Peter J. Simone Sells 4,549 Shares of Veeco Instruments Inc. (NASDAQ:VECO) Stock

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Veeco Instruments Inc. (NASDAQ:VECO) Director Peter J. Simone sold 4,549 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $16.46, for a total value of $74,876.54. Following the completion of the transaction, the director now directly owns 36,757 shares in the company, valued at approximately $605,020.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of NASDAQ:VECO opened at $15.56 on Friday. The company has a market cap of $824.02 million, a P/E ratio of -389.00 and a beta of 1.38. Veeco Instruments Inc. has a 12-month low of $6.27 and a 12-month high of $17.23. The company’s fifty day moving average is $12.57 and its two-hundred day moving average is $11.85. The company has a quick ratio of 2.36, a current ratio of 3.42 and a debt-to-equity ratio of 0.75.

Veeco Instruments (NASDAQ:VECO) last issued its quarterly earnings data on Monday, November 4th. The semiconductor company reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.06. The firm had revenue of $108.95 million during the quarter, compared to analysts’ expectations of $104.37 million. Veeco Instruments had a negative net margin of 47.03% and a negative return on equity of 6.97%. Veeco Instruments’s revenue for the quarter was down 14.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.11 earnings per share. Equities research analysts anticipate that Veeco Instruments Inc. will post -0.44 earnings per share for the current year.

VECO has been the topic of several research reports. Zacks Investment Research raised Veeco Instruments from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Friday. ValuEngine raised Veeco Instruments from a “strong sell” rating to a “sell” rating in a report on Tuesday, November 5th. Benchmark reaffirmed a “buy” rating and issued a $18.00 price target (up previously from $15.00) on shares of Veeco Instruments in a report on Tuesday, November 5th. BidaskClub raised Veeco Instruments from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. Finally, Northland Securities set a $19.00 price target on Veeco Instruments and gave the company a “buy” rating in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Veeco Instruments presently has a consensus rating of “Buy” and an average target price of $16.75.

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Veeco Instruments by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 4,915,200 shares of the semiconductor company’s stock worth $60,064,000 after acquiring an additional 58,146 shares during the last quarter. Invesco Ltd. lifted its position in Veeco Instruments by 720.1% during the 2nd quarter. Invesco Ltd. now owns 4,759,206 shares of the semiconductor company’s stock worth $58,157,000 after acquiring an additional 4,178,877 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its position in Veeco Instruments by 7.4% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,212,306 shares of the semiconductor company’s stock worth $14,814,000 after acquiring an additional 83,300 shares during the last quarter. Renaissance Technologies LLC lifted its position in Veeco Instruments by 25.5% during the 2nd quarter. Renaissance Technologies LLC now owns 887,213 shares of the semiconductor company’s stock worth $10,842,000 after acquiring an additional 180,100 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Veeco Instruments by 4.2% during the 2nd quarter. Northern Trust Corp now owns 613,982 shares of the semiconductor company’s stock worth $7,502,000 after acquiring an additional 24,507 shares during the last quarter. 88.05% of the stock is owned by hedge funds and other institutional investors.

About Veeco Instruments

Veeco Instruments Inc, together with its subsidiaries, develops, manufactures, sells, and supports semiconductor and thin film process equipment primarily to make electronic devices worldwide. It offers metal organic chemical vapor deposition systems; packaging lithography equipment; precision surface processing systems; laser annealing systems; ion beam deposition and etch systems; molecular beam epitaxy systems; 3D wafer inspection systems; and atomic layer deposition and other deposition systems.

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