Vanguard Group Inc. Has $149.69 Million Stock Position in Veeco Instruments Inc. $VECO

Vanguard Group Inc. reduced its stake in Veeco Instruments Inc. (NASDAQ:VECO) by 0.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,454,821 shares of the semiconductor company’s stock after selling 22,439 shares during the quarter. Vanguard Group Inc. owned about 12.87% of Veeco Instruments worth $149,693,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Mackenzie Financial Corp lifted its stake in shares of Veeco Instruments by 6.1% in the fourth quarter. Mackenzie Financial Corp now owns 9,391 shares of the semiconductor company’s stock worth $252,000 after acquiring an additional 538 shares during the period. US Bancorp DE lifted its stake in shares of Veeco Instruments by 33.6% in the first quarter. US Bancorp DE now owns 3,366 shares of the semiconductor company’s stock worth $68,000 after acquiring an additional 847 shares during the period. Riverwater Partners LLC lifted its stake in shares of Veeco Instruments by 1.1% in the first quarter. Riverwater Partners LLC now owns 92,709 shares of the semiconductor company’s stock worth $1,862,000 after acquiring an additional 987 shares during the period. Versant Capital Management Inc increased its holdings in Veeco Instruments by 396.2% in the first quarter. Versant Capital Management Inc now owns 1,295 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 1,034 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Veeco Instruments by 3.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,609 shares of the semiconductor company’s stock worth $847,000 after purchasing an additional 1,067 shares in the last quarter. 98.46% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Veeco Instruments

In related news, SVP Adrian Devasahayam sold 11,010 shares of the company’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $20.50, for a total transaction of $225,705.00. Following the completion of the sale, the senior vice president owned 89,254 shares in the company, valued at approximately $1,829,707. This represents a 10.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on VECO shares. Needham & Company LLC lifted their target price on Veeco Instruments from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Benchmark lowered their target price on Veeco Instruments from $31.00 to $28.00 and set a “buy” rating for the company in a report on Thursday, August 7th. Barclays lowered their target price on Veeco Instruments from $22.00 to $21.00 and set an “equal weight” rating for the company in a report on Thursday, May 8th. Finally, The Goldman Sachs Group lowered their target price on Veeco Instruments from $27.00 to $20.00 and set a “neutral” rating for the company in a report on Friday, May 9th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Veeco Instruments presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.33.

Veeco Instruments Trading Down 1.6%

NASDAQ VECO opened at $23.90 on Thursday. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 23.43 and a beta of 1.12. Veeco Instruments Inc. has a 52 week low of $16.92 and a 52 week high of $38.56. The business has a 50 day moving average price of $21.45 and a 200-day moving average price of $21.08. The company has a quick ratio of 3.43, a current ratio of 5.10 and a debt-to-equity ratio of 0.26.

Veeco Instruments (NASDAQ:VECO) last announced its quarterly earnings results on Wednesday, August 6th. The semiconductor company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.14. Veeco Instruments had a return on equity of 7.38% and a net margin of 8.65%.The business had revenue of $166.10 million during the quarter, compared to the consensus estimate of $151.31 million. During the same quarter in the prior year, the company posted $0.42 earnings per share. Veeco Instruments’s revenue was down 5.6% compared to the same quarter last year. As a group, equities analysts expect that Veeco Instruments Inc. will post 0.76 earnings per share for the current fiscal year.

Veeco Instruments Company Profile

Veeco Instruments Inc, together with its subsidiaries, develops, manufactures, sells, and supports semiconductor and thin film process equipment primarily to make electronic devices in the United States, Europe, the Middle East, and Africa, China, Rest of the Asia-Pacific, and internationally. 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, advanced packaging lithography, atomic layer deposition, and other deposition systems.