Veeco Instruments (NASDAQ:VECO) CEO Sells $1,581,000.00 in Stock

Veeco Instruments Inc. (NASDAQ:VECO) CEO William John Miller sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $31.62, for a total transaction of $1,581,000.00. Following the completion of the transaction, the chief executive officer directly owned 414,543 shares in the company, valued at approximately $13,107,849.66. The trade was a 10.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

William John Miller also recently made the following trade(s):

• On Friday, December 5th, William John Miller sold 25,000 shares of Veeco Instruments stock. The shares were sold at an average price of $32.00, for a total transaction of $800,000.00.

Veeco Instruments Stock Down 4.8%

Shares of VECO stock opened at $30.30 on Friday. The company has a current ratio of 4.75, a quick ratio of 3.20 and a debt-to-equity ratio of 0.26. Veeco Instruments Inc. has a 12 month low of $16.92 and a 12 month high of $35.77. The stock has a market cap of $1.83 billion, a P/E ratio of 51.36 and a beta of 1.17. The company has a 50 day simple moving average of $31.47 and a two-hundred day simple moving average of $29.58.

Analyst Ratings Changes

A number of brokerages recently commented on VECO. Needham & Company LLC reaffirmed a “hold” rating on shares of Veeco Instruments in a report on Thursday, February 26th. Zacks Research raised Veeco Instruments from a “hold” rating to a “strong-buy” rating in a report on Monday, March 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Veeco Instruments in a research report on Wednesday, January 21st. Finally, Citigroup raised their price objective on Veeco Instruments from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Veeco Instruments presently has an average rating of “Moderate Buy” and an average target price of $28.17.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its holdings in Veeco Instruments by 75.6% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,366 shares of the semiconductor company’s stock worth $49,000 after buying an additional 1,019 shares during the period. Hantz Financial Services Inc. increased its stake in 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 buying an additional 3,481 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Veeco Instruments during the fourth quarter valued at about $77,000. Johnson Financial Group Inc. purchased a new position in shares of Veeco Instruments in the third quarter valued at about $91,000. Finally, Global Retirement Partners LLC lifted its position in shares of Veeco Instruments by 16,961.9% in the fourth quarter. Global Retirement Partners LLC now owns 3,583 shares of the semiconductor company’s stock valued at $102,000 after acquiring an additional 3,562 shares in the last quarter. Hedge funds and other institutional investors own 98.46% of the company’s stock.

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.