UBS Asset Management Americas Inc. increased its position in shares of Veeco Instruments Inc. (NASDAQ:VECO) by 89.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,895 shares of the semiconductor company’s stock after buying an additional 7,996 shares during the period. UBS Asset Management Americas Inc.’s holdings in Veeco Instruments were worth $504,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new position in Veeco Instruments during the fourth quarter valued at $1,586,000. State Street Corp increased its stake in shares of Veeco Instruments by 9.9% in the fourth quarter. State Street Corp now owns 871,543 shares of the semiconductor company’s stock valued at $25,404,000 after buying an additional 78,545 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Veeco Instruments by 4.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 21,850 shares of the semiconductor company’s stock valued at $637,000 after buying an additional 990 shares in the last quarter. Norges Bank purchased a new stake in shares of Veeco Instruments during the fourth quarter valued at approximately $1,731,000. Finally, USA Financial Portformulas Corp purchased a new stake in shares of Veeco Instruments during the fourth quarter valued at approximately $526,000. Institutional investors own 87.07% of the company’s stock.
Shares of Veeco Instruments Inc. (VECO) opened at 20.55 on Friday. The stock’s market capitalization is $995.03 million. Veeco Instruments Inc. has a 52 week low of $18.60 and a 52 week high of $34.38. The company has a 50-day moving average of $28.64 and a 200-day moving average of $29.29.
Veeco Instruments (NASDAQ:VECO) last issued its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported ($0.07) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.03. The firm had revenue of $115.07 million for the quarter, compared to analyst estimates of $110.87 million. Veeco Instruments had a negative return on equity of 1.33% and a negative net margin of 23.65%. The business’s revenue was up 52.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.19) earnings per share. On average, analysts anticipate that Veeco Instruments Inc. will post $0.53 EPS for the current year.
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Several analysts have recently commented on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $36.00 target price on shares of Veeco Instruments in a report on Sunday, April 23rd. Zacks Investment Research lowered shares of Veeco Instruments from a “buy” rating to a “hold” rating in a research report on Thursday, April 20th. BidaskClub upgraded shares of Veeco Instruments from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Needham & Company LLC reiterated a “buy” rating and set a $36.00 target price (up previously from $30.00) on shares of Veeco Instruments in a research report on Monday, April 24th. Finally, Deutsche Bank AG lowered shares of Veeco Instruments from a “buy” rating to a “hold” rating and cut their target price for the stock from $35.00 to $30.00 in a research report on Friday, August 4th. Two analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $33.78.
In other Veeco Instruments news, President William John Miller sold 8,481 shares of the business’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $31.51, for a total transaction of $267,236.31. Following the transaction, the president now owns 69,792 shares of the company’s stock, valued at $2,199,145.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter J. Simone sold 4,257 shares of the business’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $31.91, for a total value of $135,840.87. Following the transaction, the director now directly owns 24,332 shares in the company, valued at approximately $776,434.12. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.
Veeco Instruments Company Profile
Veeco Instruments Inc is engaged in the design, development, manufacture and support of thin film process equipment, primarily sold to make electronic devices. The Company’s geographical segments include the United States; China; Europe, Middle East and Africa (EMEA), and Rest of World (ROW). The Company’s portfolio of technology solutions focus on market areas, including Lighting, Display & Power Electronics; Advanced Packaging, micro-electromechanical systems (MEMS) & radio frequency (RF); Scientific & Industrial, and Data Storage.
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