Veeco Instruments Inc. (VECO) Position Cut by Renaissance Technologies LLC

Renaissance Technologies LLC lowered its holdings in shares of Veeco Instruments Inc. (NASDAQ:VECO) by 81.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,303 shares of the semiconductor company’s stock after selling 103,000 shares during the quarter. Renaissance Technologies LLC’s holdings in Veeco Instruments were worth $332,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. GSA Capital Partners LLP purchased a new position in Veeco Instruments during the 2nd quarter valued at $257,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Veeco Instruments during the 2nd quarter valued at $147,000. Trexquant Investment LP purchased a new position in Veeco Instruments during the 2nd quarter valued at $201,000. Legal & General Group Plc boosted its holdings in Veeco Instruments by 9.8% during the 1st quarter. Legal & General Group Plc now owns 103,423 shares of the semiconductor company’s stock valued at $1,752,000 after acquiring an additional 9,228 shares during the period. Finally, LPL Financial LLC boosted its holdings in Veeco Instruments by 18.9% during the 1st quarter. LPL Financial LLC now owns 25,065 shares of the semiconductor company’s stock valued at $426,000 after acquiring an additional 3,988 shares during the period. Institutional investors own 94.03% of the company’s stock.

In other news, CFO Shubham Maheshwari bought 5,000 shares of the stock in a transaction on Thursday, August 23rd. The stock was acquired at an average cost of $10.05 per share, for a total transaction of $50,250.00. Following the acquisition, the chief financial officer now owns 93,323 shares of the company’s stock, valued at $937,896.15. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.60% of the stock is currently owned by corporate insiders.

A number of research firms recently issued reports on VECO. BidaskClub upgraded Veeco Instruments from a “sell” rating to a “hold” rating in a report on Friday, July 13th. Benchmark restated a “hold” rating and set a $38.00 price objective on shares of Veeco Instruments in a report on Friday, August 3rd. ValuEngine upgraded Veeco Instruments from a “strong sell” rating to a “sell” rating in a report on Tuesday. Finally, Zacks Investment Research upgraded Veeco Instruments from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Wednesday, October 24th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. Veeco Instruments currently has a consensus rating of “Hold” and an average target price of $24.00.

Shares of VECO stock opened at $8.97 on Friday. Veeco Instruments Inc. has a twelve month low of $6.61 and a twelve month high of $20.55. The firm has a market capitalization of $433.48 million, a price-to-earnings ratio of -450.00 and a beta of 0.69. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.15 and a quick ratio of 2.28.

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

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About Veeco Instruments

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.

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

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