Veeco Instruments Inc. $VECO Shares Sold by Andra AP fonden

Andra AP fonden reduced its stake in Veeco Instruments Inc. (NASDAQ:VECO) by 67.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 17,839 shares of the semiconductor company’s stock after selling 37,200 shares during the quarter. Andra AP fonden’s holdings in Veeco Instruments were worth $543,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its position in Veeco Instruments by 7.4% in the third quarter. PNC Financial Services Group Inc. now owns 5,111 shares of the semiconductor company’s stock valued at $156,000 after purchasing an additional 350 shares during the period. CWM LLC grew its stake in shares of Veeco Instruments by 7.6% in the third quarter. CWM LLC now owns 4,985 shares of the semiconductor company’s stock valued at $152,000 after buying an additional 353 shares in the last quarter. Amalgamated Bank raised its holdings in shares of Veeco Instruments by 3.2% in the 2nd quarter. Amalgamated Bank now owns 16,926 shares of the semiconductor company’s stock valued at $344,000 after buying an additional 531 shares during the period. Russell Investments Group Ltd. lifted its stake in Veeco Instruments by 9.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 6,421 shares of the semiconductor company’s stock worth $130,000 after acquiring an additional 580 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in Veeco Instruments by 26.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 2,999 shares of the semiconductor company’s stock worth $91,000 after acquiring an additional 633 shares in the last quarter. Institutional investors and hedge funds own 98.46% of the company’s stock.

Analyst Upgrades and Downgrades

VECO has been the subject of several research reports. Weiss Ratings reaffirmed 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 report on Thursday. Finally, Citigroup upped their price objective on Veeco Instruments from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $28.17.

Veeco Instruments Price Performance

Shares of VECO opened at $30.56 on Monday. Veeco Instruments Inc. has a twelve month low of $16.92 and a twelve month high of $35.77. The firm’s fifty day simple moving average is $31.21 and its 200-day simple moving average is $29.35. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 51.80 and a beta of 1.17. The company has a current ratio of 4.75, a quick ratio of 3.20 and a debt-to-equity ratio of 0.26.

Insider Transactions at Veeco Instruments

In other news, CEO William John Miller sold 25,000 shares of the company’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $32.00, for a total transaction of $800,000.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.30% of the stock is owned by company insiders.

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.