raised its holdings in Veeco Instruments by 5.9% in the first quarter. Bank of New York Mellon Corp now owns 520,086 shares of the semiconductor company’s stock valued at $14,139,000 after buying an additional 29,035 shares during the period. American Century Companies Inc. purchased a new position in Veeco Instruments in the first quarter valued at approximately $815,000. Citigroup Inc. raised its holdings in Veeco Instruments by 8.9% in the first quarter. Citigroup Inc. now owns 53,649 shares of the semiconductor company’s stock valued at $1,459,000 after buying an additional 4,403 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in Veeco Instruments by 48.7% in the first quarter. PNC Financial Services Group Inc. now owns 4,558 shares of the semiconductor company’s stock valued at $124,000 after buying an additional 1,492 shares during the period.

Veeco Instruments Stock Up 0.8 %

VECO stock opened at $23.01 on Tuesday. Veeco Instruments Inc. has a twelve month low of $16.11 and a twelve month high of $23.92. The company has a current ratio of 2.41, a quick ratio of 1.56 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $1.19 billion, a P/E ratio of 8.78 and a beta of 1.27. The firm has a 50 day simple moving average of $20.15 and a 200-day simple moving average of $19.95.

Analyst Ratings Changes

Several research firms recently commented on VECO. Benchmark raised their price target on shares of Veeco Instruments from $26.00 to $28.00 in a report on Tuesday, May 9th. Barclays lowered shares of Veeco Instruments from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $19.00 to $20.00 in a research note on Monday, January 23rd. StockNews.com started coverage on shares of Veeco Instruments in a research note on Thursday, May 18th. They set a “buy” rating on the stock. Finally, Northland Securities lifted their price objective on shares of Veeco Instruments from $30.00 to $32.00 in a research note on Tuesday, May 9th. Two 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 a consensus rating of “Moderate Buy” and a consensus price target of $24.60.

About Veeco Instruments

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Veeco Instruments, Inc engages in the development, manufacture, sale and support of semiconductor process equipment. Its technologies consists of metal organic chemical vapor deposition, advanced packaging lithography, wet etch and clean, laser annealing, ion beam, molecular beam epitaxy, wafer inspection, and atomic layer deposition systems.