Veeco Instruments Inc. (NASDAQ:VECO) shares reached a new 52-week low during trading on Thursday . The stock traded as low as $6.61 and last traded at $8.06, with a volume of 112045 shares traded. The stock had previously closed at $9.51.
Several research analysts have recently commented on the company. BidaskClub raised Veeco Instruments from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Zacks Investment Research downgraded Veeco Instruments from a “buy” rating to a “hold” rating in a research note on Thursday, October 25th. Finally, Benchmark reaffirmed a “hold” rating on shares of Veeco Instruments in a research note on Wednesday, September 5th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $23.33.
The company has a quick ratio of 2.20, a current ratio of 2.94 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $454.25 million, a PE ratio of -415.50 and a beta of 0.50.
Veeco Instruments (NASDAQ:VECO) last released its earnings results on Thursday, November 1st. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.03. Veeco Instruments had a positive return on equity of 1.26% and a negative net margin of 47.49%. The firm had revenue of $126.76 million during the quarter, compared to analysts’ expectations of $135.50 million. During the same quarter last year, the business posted $0.09 earnings per share. The firm’s revenue was down 2.0% on a year-over-year basis. As a group, analysts expect that Veeco Instruments Inc. will post 0.19 earnings per share for the current fiscal year.
In other Veeco Instruments news, CEO John R. Peeler bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 10th. The stock was purchased at an average price of $11.45 per share, for a total transaction of $114,500.00. Following the completion of the transaction, the chief executive officer now owns 393,162 shares of the company’s stock, valued at approximately $4,501,704.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Shubham Maheshwari bought 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 23rd. The shares were acquired at an average price of $10.05 per share, with a total value of $50,250.00. Following the transaction, the chief financial officer now directly owns 93,323 shares of the company’s stock, valued at approximately $937,896.15. The disclosure for this purchase can be found here. Insiders have purchased 33,900 shares of company stock valued at $385,990 in the last quarter. 2.60% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. LPL Financial LLC grew its holdings in Veeco Instruments by 18.9% during the 1st quarter. LPL Financial LLC now owns 25,065 shares of the semiconductor company’s stock valued at $426,000 after buying an additional 3,988 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Veeco Instruments by 9.4% in the 2nd quarter. First Trust Advisors LP now owns 50,218 shares of the semiconductor company’s stock worth $716,000 after purchasing an additional 4,326 shares during the period. Legal & General Group Plc boosted its holdings in shares of Veeco Instruments by 5.9% in the 2nd quarter. Legal & General Group Plc now owns 109,547 shares of the semiconductor company’s stock worth $1,564,000 after purchasing an additional 6,124 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Veeco Instruments by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 370,226 shares of the semiconductor company’s stock worth $6,294,000 after purchasing an additional 8,777 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Veeco Instruments in the 2nd quarter worth approximately $147,000. Institutional investors and hedge funds own 94.02% of the company’s stock.
Veeco Instruments Company Profile (NASDAQ:VECO)
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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