Avior Wealth Management LLC Purchases 2,231 Shares of Veeco Instruments Inc. (NASDAQ:VECO)

Avior Wealth Management LLC boosted its holdings in shares of Veeco Instruments Inc. (NASDAQ:VECO) by 34.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,754 shares of the semiconductor company’s stock after acquiring an additional 2,231 shares during the quarter. Avior Wealth Management LLC’s holdings in Veeco Instruments were worth $290,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in VECO. EFG Asset Management North America Corp. raised its position in shares of Veeco Instruments by 0.5% in the second 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 during the period. US Bancorp DE raised its holdings in Veeco Instruments by 14.8% in the 3rd quarter. US Bancorp DE now owns 3,864 shares of the semiconductor company’s stock worth $128,000 after acquiring an additional 498 shares during the period. Louisiana State Employees Retirement System lifted its position 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 acquiring an additional 600 shares during the last quarter. KBC Group NV boosted its holdings in Veeco Instruments by 46.8% during the third 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 period. Finally, Signaturefd LLC grew its position in shares of Veeco Instruments by 130.6% in the third quarter. Signaturefd LLC now owns 1,328 shares of the semiconductor company’s stock valued at $44,000 after purchasing an additional 752 shares during the last quarter. 98.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on VECO. StockNews.com raised Veeco Instruments from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Needham & Company LLC reissued a “buy” rating and issued a $55.00 price objective on shares of Veeco Instruments in a research report on Wednesday, August 7th. Northland Securities dropped their target price on shares of Veeco Instruments from $53.00 to $47.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. The Goldman Sachs Group reduced their price target on shares of Veeco Instruments from $35.00 to $30.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Finally, Oppenheimer decreased 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 report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.14.

Insider Transactions at Veeco Instruments

In other news, CFO John P. Kiernan sold 2,500 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $28.67, for a total value of $71,675.00. Following the sale, the chief financial officer now owns 80,142 shares in the company, valued at approximately $2,297,671.14. The trade was a 3.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders sold 7,500 shares of company stock valued at $225,850. Corporate insiders own 2.40% of the company’s stock.

Veeco Instruments Trading Up 3.2 %

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

Veeco Instruments (NASDAQ:VECO) last posted its earnings results on Wednesday, November 6th. The semiconductor company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. The business had revenue of $184.80 million for the quarter, compared to analysts’ expectations of $180.57 million. Veeco Instruments had a net margin of 11.34% and a return on equity of 10.92%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.41 earnings per share. On average, analysts expect that Veeco Instruments Inc. will post 1.12 EPS for the current 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 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.