Parametric Portfolio Associates LLC raised its position in Veeco Instruments Inc. (NASDAQ:VECO) by 15.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 159,378 shares of the semiconductor company’s stock after purchasing an additional 21,874 shares during the quarter. Parametric Portfolio Associates LLC owned 0.32% of Veeco Instruments worth $1,525,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its position in shares of Veeco Instruments by 60.7% during the first quarter. PNC Financial Services Group Inc. now owns 3,721 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 1,405 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in Veeco Instruments in the fourth quarter worth approximately $85,000. Victory Capital Management Inc. increased its holdings in Veeco Instruments by 35.8% in the fourth quarter. Victory Capital Management Inc. now owns 9,283 shares of the semiconductor company’s stock worth $136,000 after purchasing an additional 2,447 shares in the last quarter. SG Americas Securities LLC bought a new stake in Veeco Instruments in the first quarter worth approximately $100,000. Finally, Public Employees Retirement Association of Colorado increased its holdings in Veeco Instruments by 309.5% in the first quarter. Public Employees Retirement Association of Colorado now owns 10,754 shares of the semiconductor company’s stock worth $103,000 after purchasing an additional 8,128 shares in the last quarter. Hedge funds and other institutional investors own 85.91% of the company’s stock.
Shares of NASDAQ:VECO opened at $12.78 on Wednesday. The stock has a market cap of $621.32 million, a price-to-earnings ratio of -9.98 and a beta of 1.32. The company has a quick ratio of 2.89, a current ratio of 3.89 and a debt-to-equity ratio of 0.83. Veeco Instruments Inc. has a 12-month low of $7.42 and a 12-month high of $19.21. The business’s 50 day moving average is $12.37 and its 200 day moving average is $12.73.
Veeco Instruments (NASDAQ:VECO) last announced its earnings results on Thursday, May 7th. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.16. The company had revenue of $104.50 million for the quarter, compared to analysts’ expectations of $103.41 million. Veeco Instruments had a positive return on equity of 0.05% and a negative net margin of 14.32%. Veeco Instruments’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.14) earnings per share. As a group, equities research analysts expect that Veeco Instruments Inc. will post 0.37 earnings per share for the current year.
VECO has been the subject of a number of research analyst reports. Stifel Nicolaus upgraded Veeco Instruments from a “hold” rating to a “buy” rating and lifted their target price for the stock from $14.00 to $18.00 in a report on Tuesday, March 3rd. Northland Securities reissued a “buy” rating and issued a $20.00 price objective on shares of Veeco Instruments in a research note on Friday, May 29th. ValuEngine raised Veeco Instruments from a “sell” rating to a “hold” rating in a research note on Thursday, April 2nd. Benchmark raised their price objective on Veeco Instruments from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Finally, Oppenheimer initiated coverage on Veeco Instruments in a research note on Thursday, June 4th. They issued an “outperform” rating and a $18.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $18.40.
Veeco Instruments Profile
Veeco Instruments Inc, together with its subsidiaries, develops, manufactures, sells, and supports semiconductor and thin film process equipment primarily to make electronic devices worldwide. It offers metal organic chemical vapor deposition systems; packaging lithography equipment; precision surface processing systems; laser annealing systems; ion beam deposition and etch systems; molecular beam epitaxy systems; 3D wafer inspection systems; and atomic layer deposition and other deposition systems.
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