Veeco Target of Unusually Large Options Trading (VECO)

Veeco (NASDAQ:VECO) was the target of unusually large options trading activity on Tuesday. Stock investors acquired 401 call options on the stock. This represents an increase of approximately 591% compared to the typical daily volume of 58 call options.

Several brokerages have recently commented on VECO. TheStreet upgraded shares of Veeco from a “d+” rating to a “c” rating in a research report on Monday, March 12th. Zacks Investment Research downgraded shares of Veeco from a “hold” rating to a “sell” rating in a report on Saturday, January 6th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $28.67.

Shares of NASDAQ VECO opened at $16.80 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.13 and a current ratio of 2.67. The firm has a market capitalization of $772.42, a price-to-earnings ratio of -840.00 and a beta of 0.57. Veeco has a 52-week low of $10.85 and a 52-week high of $34.38.

Veeco (NASDAQ:VECO) last announced its quarterly earnings results on Monday, February 12th. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.10. The company had revenue of $143.40 million for the quarter, compared to the consensus estimate of $143.85 million. Veeco had a negative net margin of 9.24% and a negative return on equity of 0.12%. Veeco’s revenue for the quarter was up 53.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.09 EPS. equities analysts forecast that Veeco will post 0.3 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the company. Frontier Capital Management Co. LLC increased its holdings in shares of Veeco by 0.7% in the 4th quarter. Frontier Capital Management Co. LLC now owns 2,614,375 shares of the semiconductor company’s stock worth $38,823,000 after buying an additional 17,998 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of Veeco by 71.8% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 16,414 shares of the semiconductor company’s stock worth $351,000 after buying an additional 6,858 shares during the last quarter. Westpac Banking Corp increased its holdings in shares of Veeco by 115.2% in the 4th quarter. Westpac Banking Corp now owns 147,180 shares of the semiconductor company’s stock worth $2,186,000 after buying an additional 78,780 shares during the last quarter. New York State Common Retirement Fund increased its holdings in shares of Veeco by 7.1% in the 3rd quarter. New York State Common Retirement Fund now owns 531,097 shares of the semiconductor company’s stock worth $11,365,000 after buying an additional 35,300 shares during the last quarter. Finally, Pinnacle Advisory Group Inc. increased its holdings in shares of Veeco by 14.7% in the 4th quarter. Pinnacle Advisory Group Inc. now owns 282,258 shares of the semiconductor company’s stock worth $4,192,000 after buying an additional 36,200 shares during the last quarter. Hedge funds and other institutional investors own 99.86% of the company’s stock.

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Veeco Company Profile

Veeco Instruments Inc, together with its subsidiaries, develops, manufactures, sells, and supports semiconductor process equipment worldwide. It offers metal organic chemical vapor deposition systems; packaging lithography equipment; precision surface processing systems; laser annealing systems; ion beam etch and deposition systems; molecular beam epitaxy systems; 3D wafer inspection systems; and atomic layer deposition and other deposition systems.

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