Inspire Investing LLC bought a new position in shares of Veeco Instruments Inc. (NASDAQ: VECO – Get Rating ) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 8,675 shares of the semiconductor company’s stock, valued at approximately $236,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Outfitter Financial LLC acquired a new position in shares of Veeco Instruments in the 4th quarter valued at $36,000. Private Capital Group LLC acquired a new position in shares of Veeco Instruments in the 1st quarter valued at $42,000. Cornerstone Investment Partners LLC acquired a new position in shares of Veeco Instruments in the 4th quarter valued at $210,000. Everence Capital Management Inc. acquired a new position in shares of Veeco Instruments in the 4th quarter valued at $245,000. Finally, PVG Asset Management Corp acquired a new position in shares of Veeco Instruments in the 4th quarter valued at $274,000. 97.66% of shares are owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on VECO shares. StockNews.com started coverage on shares of Veeco Instruments in a research note on Thursday, March 31st. They issued a “hold” rating on the company. Oppenheimer cut their target price on shares of Veeco Instruments from $40.00 to $35.00 in a research note on Thursday, May 5th.
Shares of NASDAQ:VECO opened at $18.37 on Friday. The company’s 50-day moving average is $20.70, and its 200-day moving average is $25.03. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.58 and a quick ratio of 1.77. Veeco Instruments Inc. has a one year low of $17.23 and a one year high of $32.40. The stock has a market cap of $941.33 million, a PE ratio of 27.01 and a beta of 1.33.
Veeco Instruments (NASDAQ:VECO – Get Rating) last posted its quarterly earnings results on Monday, May 9th. The semiconductor company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.29 by $0.02. The firm had revenue of $156.30 million for the quarter, compared to analysts’ expectations of $154.95 million. Veeco Instruments had a net margin of 6.09% and a return on equity of 15.58%. The company’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same period in the previous year, the firm reported $0.19 EPS. On average, analysts expect Veeco Instruments Inc. to post 1.25 earnings per share for the current fiscal year.
In other Veeco Instruments news, Director Dennis Thomas Saint bought 2,500 shares of the firm’s stock in a transaction on Monday, May 16th. The stock was bought at an average price of $21.60 per share, for a total transaction of $54,000.00. Following the transaction, the director now directly owns 52,429 shares in the company, valued at approximately $1,132,466.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC’s website. Also, CFO John P. Kiernan bought 5,000 shares of the firm’s stock in a transaction on Wednesday, May 11th. The shares were acquired at an average price of $20.79 per share, for a total transaction of $103,950.00. Following the transaction, the chief financial officer now owns 89,158 shares in the company, valued at $1,853,594.82. Disclosure of this purchase can be found here. 2.40% of shares are owned by corporate insiders.
Veeco Instruments Profile (Get Rating)
Veeco Instruments Inc, together with its subsidiaries, develops, manufactures, sells and supports semiconductor and thin film processing equipment primarily for the manufacture of electronic devices worldwide. The company offers laser annealing, ion beam deposition and etching, metal organic chemical vapor deposition, single wafer wet processing and surface preparation, molecular beam epitaxy and atomic layer deposition and other deposition systems, as well as lithography equipment for packaging.
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