BNP Paribas Arbitrage SA decreased its position in Veeco Instruments Inc. (NASDAQ:VECO) by 50.2% during the third quarter, Holdings Channel reports. The institutional investor owned 6,188 shares of the company’s stock after selling 6,247 shares during the period. BNP Paribas Arbitrage SA’s holdings in Veeco Instruments were worth $121,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of VECO. Renaissance Technologies LLC increased its stake in shares of Veeco Instruments by 18.6% in the first quarter. Renaissance Technologies LLC now owns 1,290,500 shares of the company’s stock valued at $25,139,000 after buying an additional 202,140 shares during the period. Prudential Financial Inc. increased its stake in shares of Veeco Instruments by 0.7% in the first quarter. Prudential Financial Inc. now owns 95,573 shares of the company’s stock valued at $1,862,000 after buying an additional 700 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of Veeco Instruments during the first quarter valued at about $1,999,000. BlackRock Group LTD increased its stake in shares of Veeco Instruments by 0.5% in the first quarter. BlackRock Group LTD now owns 752,718 shares of the company’s stock valued at $14,662,000 after buying an additional 3,757 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Veeco Instruments during the first quarter valued at about $1,289,000. Institutional investors own 94.95% of the company’s stock.
Veeco Instruments Inc. (NASDAQ:VECO) opened at 21.65 on Friday. The company’s market capitalization is $879.81 million. The company has a 50-day moving average of $20.02 and a 200-day moving average of $18.51. Veeco Instruments Inc. has a 52 week low of $15.26 and a 52 week high of $22.41.
Veeco Instruments (NASDAQ:VECO) last released its earnings results on Monday, August 1st. The company reported ($0.19) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.01. The firm had revenue of $75.30 million for the quarter, compared to analysts’ expectations of $76.30 million. Veeco Instruments had a negative net margin of 13.00% and a negative return on equity of 2.37%. The company’s quarterly revenue was down 42.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.20 earnings per share. On average, equities research analysts anticipate that Veeco Instruments Inc. will post ($0.50) EPS for the current year.
Several equities research analysts recently issued reports on VECO shares. Zacks Investment Research upgraded shares of Veeco Instruments from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Saturday, October 8th. Benchmark Co. cut their target price on shares of Veeco Instruments from $23.00 to $21.00 and set a “buy” rating for the company in a research note on Tuesday, August 2nd. Deutsche Bank AG upgraded shares of Veeco Instruments from a “hold” rating to a “buy” rating and raised their price objective for the stock from $16.00 to $22.00 in a research report on Tuesday, August 2nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Veeco Instruments in a research report on Friday, October 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $24.00.
About Veeco Instruments
Veeco Instruments Inc designs, manufactures, markets and supports thin film equipment. The Company’s equipment is used to make electronic devices, including light emitting diodes (LED), micro-electromechanical systems (MEMS), wireless devices, power electronics, hard disk drives (HDDs) and semiconductors.
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