Veeco Instruments (NASDAQ:VECO) CEO William John Miller Sells 50,000 Shares

Veeco Instruments Inc. (NASDAQ:VECO) CEO William John Miller sold 50,000 shares of the business’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $31.62, for a total value of $1,581,000.00. Following the completion of the sale, the chief executive officer directly owned 414,543 shares in the company, valued at $13,107,849.66. This represents a 10.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

William John Miller also recently made the following trade(s):

• On Friday, December 5th, William John Miller sold 25,000 shares of Veeco Instruments stock. The stock was sold at an average price of $32.00, for a total value of $800,000.00.

Veeco Instruments Trading Down 1.6%

Shares of VECO stock traded down $0.53 during trading hours on Thursday, reaching $31.84. 1,019,032 shares of the stock traded hands, compared to its average volume of 909,829. The business has a fifty day moving average price of $31.40 and a 200 day moving average price of $29.49. The firm has a market capitalization of $1.92 billion, a PE ratio of 53.97 and a beta of 1.17. Veeco Instruments Inc. has a 1-year low of $16.92 and a 1-year high of $35.77. The company has a quick ratio of 3.20, a current ratio of 4.75 and a debt-to-equity ratio of 0.26.

Institutional Investors Weigh In On Veeco Instruments

Institutional investors have recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its stake in Veeco Instruments by 75.6% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,366 shares of the semiconductor company’s stock worth $49,000 after purchasing an additional 1,019 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Veeco Instruments in the fourth quarter valued at about $77,000. Johnson Financial Group Inc. bought a new stake in shares of Veeco Instruments during the 3rd quarter valued at approximately $91,000. Hantz Financial Services Inc. increased its holdings in shares of Veeco Instruments by 49,728.6% during the second quarter. Hantz Financial Services Inc. now owns 3,488 shares of the semiconductor company’s stock worth $71,000 after buying an additional 3,481 shares in the last quarter. Finally, Global Retirement Partners LLC raised its position in Veeco Instruments by 16,961.9% in the fourth quarter. Global Retirement Partners LLC now owns 3,583 shares of the semiconductor company’s stock valued at $102,000 after purchasing an additional 3,562 shares during the last quarter. Institutional investors own 98.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Needham & Company LLC restated a “hold” rating on shares of Veeco Instruments in a research note on Thursday, February 26th. Zacks Research upgraded Veeco Instruments from a “hold” rating to a “strong-buy” rating in a research report on Monday. Citigroup raised their price objective on shares of Veeco Instruments from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Veeco Instruments in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $28.17.

Veeco Instruments Company Profile

Veeco Instruments Inc (NASDAQ: VECO) is a leading supplier of process equipment for the semiconductor, data storage, wireless communications, power electronics and advanced packaging industries. The company designs, manufactures and services precision tools used to grow, deposit and etch thin films on substrates, enabling the fabrication of chips, light-emitting diodes (LEDs), micro-electromechanical systems (MEMS) and high-density storage devices. Veeco’s platforms are deployed across fabrication facilities worldwide, where they support key processes in materials science and device manufacturing.

Veeco’s product portfolio spans molecular beam epitaxy (MBE), metal organic chemical vapor deposition (MOCVD), atomic layer deposition (ALD), ion beam etch and deposition, and high-precision wet and dry etch systems.