Los Angeles Capital Management LLC Lowers Holdings in Veeco Instruments Inc. (NASDAQ:VECO)

Los Angeles Capital Management LLC lessened its stake in Veeco Instruments Inc. (NASDAQ:VECOFree Report) by 38.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,077 shares of the semiconductor company’s stock after selling 8,860 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Veeco Instruments were worth $437,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. NBC Securities Inc. purchased a new stake in Veeco Instruments in the 3rd quarter worth approximately $26,000. Federated Hermes Inc. acquired a new position in shares of Veeco Instruments in the third quarter worth about $33,000. Covestor Ltd boosted its stake in shares of Veeco Instruments by 1,311.0% during the 3rd quarter. Covestor Ltd now owns 1,284 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 1,193 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Veeco Instruments by 28.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,543 shares of the semiconductor company’s stock valued at $100,000 after purchasing an additional 782 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in Veeco Instruments during the third quarter worth approximately $211,000. 98.46% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Veeco Instruments news, SVP Adrian Devasahayam sold 5,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $34.10, for a total value of $170,500.00. Following the transaction, the senior vice president now directly owns 67,278 shares in the company, valued at approximately $2,294,179.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO William John Miller sold 30,000 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $38.19, for a total transaction of $1,145,700.00. Following the completion of the sale, the chief executive officer now directly owns 515,091 shares of the company’s stock, valued at approximately $19,671,325.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Adrian Devasahayam sold 5,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $34.10, for a total transaction of $170,500.00. Following the completion of the sale, the senior vice president now owns 67,278 shares in the company, valued at $2,294,179.80. The disclosure for this sale can be found here. Insiders have sold 59,201 shares of company stock valued at $2,170,495 over the last ninety days. Company insiders own 2.40% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on VECO. Barclays boosted their price objective on Veeco Instruments from $33.00 to $35.00 and gave the company an “equal weight” rating in a research report on Wednesday. Citigroup boosted their target price on shares of Veeco Instruments from $36.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. The Goldman Sachs Group raised their price target on shares of Veeco Instruments from $35.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday. Needham & Company LLC boosted their price objective on Veeco Instruments from $43.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Benchmark increased their target price on Veeco Instruments from $34.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Veeco Instruments currently has an average rating of “Moderate Buy” and a consensus target price of $39.00.

View Our Latest Analysis on VECO

Veeco Instruments Stock Down 0.2 %

VECO stock opened at $38.01 on Friday. Veeco Instruments Inc. has a 1 year low of $20.44 and a 1 year high of $40.30. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.15 and a current ratio of 3.05. The business has a 50 day simple moving average of $35.40 and a 200-day simple moving average of $32.10.

Veeco Instruments (NASDAQ:VECOGet Free Report) last issued its earnings results on Wednesday, February 14th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.09. Veeco Instruments had a positive return on equity of 11.97% and a negative net margin of 2.51%. The company had revenue of $173.92 million during the quarter, compared to analysts’ expectations of $170.00 million. Sell-side analysts anticipate that Veeco Instruments Inc. will post 1.39 EPS for the current year.

Veeco Instruments Company Profile

(Free Report)

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.

See Also

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

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