Panagora Asset Management Inc. lifted its holdings in Veeco Instruments Inc. (NASDAQ:VECO) by 12,976.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 94,934 shares of the semiconductor company’s stock after purchasing an additional 94,208 shares during the quarter. Panagora Asset Management Inc. owned about 0.19% of Veeco Instruments worth $1,160,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Bank of Montreal Can grew its position in shares of Veeco Instruments by 17.4% in the 1st quarter. Bank of Montreal Can now owns 8,998 shares of the semiconductor company’s stock valued at $98,000 after purchasing an additional 1,333 shares during the period. Aperio Group LLC lifted its stake in Veeco Instruments by 7.5% in the 2nd quarter. Aperio Group LLC now owns 18,886 shares of the semiconductor company’s stock valued at $231,000 after acquiring an additional 1,310 shares in the last quarter. Texas Permanent School Fund lifted its stake in Veeco Instruments by 4.3% in the 1st quarter. Texas Permanent School Fund now owns 32,618 shares of the semiconductor company’s stock valued at $354,000 after acquiring an additional 1,343 shares in the last quarter. First Trust Advisors LP lifted its stake in Veeco Instruments by 4.3% in the 1st quarter. First Trust Advisors LP now owns 46,775 shares of the semiconductor company’s stock valued at $507,000 after acquiring an additional 1,945 shares in the last quarter. Finally, Comerica Bank lifted its stake in Veeco Instruments by 2.4% in the 1st quarter. Comerica Bank now owns 47,535 shares of the semiconductor company’s stock valued at $573,000 after acquiring an additional 1,129 shares in the last quarter. Institutional investors and hedge funds own 91.56% of the company’s stock.
Several research firms have commented on VECO. Northland Securities set a $19.00 target price on Veeco Instruments and gave the company a “buy” rating in a research note on Friday, September 6th. Benchmark restated a “buy” rating and issued a $15.00 target price on shares of Veeco Instruments in a research note on Thursday, May 16th. Zacks Investment Research cut Veeco Instruments from a “hold” rating to a “sell” rating in a research note on Saturday, September 7th. ValuEngine cut Veeco Instruments from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, BidaskClub upgraded Veeco Instruments from a “strong sell” rating to a “sell” rating in a research note on Tuesday. Three analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $15.50.
NASDAQ VECO traded up $0.04 during trading on Thursday, hitting $11.02. The stock had a trading volume of 4,010 shares, compared to its average volume of 327,598. The company has a market capitalization of $537.70 million, a PE ratio of -275.75 and a beta of 1.31. The company’s 50-day moving average price is $10.73 and its two-hundred day moving average price is $11.59. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.36 and a current ratio of 3.29. Veeco Instruments Inc. has a 12 month low of $6.27 and a 12 month high of $15.00.
Veeco Instruments (NASDAQ:VECO) last released its earnings results on Monday, August 5th. The semiconductor company reported ($0.16) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.02). Veeco Instruments had a negative net margin of 44.39% and a negative return on equity of 5.61%. The firm had revenue of $97.80 million during the quarter, compared to the consensus estimate of $101.43 million. During the same quarter in the previous year, the firm posted $0.15 EPS. The company’s revenue was down 38.0% on a year-over-year basis. As a group, equities analysts anticipate that Veeco Instruments Inc. will post -0.44 earnings per share for the current fiscal year.
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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