115,074 Shares in Veeco Instruments Inc. (NASDAQ:VECO) Acquired by Mirabella Financial Services LLP

Mirabella Financial Services LLP bought a new position in shares of Veeco Instruments Inc. (NASDAQ:VECO) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 115,074 shares of the semiconductor company’s stock, valued at approximately $3,702,000. Mirabella Financial Services LLP owned 0.20% of Veeco Instruments as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of VECO. EFG Asset Management North America Corp. grew its holdings in Veeco Instruments by 0.5% during the 2nd quarter. EFG Asset Management North America Corp. now owns 67,588 shares of the semiconductor company’s stock worth $3,156,000 after acquiring an additional 319 shares in the last quarter. US Bancorp DE lifted its holdings in Veeco Instruments by 14.8% during the third quarter. US Bancorp DE now owns 3,864 shares of the semiconductor company’s stock worth $128,000 after buying an additional 498 shares during the period. Louisiana State Employees Retirement System boosted 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 valued at $1,331,000 after acquiring an additional 600 shares in the last quarter. KBC Group NV increased its holdings in shares of Veeco Instruments by 46.8% in the 3rd 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 raised its position in shares of Veeco Instruments by 130.6% in the 3rd quarter. Signaturefd LLC now owns 1,328 shares of the semiconductor company’s stock worth $44,000 after acquiring an additional 752 shares in the last quarter. 98.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Veeco Instruments Price Performance

Shares of 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. The company’s fifty day moving average price is $30.25 and its 200-day moving average price is $36.83. Veeco Instruments Inc. has a 1-year low of $25.52 and a 1-year 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.

Veeco Instruments (NASDAQ:VECO) last released its quarterly earnings data 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. Veeco Instruments had a return on equity of 10.92% and a net margin of 11.34%. The business had revenue of $184.80 million during the quarter, compared to analyst estimates of $180.57 million. During the same quarter last year, the business posted $0.41 EPS. The company’s revenue was up 4.2% on a year-over-year basis. On average, equities research analysts predict that Veeco Instruments Inc. will post 1.12 EPS for the current year.

Insiders Place Their Bets

In other news, CFO John P. Kiernan sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $32.63, for a total transaction of $81,575.00. Following the transaction, the chief financial officer now directly owns 82,642 shares in the company, valued at $2,696,608.46. The trade was a 2.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders sold 7,500 shares of company stock worth $225,850. Company insiders own 2.20% of the company’s stock.

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.