Veeco Instruments Inc. (NASDAQ:VECO) was the recipient of unusually large options trading on Tuesday. Stock investors purchased 671 call options on the company. This is an increase of 760% compared to the average volume of 78 call options.
In other Veeco Instruments news, SVP John P. Kiernan purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, December 13th. The shares were purchased at an average cost of $13.65 per share, with a total value of $68,250.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Shubham Maheshwari purchased 7,500 shares of the firm’s stock in a transaction on Wednesday, December 13th. The stock was acquired at an average cost of $13.74 per share, for a total transaction of $103,050.00. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 63,700 shares of company stock worth $877,472. 2.90% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in the stock. Two Sigma Investments LP raised its holdings in shares of Veeco Instruments by 2,081.1% during the 4th quarter. Two Sigma Investments LP now owns 488,609 shares of the semiconductor company’s stock valued at $7,256,000 after buying an additional 466,207 shares during the period. Two Sigma Advisers LP raised its holdings in shares of Veeco Instruments by 1,146.7% during the 4th quarter. Two Sigma Advisers LP now owns 310,891 shares of the semiconductor company’s stock valued at $4,617,000 after buying an additional 285,954 shares during the period. Guggenheim Capital LLC raised its holdings in shares of Veeco Instruments by 293.1% during the 4th quarter. Guggenheim Capital LLC now owns 84,636 shares of the semiconductor company’s stock valued at $1,257,000 after buying an additional 63,108 shares during the period. Clearbridge LLC raised its holdings in shares of Veeco Instruments by 10.1% during the 4th quarter. Clearbridge LLC now owns 747,390 shares of the semiconductor company’s stock valued at $11,099,000 after buying an additional 68,540 shares during the period. Finally, Clearbridge Investments LLC raised its holdings in shares of Veeco Instruments by 1.3% during the 4th quarter. Clearbridge Investments LLC now owns 1,006,160 shares of the semiconductor company’s stock valued at $14,941,000 after buying an additional 12,973 shares during the period. Institutional investors and hedge funds own 99.98% of the company’s stock.
Veeco Instruments (NASDAQ:VECO) last released its quarterly earnings data on Monday, February 12th. The semiconductor company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.10. The company had revenue of $143.40 million for the quarter, compared to the consensus estimate of $143.85 million. Veeco Instruments had a negative return on equity of 0.12% and a negative net margin of 9.24%. The company’s quarterly revenue was up 53.2% compared to the same quarter last year. During the same period last year, the business posted $0.09 EPS. analysts expect that Veeco Instruments will post 0.1 EPS for the current fiscal year.
Veeco Instruments announced that its Board of Directors has approved a stock repurchase plan on Monday, December 11th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.
A number of equities analysts have recently commented on VECO shares. KeyCorp downgraded Veeco Instruments to a “hold” rating in a report on Wednesday, October 25th. Benchmark restated a “buy” rating and issued a $23.00 price objective on shares of Veeco Instruments in a report on Friday, November 3rd. Needham & Company LLC restated a “buy” rating and issued a $22.00 price objective on shares of Veeco Instruments in a report on Friday, November 3rd. Zacks Investment Research downgraded Veeco Instruments from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. Finally, BidaskClub downgraded Veeco Instruments from a “sell” rating to a “strong sell” rating in a report on Thursday, December 7th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $28.67.
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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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