Columbus Circle Investors Buys 66,707 Shares of Veeco Instruments Inc. (VECO)
Columbus Circle Investors raised its stake in Veeco Instruments Inc. (NASDAQ:VECO) by 637.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 77,169 shares of the semiconductor company’s stock after purchasing an additional 66,707 shares during the quarter. Columbus Circle Investors owned 0.16% of Veeco Instruments worth $1,651,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in VECO. Vanguard Group Inc. lifted its position in Veeco Instruments by 15.3% in the second quarter. Vanguard Group Inc. now owns 4,167,222 shares of the semiconductor company’s stock valued at $116,057,000 after purchasing an additional 554,206 shares during the last quarter. Frontier Capital Management Co. LLC increased its stake in shares of Veeco Instruments by 24.2% during the second quarter. Frontier Capital Management Co. LLC now owns 2,601,473 shares of the semiconductor company’s stock valued at $72,451,000 after buying an additional 506,595 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Veeco Instruments by 15.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,860,280 shares of the semiconductor company’s stock valued at $79,659,000 after buying an additional 381,884 shares during the period. Baillie Gifford & Co. increased its stake in shares of Veeco Instruments by 58.9% during the third quarter. Baillie Gifford & Co. now owns 927,683 shares of the semiconductor company’s stock valued at $19,853,000 after buying an additional 343,839 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Veeco Instruments by 17.5% during the second quarter. Renaissance Technologies LLC now owns 1,441,237 shares of the semiconductor company’s stock valued at $40,138,000 after buying an additional 214,477 shares during the period. Hedge funds and other institutional investors own 95.41% of the company’s stock.
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Shares of Veeco Instruments Inc. (VECO) opened at $16.80 on Wednesday. Veeco Instruments Inc. has a 12 month low of $14.75 and a 12 month high of $34.38. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.61 and a quick ratio of 2.11.
Veeco Instruments (NASDAQ:VECO) last issued its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $0.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.16. The company had revenue of $131.87 million for the quarter, compared to analysts’ expectations of $134.97 million. Veeco Instruments had a negative return on equity of 0.73% and a negative net margin of 10.16%. The firm’s revenue for the quarter was up 54.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.05) earnings per share. research analysts anticipate that Veeco Instruments Inc. will post -0.01 EPS for the current year.
Several equities analysts have recently issued reports on VECO shares. Needham & Company LLC reduced their target price on Veeco Instruments from $36.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, August 30th. Stifel Nicolaus reissued a “buy” rating and set a $36.00 target price (down from $38.00) on shares of Veeco Instruments in a research note on Wednesday, August 9th. Benchmark Co. reissued a “buy” rating and set a $33.00 target price on shares of Veeco Instruments in a research note on Thursday, October 5th. Deutsche Bank AG cut Veeco Instruments from a “buy” rating to a “hold” rating and reduced their target price for the company from $35.00 to $30.00 in a research note on Friday, August 4th. Finally, KeyCorp cut Veeco Instruments to a “hold” rating in a research note on Wednesday, October 25th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $29.22.
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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