Envestnet Asset Management Inc. Buys 18,554 Shares of Veeco Instruments Inc. $VECO

Envestnet Asset Management Inc. grew its stake in Veeco Instruments Inc. (NASDAQ:VECO) by 26.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,980 shares of the semiconductor company’s stock after buying an additional 18,554 shares during the period. Envestnet Asset Management Inc. owned approximately 0.15% of Veeco Instruments worth $2,738,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Smartleaf Asset Management LLC grew its position in Veeco Instruments by 75.6% in the second quarter. Smartleaf Asset Management LLC now owns 2,366 shares of the semiconductor company’s stock worth $49,000 after acquiring an additional 1,019 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in shares of Veeco Instruments by 49,728.6% in the 2nd quarter. Hantz Financial Services Inc. now owns 3,488 shares of the semiconductor company’s stock worth $71,000 after purchasing an additional 3,481 shares in the last quarter. CWM LLC increased its position in shares of Veeco Instruments by 329.7% during the 2nd quarter. CWM LLC now owns 4,632 shares of the semiconductor company’s stock valued at $94,000 after purchasing an additional 3,554 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Veeco Instruments by 152.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,160 shares of the semiconductor company’s stock valued at $125,000 after buying an additional 3,719 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Veeco Instruments by 9.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 6,421 shares of the semiconductor company’s stock worth $130,000 after buying an additional 580 shares during the last quarter. Hedge funds and other institutional investors own 98.46% of the company’s stock.

Analysts Set New Price Targets

VECO has been the topic of several research reports. Citigroup lifted their price target on shares of Veeco Instruments from $29.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Veeco Instruments in a research note on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $27.50.

Insider Buying and Selling at Veeco Instruments

In other news, CEO William John Miller sold 25,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $14,865,376. This represents a 5.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.40% of the company’s stock.

Veeco Instruments Trading Down 3.1%

NASDAQ:VECO opened at $28.46 on Thursday. The firm has a market capitalization of $1.72 billion, a P/E ratio of 34.29 and a beta of 1.19. The company has a quick ratio of 3.62, a current ratio of 5.36 and a debt-to-equity ratio of 0.26. The company has a fifty day moving average of $31.15 and a 200 day moving average of $29.22. Veeco Instruments Inc. has a 52 week low of $16.92 and a 52 week high of $35.77.

Veeco Instruments 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.