Baillie Gifford & Co. Grows Stake in Veeco Instruments Inc. (VECO)

Baillie Gifford & Co. lifted its holdings in Veeco Instruments Inc. (NASDAQ:VECO) by 15.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,497,372 shares of the semiconductor company’s stock after acquiring an additional 205,958 shares during the quarter. Baillie Gifford & Co.’s holdings in Veeco Instruments were worth $15,348,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Veeco Instruments during the second quarter valued at $147,000. Trexquant Investment LP acquired a new stake in Veeco Instruments during the second quarter valued at $201,000. Russell Investments Group Ltd. grew its position in Veeco Instruments by 443.6% during the third quarter. Russell Investments Group Ltd. now owns 21,200 shares of the semiconductor company’s stock valued at $217,000 after buying an additional 17,300 shares during the period. GSA Capital Partners LLP acquired a new stake in Veeco Instruments during the second quarter valued at $257,000. Finally, Alambic Investment Management L.P. acquired a new stake in Veeco Instruments during the second quarter valued at $272,000. Hedge funds and other institutional investors own 87.68% of the company’s stock.

Several analysts recently commented on the stock. Zacks Investment Research lowered shares of Veeco Instruments from a “buy” rating to a “hold” rating in a research report on Thursday, October 25th. ValuEngine upgraded shares of Veeco Instruments from a “strong sell” rating to a “sell” rating in a research report on Tuesday, November 6th. BidaskClub lowered shares of Veeco Instruments from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 8th. Finally, Benchmark restated a “hold” rating on shares of Veeco Instruments in a research report on Wednesday, September 5th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. Veeco Instruments currently has a consensus rating of “Hold” and a consensus price target of $24.00.

VECO stock opened at $8.76 on Friday. The firm has a market cap of $415.32 million, a P/E ratio of -438.00 and a beta of 0.69. The company has a current ratio of 3.15, a quick ratio of 2.28 and a debt-to-equity ratio of 0.49. Veeco Instruments Inc. has a one year low of $6.61 and a one year high of $20.55.

Veeco Instruments (NASDAQ:VECO) last announced its earnings results on Thursday, November 1st. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.03. Veeco Instruments had a negative net margin of 45.70% and a positive return on equity of 1.93%. The business had revenue of $126.76 million for the quarter, compared to analyst estimates of $135.50 million. During the same quarter last year, the business earned $0.09 earnings per share. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. Research analysts predict that Veeco Instruments Inc. will post -0.01 earnings per share for the current year.

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Veeco Instruments Company Profile

Veeco Instruments Inc, together with its subsidiaries, develops, manufactures, sells, and supports semiconductor process equipment worldwide. It offers metal organic chemical vapor deposition systems; packaging lithography equipment; precision surface processing systems; laser annealing systems; ion beam etch and deposition systems; molecular beam epitaxy systems; 3D wafer inspection systems; and atomic layer deposition and other deposition systems.

Further Reading: Hedge Funds – How They Work For Investors

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Institutional Ownership by Quarter for Veeco Instruments (NASDAQ:VECO)

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