Veeco Instruments (VECO) Trading Up 1.7%

Veeco Instruments Inc. (NASDAQ:VECO) was up 1.7% on Monday . The company traded as high as $8.90 and last traded at $8.95. Approximately 25,578 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 687,589 shares. The stock had previously closed at $8.80.

A number of equities research analysts have weighed in on VECO shares. BidaskClub downgraded Veeco Instruments from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 26th. Benchmark reiterated a “hold” rating on shares of Veeco Instruments in a research report on Wednesday, September 5th. Finally, Zacks Investment Research upgraded Veeco Instruments from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Wednesday, October 24th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $24.00.

The stock has a market cap of $429.36 million, a P/E ratio of -447.00 and a beta of 0.69. The company has a quick ratio of 2.28, a current ratio of 3.15 and a debt-to-equity ratio of 0.49.

Veeco Instruments (NASDAQ:VECO) last announced its quarterly earnings data on Thursday, November 1st. The semiconductor company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. Veeco Instruments had a positive return on equity of 1.93% and a negative net margin of 45.70%. The company had revenue of $126.76 million during the quarter, compared to the consensus estimate of $135.50 million. During the same quarter in the prior year, the firm earned $0.09 EPS. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, research analysts expect that Veeco Instruments Inc. will post 0.19 earnings per share for the current year.

In other Veeco Instruments news, CFO Shubham Maheshwari bought 5,000 shares of Veeco Instruments stock in a transaction dated Thursday, August 23rd. The stock was bought at an average price of $10.05 per share, for a total transaction of $50,250.00. Following the completion of the acquisition, the chief financial officer now directly owns 93,323 shares of the company’s stock, valued at $937,896.15. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO John R. Peeler bought 10,000 shares of Veeco Instruments stock in a transaction dated Friday, August 10th. The stock was acquired at an average price of $11.45 per share, with a total value of $114,500.00. Following the acquisition, the chief executive officer now directly owns 393,162 shares of the company’s stock, valued at $4,501,704.90. The disclosure for this purchase can be found here. Insiders have bought a total of 33,900 shares of company stock valued at $385,990 in the last quarter. Insiders own 2.60% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Veeco Instruments in the second quarter valued at $147,000. Trexquant Investment LP purchased a new stake in shares of Veeco Instruments in the second quarter valued at $201,000. Russell Investments Group Ltd. lifted its holdings in shares of Veeco Instruments by 443.6% in the third quarter. Russell Investments Group Ltd. now owns 21,200 shares of the semiconductor company’s stock valued at $217,000 after purchasing an additional 17,300 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Veeco Instruments in the first quarter valued at $228,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Veeco Instruments in the second quarter valued at $257,000. Institutional investors own 94.03% of the company’s stock.

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About Veeco Instruments (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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