Municipal Employees Retirement System of Michigan increased its position in Veeco Instruments Inc. (NASDAQ:VECO) by 22.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,338 shares of the semiconductor company’s stock after buying an additional 2,088 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Veeco Instruments were worth $316,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in VECO. Creative Planning increased its position in shares of Veeco Instruments by 3.4% in the first quarter. Creative Planning now owns 3,624 shares of the semiconductor company’s stock worth $108,000 after buying an additional 120 shares in the last quarter. FNY Partners Fund LP bought a new position in shares of Veeco Instruments during the first quarter worth $126,000. State of Alaska Department of Revenue increased its position in shares of Veeco Instruments by 1.8% in the first quarter. State of Alaska Department of Revenue now owns 4,480 shares of the semiconductor company’s stock worth $133,000 after buying an additional 80 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Veeco Instruments by 2,768.5% in the second quarter. Nisa Investment Advisors LLC now owns 5,737 shares of the semiconductor company’s stock worth $160,000 after buying an additional 5,537 shares in the last quarter. Finally, Bank of Montreal Can increased its position in shares of Veeco Instruments by 4.8% in the second quarter. Bank of Montreal Can now owns 5,771 shares of the semiconductor company’s stock worth $161,000 after buying an additional 265 shares in the last quarter. 96.16% of the stock is owned by institutional investors.

Shares of Veeco Instruments Inc. (NASDAQ:VECO) opened at 19.45 on Wednesday. The firm’s market cap is $941.77 million. The stock’s 50 day moving average is $26.09 and its 200 day moving average is $28.78. Veeco Instruments Inc. has a 12 month low of $18.30 and a 12 month high of $34.38.

Veeco Instruments (NASDAQ:VECO) last announced its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported ($0.07) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.03. Veeco Instruments had a negative return on equity of 1.33% and a negative net margin of 23.65%. The firm had revenue of $115.07 million during the quarter, compared to the consensus estimate of $110.87 million. During the same quarter in the previous year, the company posted ($0.19) earnings per share. The business’s revenue was up 52.7% on a year-over-year basis. Analysts forecast that Veeco Instruments Inc. will post $0.48 EPS for the current fiscal year.

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A number of equities analysts have weighed in on the stock. 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 note on Friday, August 18th. BidaskClub raised shares of Veeco Instruments from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. Zacks Investment Research downgraded shares of Veeco Instruments from a “hold” rating to a “sell” rating in a research note on Saturday, July 22nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $36.00 target price (down from $38.00) on shares of Veeco Instruments in a research note on Wednesday, August 9th. Finally, J P Morgan Chase & Co raised shares of Veeco Instruments from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $35.00 to $39.00 in a research note on Tuesday, June 13th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $33.50.

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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