Veeco Instruments Inc. $VECO Shares Sold by SG Capital Management LLC

SG Capital Management LLC lowered its position in Veeco Instruments Inc. (NASDAQ:VECO) by 16.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 678,169 shares of the semiconductor company’s stock after selling 129,945 shares during the quarter. Veeco Instruments comprises about 1.8% of SG Capital Management LLC’s holdings, making the stock its 18th biggest holding. SG Capital Management LLC owned approximately 1.13% of Veeco Instruments worth $20,637,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its holdings in shares of Veeco Instruments by 75.6% in the second quarter. Smartleaf Asset Management LLC now owns 2,366 shares of the semiconductor company’s stock valued at $49,000 after purchasing an additional 1,019 shares in the last quarter. Hantz Financial Services Inc. grew its stake in shares of Veeco Instruments by 49,728.6% in the second quarter. Hantz Financial Services Inc. now owns 3,488 shares of the semiconductor company’s stock worth $71,000 after acquiring an additional 3,481 shares in the last quarter. CWM LLC increased its position in shares of Veeco Instruments by 329.7% during the second quarter. CWM LLC now owns 4,632 shares of the semiconductor company’s stock worth $94,000 after acquiring an additional 3,554 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Veeco Instruments by 152.4% in the second quarter. Tower Research Capital LLC TRC now owns 6,160 shares of the semiconductor company’s stock valued at $125,000 after acquiring an additional 3,719 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Veeco Instruments by 9.9% in the second quarter. Russell Investments Group Ltd. now owns 6,421 shares of the semiconductor company’s stock valued at $130,000 after purchasing an additional 580 shares during the period. 98.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Citigroup lifted their price objective on Veeco Instruments from $29.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Veeco Instruments in a research note on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Veeco Instruments currently has a consensus rating of “Hold” and a consensus price target of $27.50.

Insider Activity

In other news, CEO William John Miller sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $32.00, for a total transaction of $800,000.00. Following the completion of the sale, the chief executive officer owned 464,543 shares in the company, valued at $14,865,376. This represents a 5.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.40% of the stock is currently owned by corporate insiders.

Veeco Instruments Stock Down 14.6%

VECO stock opened at $29.32 on Thursday. The company has a market cap of $1.77 billion, a price-to-earnings ratio of 35.33 and a beta of 1.19. The company has a fifty day moving average price of $31.32 and a 200 day moving average price of $28.96. The company has a debt-to-equity ratio of 0.26, a current ratio of 5.36 and a quick ratio of 3.62. Veeco Instruments Inc. has a 12 month low of $16.92 and a 12 month high of $35.77.

Veeco Instruments Company Profile

Veeco Instruments Inc (NASDAQ: VECO) is a leading supplier of process equipment for the semiconductor, data storage, wireless communications, power electronics and advanced packaging industries. The company designs, manufactures and services precision tools used to grow, deposit and etch thin films on substrates, enabling the fabrication of chips, light-emitting diodes (LEDs), micro-electromechanical systems (MEMS) and high-density storage devices. Veeco’s platforms are deployed across fabrication facilities worldwide, where they support key processes in materials science and device manufacturing.

Veeco’s product portfolio spans molecular beam epitaxy (MBE), metal organic chemical vapor deposition (MOCVD), atomic layer deposition (ALD), ion beam etch and deposition, and high-precision wet and dry etch systems.