Public Sector Pension Investment Board Increases Position in Veeco Instruments Inc. $VECO

Public Sector Pension Investment Board boosted its position in Veeco Instruments Inc. (NASDAQ:VECO) by 14.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 234,639 shares of the semiconductor company’s stock after acquiring an additional 30,268 shares during the period. Public Sector Pension Investment Board owned about 0.39% of Veeco Instruments worth $7,140,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Illinois Municipal Retirement Fund boosted its holdings in shares of Veeco Instruments by 10.1% during the third quarter. Illinois Municipal Retirement Fund now owns 30,389 shares of the semiconductor company’s stock worth $925,000 after purchasing an additional 2,790 shares during the last quarter. Cornerstone Investment Partners LLC lifted its position in Veeco Instruments by 43.5% during the third quarter. Cornerstone Investment Partners LLC now owns 20,513 shares of the semiconductor company’s stock worth $624,000 after buying an additional 6,220 shares during the period. Smartleaf Asset Management LLC lifted its position in Veeco Instruments by 26.8% during the third quarter. Smartleaf Asset Management LLC now owns 2,999 shares of the semiconductor company’s stock worth $91,000 after buying an additional 633 shares during the period. Old West Investment Management LLC boosted its stake in Veeco Instruments by 129.1% in the 3rd quarter. Old West Investment Management LLC now owns 67,632 shares of the semiconductor company’s stock worth $2,058,000 after buying an additional 38,114 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in Veeco Instruments by 26.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 89,980 shares of the semiconductor company’s stock valued at $2,738,000 after buying an additional 18,554 shares during the period. 98.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Veeco Instruments

In related news, CEO William John Miller sold 25,000 shares of the company’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $32.00, for a total transaction of $800,000.00. Following the completion of the sale, the chief executive officer directly owned 464,543 shares of the company’s stock, valued at approximately $14,865,376. This represents a 5.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.30% of the company’s stock.

Veeco Instruments Price Performance

VECO opened at $34.35 on Wednesday. The company has a quick ratio of 3.62, a current ratio of 5.36 and a debt-to-equity ratio of 0.26. Veeco Instruments Inc. has a 52-week low of $16.92 and a 52-week high of $35.77. The company has a 50 day moving average of $31.38 and a two-hundred day moving average of $28.96. The company has a market cap of $2.07 billion, a P/E ratio of 41.39 and a beta of 1.19.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Veeco Instruments in a report on Wednesday, January 21st. Citigroup upped their price target on shares of Veeco Instruments from $29.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $27.50.

Veeco Instruments Company Profile

Veeco Instruments Inc (NASDAQ: VECO) is a leading supplier of process equipment for the semiconductor, data storage, wireless communications, power electronics and advanced packaging industries. The company designs, manufactures and services precision tools used to grow, deposit and etch thin films on substrates, enabling the fabrication of chips, light-emitting diodes (LEDs), micro-electromechanical systems (MEMS) and high-density storage devices. Veeco’s platforms are deployed across fabrication facilities worldwide, where they support key processes in materials science and device manufacturing.

Veeco’s product portfolio spans molecular beam epitaxy (MBE), metal organic chemical vapor deposition (MOCVD), atomic layer deposition (ALD), ion beam etch and deposition, and high-precision wet and dry etch systems.