Point72 DIFC Ltd bought a new stake in shares of Veeco Instruments Inc. (NASDAQ:VECO - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 29,715 shares of the semiconductor company's stock, valued at approximately $984,000. Point72 DIFC Ltd owned 0.05% of Veeco Instruments at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the business. EFG Asset Management North America Corp. grew its stake in Veeco Instruments by 0.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 67,588 shares of the semiconductor company's stock valued at $3,156,000 after acquiring an additional 319 shares during the period. US Bancorp DE grew its position in shares of Veeco Instruments by 14.8% in the third quarter. US Bancorp DE now owns 3,864 shares of the semiconductor company's stock valued at $128,000 after purchasing an additional 498 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Veeco Instruments by 2.2% during the second quarter. Louisiana State Employees Retirement System now owns 28,500 shares of the semiconductor company's stock worth $1,331,000 after purchasing an additional 600 shares in the last quarter. KBC Group NV raised its position in shares of Veeco Instruments by 46.8% during the 3rd quarter. KBC Group NV now owns 2,088 shares of the semiconductor company's stock worth $69,000 after purchasing an additional 666 shares during the last quarter. Finally, Signaturefd LLC raised its position in shares of Veeco Instruments by 130.6% during the 3rd quarter. Signaturefd LLC now owns 1,328 shares of the semiconductor company's stock worth $44,000 after purchasing an additional 752 shares during the last quarter. 98.46% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
VECO has been the topic of several research reports. The Goldman Sachs Group decreased their price target on shares of Veeco Instruments from $35.00 to $30.00 and set a "neutral" rating on the stock in a research note on Thursday, November 7th. StockNews.com raised Veeco Instruments from a "sell" rating to a "hold" rating in a research note on Friday. Oppenheimer reduced their price target on Veeco Instruments from $45.00 to $40.00 and set an "outperform" rating on the stock in a report on Thursday, November 7th. Finally, Benchmark dropped their price objective on shares of Veeco Instruments from $42.00 to $38.00 and set a "buy" rating for the company in a report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Veeco Instruments presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.14.
Get Our Latest Report on VECO
Insider Buying and Selling at Veeco Instruments
In other news, CFO John P. Kiernan sold 2,500 shares of Veeco Instruments stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $32.63, for a total value of $81,575.00. Following the sale, the chief financial officer now owns 82,642 shares of the company's stock, valued at $2,696,608.46. The trade was a 2.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders sold 7,500 shares of company stock worth $225,850. 2.40% of the stock is owned by insiders.
Veeco Instruments Stock Up 0.4 %
Shares of NASDAQ:VECO traded up $0.11 on Friday, hitting $27.79. 337,646 shares of the company's stock were exchanged, compared to its average volume of 659,312. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.41 and a current ratio of 3.54. Veeco Instruments Inc. has a 1-year low of $25.52 and a 1-year high of $49.25. The company has a market capitalization of $1.58 billion, a PE ratio of 20.76 and a beta of 1.15. The firm's 50-day moving average is $29.61 and its 200 day moving average is $36.17.
Veeco Instruments (NASDAQ:VECO - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.01. Veeco Instruments had a return on equity of 10.92% and a net margin of 11.34%. The firm had revenue of $184.80 million during the quarter, compared to the consensus estimate of $180.57 million. During the same period in the prior year, the company posted $0.41 earnings per share. The firm's quarterly revenue was up 4.2% compared to the same quarter last year. Sell-side analysts predict that Veeco Instruments Inc. will post 1.12 EPS for the current year.
Veeco Instruments Company Profile
(
Free Report)
Veeco Instruments Inc, together with its subsidiaries, develops, manufactures, sells, and supports semiconductor and thin film process equipment primarily to make electronic devices in the United States, Europe, the Middle East, and Africa, China, Rest of the Asia-Pacific, and internationally. The company offers laser annealing, ion beam deposition and etch, metal organic chemical vapor deposition, single wafer wet processing and surface preparation, molecular beam epitaxy, advanced packaging lithography, atomic layer deposition, and other deposition systems.
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