Public Sector Pension Investment Board Increases Stock Holdings in Veeco Instruments Inc. $VECO

Public Sector Pension Investment Board increased its stake in shares of Veeco Instruments Inc. (NASDAQ:VECO) by 14.8% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 234,639 shares of the semiconductor company’s stock after acquiring an additional 30,268 shares during the period. Public Sector Pension Investment Board’s holdings in Veeco Instruments were worth $7,140,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CWM LLC raised its stake in shares of Veeco Instruments by 7.6% during the third quarter. CWM LLC now owns 4,985 shares of the semiconductor company’s stock valued at $152,000 after purchasing an additional 353 shares during the period. Amalgamated Bank grew its holdings in Veeco Instruments by 3.2% during the 2nd quarter. Amalgamated Bank now owns 16,926 shares of the semiconductor company’s stock valued at $344,000 after purchasing an additional 531 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Veeco Instruments by 9.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 6,421 shares of the semiconductor company’s stock valued at $130,000 after purchasing an additional 580 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Veeco Instruments by 26.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 2,999 shares of the semiconductor company’s stock worth $91,000 after buying an additional 633 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its holdings in Veeco Instruments by 5.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 14,478 shares of the semiconductor company’s stock worth $441,000 after buying an additional 724 shares in the last quarter. Hedge funds and other institutional investors own 98.46% of the company’s stock.

Insider Buying and Selling

In other Veeco Instruments news, CEO William John Miller sold 25,000 shares of the business’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $32.00, for a total transaction of $800,000.00. Following the completion of the transaction, the chief executive officer owned 464,543 shares in the company, valued at approximately $14,865,376. The trade was a 5.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on VECO shares. Weiss Ratings restated a “hold (c)” rating on shares of Veeco Instruments in a research note on Wednesday, January 21st. Citigroup raised their price target on shares of Veeco Instruments from $29.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $27.50.

Veeco Instruments Stock Performance

Shares of VECO opened at $34.35 on Wednesday. Veeco Instruments Inc. has a 1 year low of $16.92 and a 1 year high of $35.77. The company has a debt-to-equity ratio of 0.26, a quick ratio of 3.62 and a current ratio of 5.36. The company has a market cap of $2.07 billion, a price-to-earnings ratio of 41.39 and a beta of 1.19. The firm has a fifty day moving average of $31.38 and a 200-day moving average of $28.96.

Veeco Instruments Profile

Veeco Instruments Inc (NASDAQ: VECO) is a leading supplier of process equipment for the semiconductor, data storage, wireless communications, power electronics and advanced packaging industries. The company designs, manufactures and services precision tools used to grow, deposit and etch thin films on substrates, enabling the fabrication of chips, light-emitting diodes (LEDs), micro-electromechanical systems (MEMS) and high-density storage devices. Veeco’s platforms are deployed across fabrication facilities worldwide, where they support key processes in materials science and device manufacturing.

Veeco’s product portfolio spans molecular beam epitaxy (MBE), metal organic chemical vapor deposition (MOCVD), atomic layer deposition (ALD), ion beam etch and deposition, and high-precision wet and dry etch systems.