Janney Montgomery Scott LLC Raises Stake in Veeco Instruments Inc. (VECO)
Janney Montgomery Scott LLC boosted its position in Veeco Instruments Inc. (NASDAQ:VECO) by 1.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,912 shares of the semiconductor company’s stock after buying an additional 370 shares during the period. Janney Montgomery Scott LLC owned approximately 0.06% of Veeco Instruments worth $638,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Veeco Instruments by 5.2% in the first quarter. Vanguard Group Inc. now owns 3,613,016 shares of the semiconductor company’s stock worth $107,848,000 after buying an additional 179,949 shares during the period. Dimensional Fund Advisors LP boosted its position in Veeco Instruments by 11.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,478,396 shares of the semiconductor company’s stock worth $73,980,000 after buying an additional 259,648 shares during the period. Neuberger Berman Group LLC boosted its position in Veeco Instruments by 0.8% in the first quarter. Neuberger Berman Group LLC now owns 1,212,761 shares of the semiconductor company’s stock worth $36,201,000 after buying an additional 9,959 shares during the period. State Street Corp boosted its position in Veeco Instruments by 7.1% in the first quarter. State Street Corp now owns 933,098 shares of the semiconductor company’s stock worth $27,860,000 after buying an additional 61,555 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in Veeco Instruments during the first quarter worth about $13,116,000. Hedge funds and other institutional investors own 88.62% of the company’s stock.
Veeco Instruments Inc. (NASDAQ:VECO) opened at 19.60 on Thursday. The stock has a 50 day moving average price of $27.83 and a 200 day moving average price of $29.15. Veeco Instruments Inc. has a one year low of $18.60 and a one year high of $34.38. The company’s market cap is $949.03 million.
Veeco Instruments (NASDAQ:VECO) last issued its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported ($0.07) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.03. Veeco Instruments had a negative net margin of 23.65% and a negative return on equity of 1.33%. The business had revenue of $115.07 million during the quarter, compared to the consensus estimate of $110.87 million. During the same period in the prior year, the firm posted ($0.19) EPS. The firm’s quarterly revenue was up 52.7% compared to the same quarter last year. On average, equities analysts anticipate that Veeco Instruments Inc. will post $0.50 EPS for the current fiscal year.
VECO has been the subject of a number of research reports. Stifel Nicolaus reiterated a “buy” rating and set a $38.00 target price (up previously from $36.00) on shares of Veeco Instruments in a report on Friday, July 21st. Benchmark Co. reiterated a “buy” rating and set a $39.00 target price on shares of Veeco Instruments in a report on Friday, April 21st. J P Morgan Chase & Co upgraded Veeco Instruments from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $35.00 to $39.00 in a report on Tuesday, June 13th. Deutsche Bank AG cut Veeco Instruments from a “buy” rating to a “hold” rating and lowered their target price for the stock from $35.00 to $30.00 in a report on Friday, August 4th. Finally, BidaskClub cut Veeco Instruments from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. Veeco Instruments presently has a consensus rating of “Hold” and an average price target of $33.78.
In other Veeco Instruments news, Director Peter J. Simone sold 4,257 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $31.91, for a total value of $135,840.87. Following the completion of the sale, the director now directly owns 24,332 shares of the company’s stock, valued at approximately $776,434.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President William John Miller sold 8,481 shares of the company’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $31.51, for a total transaction of $267,236.31. Following the completion of the sale, the president now directly owns 69,792 shares of the company’s stock, valued at $2,199,145.92. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.
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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