Granahan Investment Management LLC Acquires 18,782 Shares of Veeco Instruments Inc. (NASDAQ:VECO)

Granahan Investment Management LLC raised its holdings in shares of Veeco Instruments Inc. (NASDAQ:VECOGet Rating) by 5.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 389,560 shares of the semiconductor company’s stock after purchasing an additional 18,782 shares during the quarter. Granahan Investment Management LLC owned 0.76% of Veeco Instruments worth $10,592,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of VECO. Wasatch Advisors Inc. lifted its position in Veeco Instruments by 28.7% during the first quarter. Wasatch Advisors Inc. now owns 3,221,333 shares of the semiconductor company’s stock valued at $87,588,000 after purchasing an additional 718,458 shares during the last quarter. Victory Capital Management Inc. lifted its position in Veeco Instruments by 1,006.5% during the first quarter. Victory Capital Management Inc. now owns 741,567 shares of the semiconductor company’s stock valued at $20,031,000 after purchasing an additional 674,550 shares during the last quarter. Braun Stacey Associates Inc. bought a new position in Veeco Instruments during the first quarter valued at $14,012,000. Lisanti Capital Growth LLC bought a new position in Veeco Instruments during the first quarter valued at $11,005,000. Finally, RK Capital Management LLC raised its stake in shares of Veeco Instruments by 84.8% in the first quarter. RK Capital Management LLC now owns 287,700 shares of the semiconductor company’s stock valued at $7,823,000 after acquiring an additional 132,000 shares during the period. Institutional investors own 97.93% of the company’s stock.

Veeco Instruments Trading Up 2.2 %

VECO stock opened at $20.90 on Friday. The company has a market capitalization of $1.07 billion, a PE ratio of 28.24 and a beta of 1.30. Veeco Instruments Inc. has a 12 month low of $17.23 and a 12 month high of $32.40. The firm’s 50-day moving average is $20.78 and its 200 day moving average is $22.81. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.84 and a quick ratio of 1.96.

Veeco Instruments (NASDAQ:VECOGet Rating) last posted its quarterly earnings results on Monday, August 8th. The semiconductor company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.28 by $0.07. The company had revenue of $164.00 million for the quarter, compared to the consensus estimate of $160.91 million. Veeco Instruments had a net margin of 6.44% and a return on equity of 16.23%. The firm’s revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.26 EPS. On average, research analysts anticipate that Veeco Instruments Inc. will post 1.3 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on VECO shares. Barclays reduced their target price on shares of Veeco Instruments from $32.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday, July 25th. The Goldman Sachs Group reduced their target price on shares of Veeco Instruments from $28.00 to $24.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 9th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Veeco Instruments currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.83.

Veeco Instruments Profile

(Get Rating)

Veeco Instruments Inc, together with its subsidiaries, develops, manufactures, sells, and supports semiconductor and thin film process equipment primarily to make electronic devices worldwide. 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, and atomic layer deposition and other deposition systems, as well as packaging lithography equipment.

Further Reading

Institutional Ownership by Quarter for Veeco Instruments (NASDAQ:VECO)

Receive News & Ratings for Veeco Instruments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veeco Instruments and related companies with MarketBeat.com's FREE daily email newsletter.