First Trust Advisors LP Has $2.17 Million Stake in Veeco Instruments Inc. (VECO)

First Trust Advisors LP grew its stake in shares of Veeco Instruments Inc. (NASDAQ:VECO) by 115.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 77,922 shares of the semiconductor company’s stock after buying an additional 41,742 shares during the period. First Trust Advisors LP owned 0.19% of Veeco Instruments worth $2,170,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in VECO. Teachers Advisors LLC increased its position in shares of Veeco Instruments by 3.7% during the fourth quarter. Teachers Advisors LLC now owns 65,317 shares of the semiconductor company’s stock valued at $1,904,000 after buying an additional 2,349 shares during the period. Creative Planning increased its position in shares of Veeco Instruments by 3.4% during the first quarter. Creative Planning now owns 3,624 shares of the semiconductor company’s stock valued at $108,000 after buying an additional 120 shares during the period. Bank of Montreal Can increased its position in shares of Veeco Instruments by 7.6% during the first quarter. Bank of Montreal Can now owns 5,506 shares of the semiconductor company’s stock valued at $165,000 after buying an additional 391 shares during the period. Louisiana State Employees Retirement System increased its position in shares of Veeco Instruments by 1.2% during 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. Finally, State of Alaska Department of Revenue increased its position in shares of Veeco Instruments by 1.8% during 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. Hedge funds and other institutional investors own 96.16% of the company’s stock.

Several brokerages have recently weighed in on VECO. Stifel Nicolaus reiterated a “buy” rating and set a $38.00 price target (up from $36.00) on shares of Veeco Instruments in a research report on Friday, July 21st. Zacks Investment Research cut Veeco Instruments from a “hold” rating to a “sell” rating in a research report on Saturday, July 22nd. BidaskClub upgraded Veeco Instruments from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. J P Morgan Chase & Co upgraded Veeco Instruments from a “neutral” rating to an “overweight” rating and upped their price target for the company from $35.00 to $39.00 in a research report on Tuesday, June 13th. Finally, Deutsche Bank AG cut Veeco Instruments from a “buy” rating to a “hold” rating and decreased their price target for the company from $35.00 to $30.00 in a research report on Friday, August 4th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $31.70.

Veeco Instruments Inc. (NASDAQ VECO) opened at 19.40 on Monday. The company’s market capitalization is $939.35 million. Veeco Instruments Inc. has a 52-week low of $18.30 and a 52-week high of $34.38. The company has a 50 day moving average of $23.04 and a 200 day moving average of $28.34.

Veeco Instruments (NASDAQ:VECO) last issued 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 for the quarter, compared to the consensus estimate of $110.87 million. Veeco Instruments had a negative return on equity of 1.33% and a negative net margin of 23.65%. The firm’s quarterly revenue was up 52.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.19) EPS. On average, equities research analysts forecast that Veeco Instruments Inc. will post $0.47 earnings per share for the current fiscal year.

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

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