Royce & Associates LP increased its stake in Veeco Instruments Inc. (NASDAQ:VECO) by 36.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 838,082 shares of the semiconductor company’s stock after purchasing an additional 224,600 shares during the quarter. Royce & Associates LP owned approximately 1.75% of Veeco Instruments worth $8,590,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Veeco Instruments during the 2nd quarter valued at $147,000. Trexquant Investment LP bought a new stake in Veeco Instruments during the 2nd quarter valued at $201,000. GSA Capital Partners LLP bought a new stake in Veeco Instruments during the 2nd quarter valued at $257,000. Alambic Investment Management L.P. bought a new stake in Veeco Instruments during the 2nd quarter valued at $272,000. Finally, Russell Investments Group Ltd. raised its holdings in Veeco Instruments by 443.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 21,200 shares of the semiconductor company’s stock valued at $217,000 after acquiring an additional 17,300 shares during the period. 90.47% of the stock is currently owned by institutional investors.
VECO has been the topic of a number of analyst reports. BidaskClub cut shares of Veeco Instruments from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 26th. Benchmark restated a “hold” rating on shares of Veeco Instruments in a research report on Wednesday, September 5th. ValuEngine lowered shares of Veeco Instruments from a “hold” rating to a “sell” rating in a research report on Monday, November 12th. Finally, Zacks Investment Research upgraded shares of Veeco Instruments from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research report on Wednesday, October 24th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $24.00.
VECO opened at $7.80 on Friday. The firm has a market cap of $385.69 million, a PE ratio of 26.90 and a beta of 0.63. The company has a quick ratio of 2.28, a current ratio of 3.15 and a debt-to-equity ratio of 0.49. Veeco Instruments Inc. has a one year low of $6.61 and a one year high of $20.55.
Veeco Instruments (NASDAQ:VECO) last released its quarterly earnings results on Thursday, November 1st. The semiconductor company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. The firm had revenue of $126.76 million during the quarter, compared to analyst estimates of $135.50 million. Veeco Instruments had a negative net margin of 45.70% and a positive return on equity of 1.93%. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.09 EPS. Sell-side analysts forecast that Veeco Instruments Inc. will post -0.01 EPS for the current fiscal year.
Veeco Instruments Profile
Veeco Instruments Inc, together with its subsidiaries, develops, manufactures, sells, and supports semiconductor process equipment worldwide. It offers metal organic chemical vapor deposition systems; packaging lithography equipment; precision surface processing systems; laser annealing systems; ion beam etch and deposition systems; molecular beam epitaxy systems; 3D wafer inspection systems; and atomic layer deposition and other deposition systems.
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