Veeco Instruments Inc. (VECO) Holdings Lifted by Swiss National Bank
Swiss National Bank raised its holdings in shares of Veeco Instruments Inc. (NASDAQ:VECO) by 21.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,821 shares of the semiconductor company’s stock after purchasing an additional 14,021 shares during the period. Swiss National Bank owned 0.20% of Veeco Instruments worth $2,251,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FNY Partners Fund LP purchased a new stake in Veeco Instruments in the 1st quarter worth approximately $126,000. Bank of Montreal Can increased its stake in shares of Veeco Instruments by 7.6% during the first quarter. Bank of Montreal Can now owns 5,506 shares of the semiconductor company’s stock valued at $165,000 after buying an additional 391 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Veeco Instruments by 2,768.5% during the second quarter. Nisa Investment Advisors LLC now owns 5,737 shares of the semiconductor company’s stock valued at $160,000 after buying an additional 5,537 shares during the period. Capstone Asset Management Co. increased its stake in shares of Veeco Instruments by 7.1% during the second quarter. Capstone Asset Management Co. now owns 8,367 shares of the semiconductor company’s stock valued at $233,000 after buying an additional 557 shares during the period. Finally, OppenheimerFunds Inc. increased its stake in shares of Veeco Instruments by 19.7% during the first quarter. OppenheimerFunds Inc. now owns 9,103 shares of the semiconductor company’s stock valued at $271,000 after buying an additional 1,496 shares during the period. Institutional investors and hedge funds own 96.00% of the company’s stock.
A number of brokerages recently commented on VECO. KeyCorp decreased their target price on Veeco Instruments from $34.00 to $31.00 and set an “overweight” rating for the company in a report on Friday, August 18th. ValuEngine cut shares of Veeco Instruments from a “hold” rating to a “sell” rating in a report on Friday, September 1st. BidaskClub upgraded shares of Veeco Instruments from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Zacks Investment Research downgraded shares of Veeco Instruments from a “hold” rating to a “sell” rating in a research report on Saturday, July 22nd. Finally, Needham & Company LLC reduced their price objective on shares of Veeco Instruments from $36.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday, August 30th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $31.70.
Shares of Veeco Instruments Inc. (NASDAQ:VECO) opened at 21.25 on Wednesday. The stock’s market capitalization is $1.03 billion. Veeco Instruments Inc. has a 52-week low of $18.30 and a 52-week high of $34.38. The stock has a 50 day moving average of $19.97 and a 200-day moving average of $27.38.
Veeco Instruments (NASDAQ:VECO) last announced its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.03. The firm had revenue of $115.07 million for the quarter, compared to analyst estimates of $110.87 million. Veeco Instruments had a negative return on equity of 1.33% and a negative net margin of 23.65%. The business’s revenue for the quarter was up 52.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.19) earnings per share. Analysts predict that Veeco Instruments Inc. will post $0.46 EPS for the current fiscal year.
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Veeco Instruments 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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