Quantitative Systematic Strategies LLC purchased a new stake in Veeco Instruments Inc. (NASDAQ:VECO) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,553 shares of the company’s stock, valued at approximately $186,000.
Other large investors also recently added to or reduced their stakes in the company. River & Mercantile Asset Management LLP boosted its stake in Veeco Instruments by 172.3% in the second quarter. River & Mercantile Asset Management LLP now owns 75,550 shares of the company’s stock valued at $1,249,000 after buying an additional 47,800 shares during the period. BNP Paribas Arbitrage SA boosted its stake in Veeco Instruments by 106.8% in the second quarter. BNP Paribas Arbitrage SA now owns 12,435 shares of the company’s stock valued at $206,000 after buying an additional 6,421 shares during the period. Springbok Capital Management LLC boosted its stake in Veeco Instruments by 64.0% in the first quarter. Springbok Capital Management LLC now owns 10,985 shares of the company’s stock valued at $214,000 after buying an additional 4,285 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in Veeco Instruments during the first quarter valued at approximately $1,289,000. Finally, Renaissance Technologies LLC boosted its stake in 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. Institutional investors and hedge funds own 94.98% of the company’s stock.
Veeco Instruments Inc. (NASDAQ:VECO) traded down 1.14% during mid-day trading on Monday, hitting $21.65. The company had a trading volume of 198,767 shares. Veeco Instruments Inc. has a one year low of $15.26 and a one year high of $22.41. The company’s market cap is $879.81 million. The company’s 50 day moving average price is $20.12 and its 200-day moving average price is $18.55.
Veeco Instruments (NASDAQ:VECO) last released its quarterly earnings data on Monday, August 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.01. Veeco Instruments had a negative return on equity of 2.37% and a negative net margin of 13.00%. The business earned $75.30 million during the quarter, compared to analyst estimates of $76.30 million. During the same quarter in the previous year, the firm posted $0.20 EPS. The business’s revenue for the quarter was down 42.7% compared to the same quarter last year. Equities research analysts anticipate that Veeco Instruments Inc. will post ($0.50) EPS for the current fiscal year.
Several equities research analysts have recently commented on the company. Zacks Investment Research upgraded Veeco Instruments from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Saturday, October 8th. Needham & Company LLC reiterated a “hold” rating on shares of Veeco Instruments in a research report on Friday, October 7th. Benchmark Co. increased their price objective on Veeco Instruments from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, September 12th. Finally, Deutsche Bank AG upgraded Veeco Instruments from a “hold” rating to a “buy” rating and increased their price objective for the stock from $16.00 to $22.00 in a research report on Tuesday, August 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. Veeco Instruments has a consensus rating of “Hold” and a consensus target price of $24.00.
Veeco Instruments Company Profile
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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