UBS Asset Management Americas Inc. increased its stake in Veeco Instruments Inc. (NASDAQ:VECO) by 89.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 large investors also recently bought and sold shares of the company. Pinnacle Advisory Group Inc. raised its stake in Veeco Instruments by 7.4% in the first quarter. Pinnacle Advisory Group Inc. now owns 279,217 shares of the semiconductor company’s stock valued at $8,335,000 after buying an additional 19,290 shares during the period. Candriam Luxembourg S.C.A. raised its stake in Veeco Instruments by 109.1% in the first quarter. Candriam Luxembourg S.C.A. now owns 108,283 shares of the semiconductor company’s stock valued at $3,232,000 after buying an additional 56,486 shares during the period. State of Alaska Department of Revenue raised its stake in Veeco Instruments by 1.8% in the first quarter. State of Alaska Department of Revenue now owns 4,480 shares of the semiconductor company’s stock valued at $133,000 after buying an additional 80 shares during the period. Columbus Circle Investors bought a new stake in Veeco Instruments during the first quarter valued at approximately $1,006,000. Finally, Louisiana State Employees Retirement System raised its stake in Veeco Instruments by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 16,500 shares of the semiconductor company’s stock valued at $493,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 88.62% of the company’s stock.
Veeco Instruments Inc. (VECO) traded down 1.33% on Friday, hitting $18.60. 520,957 shares of the company’s stock traded hands. The stock’s market cap is $900.61 million. Veeco Instruments Inc. has a one year low of $18.35 and a one year high of $34.38. The stock has a 50-day moving average of $27.30 and a 200-day moving average of $29.02.
Veeco Instruments (NASDAQ:VECO) last released its earnings results on Thursday, August 3rd. The semiconductor company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.03. The business had revenue of $115.07 million during the quarter, compared to analysts’ expectations of $110.87 million. Veeco Instruments had a negative net margin of 23.65% and a negative return on equity of 1.33%. The company’s quarterly revenue was up 52.7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.19) earnings per share. On average, equities analysts forecast that Veeco Instruments Inc. will post $0.50 earnings per share for the current fiscal year.
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Several research firms have recently commented on VECO. Stifel Nicolaus restated a “buy” rating and issued a $38.00 price objective (up from $36.00) on shares of Veeco Instruments in a research note on Friday, July 21st. Zacks Investment Research lowered Veeco Instruments from a “hold” rating to a “sell” rating in a research note on Saturday, July 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $36.00 price target (up previously from $30.00) on shares of Veeco Instruments in a research note on Monday, April 24th. BidaskClub upgraded Veeco Instruments from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. Finally, Benchmark Co. reiterated a “buy” rating and issued a $39.00 price target on shares of Veeco Instruments in a research note on Friday, April 21st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $33.50.
In other news, Director Peter J. Simone sold 4,257 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $31.91, for a total transaction of $135,840.87. Following the completion of the sale, the director now owns 24,332 shares of the company’s stock, valued at $776,434.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.90% of the stock is owned by insiders.
About Veeco Instruments
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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