Janney Montgomery Scott LLC increased its position in shares of Veeco Instruments Inc. (NASDAQ:VECO) by 1.6% during the second quarter, Holdings Channel reports. The fund owned 22,912 shares of the semiconductor company’s stock after buying an additional 370 shares during the period. Janney Montgomery Scott LLC’s holdings in Veeco Instruments were worth $638,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Creative Planning boosted its position in Veeco Instruments by 3.4% in the first quarter. Creative Planning now owns 3,624 shares of the semiconductor company’s stock worth $108,000 after buying an additional 120 shares during the last quarter. FNY Partners Fund LP bought a new position in Veeco Instruments during the first quarter worth $126,000. State of Alaska Department of Revenue boosted its position 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 worth $133,000 after buying an additional 80 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Veeco Instruments by 2,768.5% in the second quarter. Nisa Investment Advisors LLC now owns 5,737 shares of the semiconductor company’s stock worth $160,000 after buying an additional 5,537 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in Veeco Instruments by 4.8% in the second quarter. Bank of Montreal Can now owns 5,771 shares of the semiconductor company’s stock worth $161,000 after buying an additional 265 shares during the last quarter. Hedge funds and other institutional investors own 88.62% of the company’s stock.
Shares of Veeco Instruments Inc. (NASDAQ:VECO) opened at 19.60 on Thursday. The company’s 50 day moving average is $27.83 and its 200-day moving average is $29.15. The stock’s market capitalization is $949.03 million. Veeco Instruments Inc. has a 52 week low of $18.60 and a 52 week high of $34.38.
Veeco Instruments (NASDAQ:VECO) last announced its earnings results on Thursday, August 3rd. The semiconductor company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.03. The company had revenue of $115.07 million during the quarter, compared to analyst estimates of $110.87 million. Veeco Instruments had a negative net margin of 23.65% and a negative return on equity of 1.33%. The firm’s quarterly revenue was up 52.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.19) earnings per share. On average, equities analysts predict that Veeco Instruments Inc. will post $0.50 earnings per share for the current year.
A number of research firms have weighed in on VECO. Stifel Nicolaus reiterated a “buy” rating and issued a $36.00 target price on shares of Veeco Instruments in a research note on Sunday, April 23rd. Zacks Investment Research cut shares of Veeco Instruments from a “buy” rating to a “hold” rating in a research note on Thursday, April 20th. BidaskClub upgraded shares of Veeco Instruments from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. Needham & Company LLC reiterated a “buy” rating and issued a $36.00 target price (up from $30.00) on shares of Veeco Instruments in a research note on Monday, April 24th. Finally, Deutsche Bank AG cut shares of Veeco Instruments from a “buy” rating to a “hold” rating and dropped their target price for the company from $35.00 to $30.00 in a research note on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. Veeco Instruments currently has a consensus rating of “Hold” and a consensus target price of $33.78.
In related news, Director Peter J. Simone sold 4,257 shares of the business’s stock in a transaction that occurred on 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 directly owns 24,332 shares in the company, valued at $776,434.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President William John Miller sold 8,481 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $31.51, for a total transaction of $267,236.31. Following the sale, the president now owns 69,792 shares of the company’s stock, valued at $2,199,145.92. 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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