Andra AP fonden Reduces Holdings in Veeco Instruments Inc. $VECO

Andra AP fonden reduced its stake in shares of Veeco Instruments Inc. (NASDAQ:VECO) by 67.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 17,839 shares of the semiconductor company’s stock after selling 37,200 shares during the quarter. Andra AP fonden’s holdings in Veeco Instruments were worth $543,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of VECO. Inspire Advisors LLC acquired a new position in Veeco Instruments during the third quarter worth approximately $3,675,000. Old West Investment Management LLC grew its position in shares of Veeco Instruments by 129.1% during the third quarter. Old West Investment Management LLC now owns 67,632 shares of the semiconductor company’s stock worth $2,058,000 after acquiring an additional 38,114 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Veeco Instruments in the 2nd quarter valued at $679,000. Squarepoint Ops LLC raised its position in Veeco Instruments by 133.3% in the 2nd quarter. Squarepoint Ops LLC now owns 76,895 shares of the semiconductor company’s stock valued at $1,563,000 after purchasing an additional 43,941 shares during the last quarter. Finally, TradeLink Capital LLC acquired a new stake in Veeco Instruments during the 2nd quarter worth $296,000. Institutional investors and hedge funds own 98.46% of the company’s stock.

Insiders Place Their Bets

In related news, CEO William John Miller sold 25,000 shares of Veeco Instruments 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 directly owned 464,543 shares of the company’s stock, valued at approximately $14,865,376. The trade was a 5.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 2.30% of the stock is owned by insiders.

Veeco Instruments Stock Down 0.4%

VECO stock opened at $30.56 on Monday. The company has a current ratio of 4.75, a quick ratio of 3.20 and a debt-to-equity ratio of 0.26. The company’s 50-day moving average price is $31.21 and its 200 day moving average price is $29.35. Veeco Instruments Inc. has a 52 week low of $16.92 and a 52 week high of $35.77. The company has a market cap of $1.85 billion, a P/E ratio of 51.80 and a beta of 1.17.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Needham & Company LLC restated a “hold” rating on shares of Veeco Instruments in a research note on Thursday. Citigroup boosted their price target on Veeco Instruments from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Veeco Instruments in a report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Veeco Instruments presently has a consensus rating of “Hold” and an average target price of $28.17.

Veeco Instruments Company 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.