Royce & Associates LP raised its holdings in shares of Veeco Instruments Inc. (NASDAQ:VECO) by 36.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 838,082 shares of the semiconductor company’s stock after buying an additional 224,600 shares during the period. Royce & Associates LP’s holdings in Veeco Instruments were worth $8,590,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. First Trust Advisors LP boosted its position in Veeco Instruments by 9.4% during the second quarter. First Trust Advisors LP now owns 50,218 shares of the semiconductor company’s stock valued at $716,000 after buying an additional 4,326 shares during the period. Legal & General Group Plc raised its stake in shares of Veeco Instruments by 5.9% during the second quarter. Legal & General Group Plc now owns 109,547 shares of the semiconductor company’s stock valued at $1,564,000 after acquiring an additional 6,124 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Veeco Instruments by 2.4% during the first quarter. Principal Financial Group Inc. now owns 370,226 shares of the semiconductor company’s stock valued at $6,294,000 after acquiring an additional 8,777 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Veeco Instruments during the second quarter valued at about $147,000. Finally, Millennium Management LLC raised its stake in shares of Veeco Instruments by 131.3% during the first quarter. Millennium Management LLC now owns 23,928 shares of the semiconductor company’s stock valued at $407,000 after acquiring an additional 13,582 shares during the last quarter. Institutional investors and hedge funds own 90.47% of the company’s stock.
Several equities analysts have recently commented on the stock. BidaskClub raised shares of Veeco Instruments from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 1st. Zacks Investment Research downgraded shares of Veeco Instruments from a “buy” rating to a “hold” rating in a research note on Thursday, October 25th. Benchmark reaffirmed a “hold” rating on shares of Veeco Instruments in a research note on Wednesday, September 5th. Finally, ValuEngine downgraded shares of Veeco Instruments from a “hold” rating to a “sell” rating in a research note on Monday, November 12th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $24.00.
Veeco Instruments (NASDAQ:VECO) last issued its quarterly earnings data on Thursday, November 1st. The semiconductor company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.08 by $0.03. The firm had revenue of $126.76 million during the quarter, compared to the consensus estimate of $135.50 million. Veeco Instruments had a negative net margin of 45.70% and a positive return on equity of 1.93%. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.09 earnings per share. On average, equities analysts anticipate that Veeco Instruments Inc. will post -0.01 earnings per share for the current year.
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About Veeco Instruments
Veeco Instruments Inc, together with its subsidiaries, develops, manufactures, sells, and supports semiconductor process equipment worldwide. It offers metal organic chemical vapor deposition systems; packaging lithography equipment; precision surface processing systems; laser annealing systems; ion beam etch and deposition systems; molecular beam epitaxy systems; 3D wafer inspection systems; and atomic layer deposition and other deposition systems.
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