Rhumbline Advisers Has $2.77 Million Stake in Veeco Instruments Inc. (VECO)

Rhumbline Advisers grew its position in Veeco Instruments Inc. (NASDAQ:VECO) by 17.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 99,614 shares of the semiconductor company’s stock after buying an additional 14,923 shares during the quarter. Rhumbline Advisers owned 0.25% of Veeco Instruments worth $2,774,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. State of Alaska Department of Revenue raised its position in shares of Veeco Instruments by 1.8% in the 1st 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 in the last quarter. Creative Planning raised its position in shares of Veeco Instruments by 3.4% in the 1st quarter. Creative Planning now owns 3,624 shares of the semiconductor company’s stock valued at $108,000 after buying an additional 120 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of Veeco Instruments by 1.2% in the 1st 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 in the last quarter. Arizona State Retirement System raised its position in shares of Veeco Instruments by 1.0% in the 1st quarter. Arizona State Retirement System now owns 21,112 shares of the semiconductor company’s stock valued at $630,000 after buying an additional 200 shares in the last quarter. Finally, Bank of Montreal Can raised its position in shares of Veeco Instruments by 4.8% in the 2nd quarter. Bank of Montreal Can now owns 5,771 shares of the semiconductor company’s stock valued at $161,000 after buying an additional 265 shares in the last quarter. Institutional investors own 96.16% of the company’s stock.

Several equities analysts have recently commented on VECO shares. Needham & Company LLC dropped their target price on shares of Veeco Instruments from $36.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, August 30th. Stifel Nicolaus restated a “buy” rating and issued a $38.00 target price (up from $36.00) on shares of Veeco Instruments in a research report on Friday, July 21st. 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 report on Friday, August 4th. BidaskClub upgraded shares of Veeco Instruments from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Finally, KeyCorp dropped their target price on shares of Veeco Instruments from $34.00 to $31.00 and set an “overweight” rating for the company in a research report on Friday, August 18th. Three analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $31.70.

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

Veeco Instruments (NASDAQ:VECO) last announced its earnings results on Thursday, August 3rd. The semiconductor company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.03. The business had revenue of $115.07 million for the quarter, compared to the consensus estimate of $110.87 million. Veeco Instruments had a negative net margin of 23.65% and a negative return on equity of 1.33%. Veeco Instruments’s quarterly revenue was up 52.7% on a year-over-year basis. During the same period last year, the firm posted ($0.19) earnings per share. Equities research analysts predict that Veeco Instruments Inc. will post $0.47 earnings per share for the current year.

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

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