Veeco Instruments Inc. (VECO) Shares Bought by Renaissance Technologies LLC
Renaissance Technologies LLC raised its stake in Veeco Instruments Inc. (NASDAQ:VECO) by 17.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,441,237 shares of the semiconductor company’s stock after buying an additional 214,477 shares during the period. Renaissance Technologies LLC owned about 3.55% of Veeco Instruments worth $40,138,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of VECO. FNY Partners Fund LP purchased a new stake in shares of Veeco Instruments during the 1st quarter valued at $126,000. Nisa Investment Advisors LLC lifted its holdings in shares of Veeco Instruments by 2,768.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 5,737 shares of the semiconductor company’s stock worth $160,000 after acquiring an additional 5,537 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Veeco Instruments by 4.8% during the 2nd quarter. Bank of Montreal Can now owns 5,771 shares of the semiconductor company’s stock worth $161,000 after acquiring an additional 265 shares during the last quarter. Capstone Asset Management Co. lifted its holdings in shares of Veeco Instruments by 7.1% during the 2nd quarter. Capstone Asset Management Co. now owns 8,367 shares of the semiconductor company’s stock worth $233,000 after acquiring an additional 557 shares during the last quarter. Finally, Laurion Capital Management LP bought a new stake in shares of Veeco Instruments during the 2nd quarter worth $237,000. 96.00% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts recently issued reports on VECO shares. KeyCorp cut 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 report on Friday, August 18th. ValuEngine downgraded Veeco Instruments from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. BidaskClub upgraded Veeco Instruments from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Zacks Investment Research lowered Veeco Instruments from a “hold” rating to a “sell” rating in a research note on Saturday, July 22nd. Finally, Needham & Company LLC dropped their price target on Veeco Instruments from $36.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, August 30th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $31.70.
Veeco Instruments Inc. (VECO) opened at 21.15 on Tuesday. The stock has a 50 day moving average price of $19.93 and a 200 day moving average price of $27.44. Veeco Instruments Inc. has a 12-month low of $18.30 and a 12-month high of $34.38. The stock’s market cap is $1.02 billion.
Veeco Instruments (NASDAQ:VECO) last posted its earnings results on Thursday, August 3rd. The semiconductor company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the company earned ($0.19) EPS. The company’s quarterly revenue was up 52.7% compared to the same quarter last year. On average, analysts forecast that Veeco Instruments Inc. will post $0.46 earnings per share for the current fiscal year.
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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