Veeco Instruments Inc. $VECO Shares Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue raised its holdings in Veeco Instruments Inc. (NASDAQ:VECO) by 11.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,688 shares of the semiconductor company’s stock after acquiring an additional 3,587 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of Veeco Instruments worth $724,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new stake in Veeco Instruments in the 1st quarter valued at about $37,000. Signaturefd LLC raised its holdings in Veeco Instruments by 213.9% during the 1st quarter. Signaturefd LLC now owns 3,139 shares of the semiconductor company’s stock worth $63,000 after buying an additional 2,139 shares during the period. US Bancorp DE raised its holdings in Veeco Instruments by 33.6% during the 1st quarter. US Bancorp DE now owns 3,366 shares of the semiconductor company’s stock worth $68,000 after buying an additional 847 shares during the period. KBC Group NV raised its holdings in Veeco Instruments by 75.9% during the 1st quarter. KBC Group NV now owns 3,672 shares of the semiconductor company’s stock worth $74,000 after buying an additional 1,584 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in Veeco Instruments by 46.3% during the 1st quarter. Russell Investments Group Ltd. now owns 5,841 shares of the semiconductor company’s stock worth $117,000 after buying an additional 1,849 shares during the period. 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 4,046 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $26.00, for a total value of $105,196.00. Following the transaction, the senior vice president owned 86,134 shares in the company, valued at approximately $2,239,484. This represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William John Miller sold 25,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $32.00, for a total value of $800,000.00. Following the completion of the transaction, the chief executive officer owned 514,543 shares in the company, valued at $16,465,376. This represents a 4.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 61,911 shares of company stock worth $1,781,550 in the last quarter. 2.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have issued reports on VECO. Weiss Ratings restated a “hold (c)” rating on shares of Veeco Instruments in a report on Saturday, September 27th. Northland Securities downgraded Veeco Instruments from an “outperform” rating to a “market perform” rating and set a $30.00 price objective on the stock. in a report on Tuesday. Benchmark cut their price objective on Veeco Instruments from $31.00 to $28.00 and set a “buy” rating on the stock in a report on Thursday, August 7th. Finally, Needham & Company LLC downgraded Veeco Instruments from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $27.71.

Veeco Instruments Price Performance

Shares of VECO opened at $29.60 on Wednesday. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 29.02 and a beta of 1.27. Veeco Instruments Inc. has a fifty-two week low of $16.92 and a fifty-two week high of $34.45. The company has a debt-to-equity ratio of 0.26, a current ratio of 5.10 and a quick ratio of 3.43. The business’s 50-day moving average is $25.71 and its 200-day moving average is $22.03.

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

About Veeco Instruments

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.