Westfield Capital Management Co. LP Has $38.95 Million Stake in Veeco Instruments Inc. (NASDAQ:VECO)

Westfield Capital Management Co. LP lifted its stake in Veeco Instruments Inc. (NASDAQ:VECO) by 37.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,175,759 shares of the semiconductor company’s stock after buying an additional 319,451 shares during the period. Westfield Capital Management Co. LP owned approximately 2.07% of Veeco Instruments worth $38,953,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Signaturefd LLC lifted 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 valued at $44,000 after acquiring an additional 752 shares during the period. KBC Group NV lifted its position in Veeco Instruments by 46.8% during the third quarter. KBC Group NV now owns 2,088 shares of the semiconductor company’s stock worth $69,000 after purchasing an additional 666 shares during the period. GAMMA Investing LLC grew its stake in Veeco Instruments by 237.4% during the second quarter. GAMMA Investing LLC now owns 1,677 shares of the semiconductor company’s stock worth $78,000 after buying an additional 1,180 shares in the last quarter. nVerses Capital LLC increased its holdings in Veeco Instruments by 733.3% in the 2nd quarter. nVerses Capital LLC now owns 2,500 shares of the semiconductor company’s stock valued at $117,000 after buying an additional 2,200 shares during the period. Finally, US Bancorp DE raised its position in shares of Veeco Instruments by 14.8% in the 3rd 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. Institutional investors and hedge funds own 98.46% of the company’s stock.

Insider Activity at Veeco Instruments

In related news, CFO John P. Kiernan sold 2,500 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $29.04, for a total value of $72,600.00. Following the transaction, the chief financial officer now owns 85,142 shares in the company, valued at $2,472,523.68. The trade was a 2.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 7,500 shares of company stock worth $225,850 over the last ninety days. Insiders own 2.20% of the company’s stock.

Veeco Instruments Stock Up 3.2 %

NASDAQ:VECO opened at $27.40 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.54 and a quick ratio of 2.41. Veeco Instruments Inc. has a one year low of $25.52 and a one year high of $49.25. The firm’s 50 day simple moving average is $30.25 and its 200 day simple moving average is $36.83. The company has a market cap of $1.56 billion, a PE ratio of 20.30 and a beta of 1.17.

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

Analysts Set New Price Targets

VECO has been the subject of several research analyst reports. StockNews.com upgraded shares of Veeco Instruments from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Needham & Company LLC restated a “buy” rating and set a $55.00 price objective on shares of Veeco Instruments in a research report on Wednesday, August 7th. Oppenheimer reduced their price objective on Veeco Instruments from $45.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Benchmark lowered their target price on Veeco Instruments from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Finally, Northland Securities decreased their price target on shares of Veeco Instruments from $53.00 to $47.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Veeco Instruments presently has a consensus rating of “Moderate Buy” and an average target price of $42.14.

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 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.