41,281 Shares in Veeco Instruments Inc. (NASDAQ:VECO) Acquired by B. Metzler seel. Sohn & Co. Holding AG

B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Veeco Instruments Inc. (NASDAQ:VECOFree Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 41,281 shares of the semiconductor company’s stock, valued at approximately $1,368,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in VECO. EFG Asset Management North America Corp. raised its holdings in shares of Veeco Instruments by 0.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 67,588 shares of the semiconductor company’s stock valued at $3,156,000 after purchasing an additional 319 shares in the last quarter. US Bancorp DE raised its stake in Veeco Instruments by 14.8% in the third quarter. US Bancorp DE now owns 3,864 shares of the semiconductor company’s stock valued at $128,000 after buying an additional 498 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in Veeco Instruments by 2.2% during the 2nd quarter. Louisiana State Employees Retirement System now owns 28,500 shares of the semiconductor company’s stock worth $1,331,000 after buying an additional 600 shares during the last quarter. KBC Group NV increased its holdings in shares of Veeco Instruments by 46.8% in the 3rd quarter. KBC Group NV now owns 2,088 shares of the semiconductor company’s stock valued at $69,000 after acquiring an additional 666 shares during the last quarter. Finally, Signaturefd LLC raised its position in shares of Veeco Instruments by 130.6% during the 3rd quarter. Signaturefd LLC now owns 1,328 shares of the semiconductor company’s stock worth $44,000 after acquiring an additional 752 shares in the last quarter. Institutional investors and hedge funds own 98.46% of the company’s stock.

Veeco Instruments Trading Up 3.2 %

Shares of Veeco Instruments stock opened at $27.40 on Friday. The company has a quick ratio of 2.41, a current ratio of 3.54 and a debt-to-equity ratio of 0.33. The company’s 50-day simple moving average is $30.25 and its 200-day simple moving average is $36.85. Veeco Instruments Inc. has a 52-week low of $25.52 and a 52-week high of $49.25. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of 20.30 and a beta of 1.17.

Veeco Instruments (NASDAQ:VECOGet Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. Veeco Instruments had a net margin of 11.34% and a return on equity of 10.92%. The business had revenue of $184.80 million for the quarter, compared to analysts’ expectations of $180.57 million. During the same period in the prior year, the company posted $0.41 EPS. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, equities research analysts anticipate that Veeco Instruments Inc. will post 1.12 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO John P. Kiernan sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $32.63, for a total transaction of $81,575.00. Following the completion of the transaction, the chief financial officer now directly owns 82,642 shares of the company’s stock, valued at $2,696,608.46. This trade represents a 2.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders sold 7,500 shares of company stock valued at $225,850. 2.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on VECO shares. Oppenheimer dropped their price target on shares of Veeco Instruments from $45.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Northland Securities cut their price target on shares of Veeco Instruments from $53.00 to $47.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. The Goldman Sachs Group decreased their price objective on shares of Veeco Instruments from $35.00 to $30.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Benchmark reduced their target price on Veeco Instruments from $42.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Finally, Needham & Company LLC restated a “buy” rating and set a $55.00 price target on shares of Veeco Instruments in a research note on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $42.14.

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Veeco Instruments Profile

(Free Report)

Veeco Instruments Inc, together with its subsidiaries, develops, manufactures, sells, and supports semiconductor and thin film process equipment primarily to make electronic devices in the United States, Europe, the Middle East, and Africa, China, Rest of the Asia-Pacific, and internationally. The company offers laser annealing, ion beam deposition and etch, metal organic chemical vapor deposition, single wafer wet processing and surface preparation, molecular beam epitaxy, advanced packaging lithography, atomic layer deposition, and other deposition systems.

See Also

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Institutional Ownership by Quarter for Veeco Instruments (NASDAQ:VECO)

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