Veeco Instruments Inc. (NASDAQ:VECO) CFO John P. Kiernan Sells 2,500 Shares

Veeco Instruments Inc. (NASDAQ:VECO - Get Free Report) CFO John P. Kiernan sold 2,500 shares of the company's stock in a transaction on Monday, June 10th. The shares were sold at an average price of $43.39, for a total value of $108,475.00. Following the sale, the chief financial officer now owns 2,167 shares of the company's stock, valued at approximately $94,026.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Veeco Instruments Trading Up 1.1 %

VECO stock traded up $0.48 during mid-day trading on Tuesday, reaching $44.02. 462,433 shares of the stock traded hands, compared to its average volume of 527,174. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.02 and a current ratio of 3.05. Veeco Instruments Inc. has a one year low of $23.63 and a one year high of $44.39. The stock has a market capitalization of $2.49 billion, a PE ratio of -97.66 and a beta of 1.20. The business has a 50-day moving average price of $37.89 and a two-hundred day moving average price of $34.27.

Veeco Instruments (NASDAQ:VECO - Get Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The semiconductor company reported $0.31 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.01. The business had revenue of $174.48 million for the quarter, compared to analysts' expectations of $170.00 million. Veeco Instruments had a negative net margin of 2.51% and a positive return on equity of 11.97%. Equities research analysts expect that Veeco Instruments Inc. will post 1.29 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Needham & Company LLC upped their price objective on Veeco Instruments from $43.00 to $46.00 and gave the company a "buy" rating in a research report on Wednesday, May 8th. Benchmark upped their price target on Veeco Instruments from $34.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, February 15th. Oppenheimer reaffirmed an "outperform" rating and issued a $45.00 price objective (up previously from $40.00) on shares of Veeco Instruments in a research note on Wednesday, May 15th. Citigroup upped their price objective on Veeco Instruments from $36.00 to $43.00 and gave the stock a "buy" rating in a research note on Wednesday, February 21st. Finally, Barclays increased their price target on Veeco Instruments from $33.00 to $35.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 8th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $40.71.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in VECO. Ulland Investment Advisors LLC bought a new position in Veeco Instruments during the 1st quarter worth about $33,000. Federated Hermes Inc. acquired a new position in Veeco Instruments in the 3rd quarter worth approximately $33,000. Covestor Ltd grew its stake in shares of Veeco Instruments by 1,311.0% during the 3rd quarter. Covestor Ltd now owns 1,284 shares of the semiconductor company's stock worth $36,000 after purchasing an additional 1,193 shares during the period. Montag A & Associates Inc. acquired a new stake in shares of Veeco Instruments during the 1st quarter worth approximately $99,000. Finally, Foundry Partners LLC acquired a new stake in shares of Veeco Instruments during the 1st quarter worth approximately $203,000. 98.46% of the stock is currently owned by institutional investors.

Veeco Instruments Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.