Evergreen Capital Management LLC Acquires New Stake in Veeco Instruments Inc. $VECO

Evergreen Capital Management LLC acquired a new stake in shares of Veeco Instruments Inc. (NASDAQ:VECO) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 17,298 shares of the semiconductor company’s stock, valued at approximately $494,000.

A number of other hedge funds have also recently bought and sold shares of VECO. Royal Bank of Canada boosted its position in Veeco Instruments by 29.6% during the first quarter. Royal Bank of Canada now owns 134,088 shares of the semiconductor company’s stock worth $2,692,000 after acquiring an additional 30,646 shares during the last quarter. AQR Capital Management LLC boosted its position in Veeco Instruments by 51.5% during the first quarter. AQR Capital Management LLC now owns 29,785 shares of the semiconductor company’s stock worth $598,000 after acquiring an additional 10,122 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Veeco Instruments by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,043 shares of the semiconductor company’s stock worth $664,000 after acquiring an additional 1,434 shares during the last quarter. Millennium Management LLC boosted its position in Veeco Instruments by 148.0% during the first quarter. Millennium Management LLC now owns 474,415 shares of the semiconductor company’s stock worth $9,526,000 after acquiring an additional 283,099 shares during the last quarter. Finally, Woodline Partners LP acquired a new stake in Veeco Instruments during the first quarter worth approximately $618,000. Institutional investors and hedge funds own 98.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Veeco Instruments in a research report on Wednesday, January 21st. Needham & Company LLC reissued a “hold” rating on shares of Veeco Instruments in a research note on Thursday, February 26th. Zacks Research raised Veeco Instruments from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 2nd. Finally, Citigroup raised their price target 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 equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $28.17.

Insider Buying and Selling at Veeco Instruments

In other Veeco Instruments news, CEO William John Miller sold 50,000 shares of Veeco Instruments stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $31.62, for a total value of $1,581,000.00. Following the transaction, the chief executive officer owned 414,543 shares in the company, valued at $13,107,849.66. This trade represents a 10.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.70% of the stock is currently owned by company insiders.

Veeco Instruments Price Performance

Shares of VECO opened at $51.73 on Monday. The firm has a market cap of $3.12 billion, a PE ratio of 87.68 and a beta of 1.11. The company’s fifty day moving average is $35.25 and its two-hundred day moving average is $32.07. Veeco Instruments Inc. has a fifty-two week low of $18.23 and a fifty-two week high of $53.43. The company has a quick ratio of 3.20, a current ratio of 4.75 and a debt-to-equity ratio of 0.26.

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.