Veeco Instruments Inc. (NASDAQ:VECO) Director Peter J. Simone sold 4,549 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $16.46, for a total transaction of $74,876.54. Following the completion of the sale, the director now owns 36,757 shares in the company, valued at approximately $605,020.22. The sale was disclosed in a filing with the SEC, which is accessible through this link.
VECO traded down $0.13 on Friday, hitting $15.56. 143,200 shares of the company’s stock were exchanged, compared to its average volume of 316,230. The firm has a market cap of $824.02 million, a PE ratio of -389.00 and a beta of 1.38. Veeco Instruments Inc. has a twelve month low of $6.27 and a twelve month high of $17.23. The stock has a fifty day moving average of $12.49 and a two-hundred day moving average of $11.83. The company has a current ratio of 3.42, a quick ratio of 2.36 and a debt-to-equity ratio of 0.75.
Veeco Instruments (NASDAQ:VECO) last released its quarterly earnings data on Monday, November 4th. The semiconductor company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.06. The firm had revenue of $108.95 million for the quarter, compared to analyst estimates of $104.37 million. Veeco Instruments had a negative net margin of 47.03% and a negative return on equity of 6.97%. Veeco Instruments’s quarterly revenue was down 14.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.11 earnings per share. On average, analysts predict that Veeco Instruments Inc. will post -0.44 EPS for the current year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in VECO. Glen Harbor Capital Management LLC raised its stake in Veeco Instruments by 11.2% during the second quarter. Glen Harbor Capital Management LLC now owns 11,374 shares of the semiconductor company’s stock worth $139,000 after acquiring an additional 1,144 shares during the period. Bank of Montreal Can grew its position in Veeco Instruments by 43.9% in the 2nd quarter. Bank of Montreal Can now owns 12,945 shares of the semiconductor company’s stock worth $158,000 after purchasing an additional 3,947 shares during the last quarter. Elkfork Partners LLC grew its position in Veeco Instruments by 11.2% in the 2nd quarter. Elkfork Partners LLC now owns 14,476 shares of the semiconductor company’s stock worth $177,000 after purchasing an additional 1,456 shares during the last quarter. Meadow Creek Investment Management LLC grew its position in Veeco Instruments by 11.2% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 17,578 shares of the semiconductor company’s stock worth $215,000 after purchasing an additional 1,768 shares during the last quarter. Finally, Aperio Group LLC grew its position in Veeco Instruments by 7.5% in the 2nd quarter. Aperio Group LLC now owns 18,886 shares of the semiconductor company’s stock worth $231,000 after purchasing an additional 1,310 shares during the last quarter. Hedge funds and other institutional investors own 88.05% of the company’s stock.
A number of brokerages have recently issued reports on VECO. BidaskClub upgraded shares of Veeco Instruments from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. ValuEngine upgraded shares of Veeco Instruments from a “strong sell” rating to a “sell” rating in a research note on Tuesday. Northland Securities set a $19.00 price objective on shares of Veeco Instruments and gave the stock a “buy” rating in a research note on Monday, September 30th. Zacks Investment Research upgraded shares of Veeco Instruments from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Friday. Finally, Benchmark reiterated a “buy” rating and set a $18.00 price objective (up previously from $15.00) on shares of Veeco Instruments in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $16.75.
About Veeco Instruments
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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