Atreides Management LP Makes New $7.92 Million Investment in Veeco Instruments Inc. $VECO

Key Points

• Atreides Management initiated a $7.92 million position in Veeco Instruments, purchasing 233,923 shares, while institutional investors collectively own 98.46% of the company.
• Analyst sentiment remains mixed, with two Buy, four Hold and one Sell rating; the consensus view is Hold, with an average price target of $40.60.
• Veeco reported quarterly EPS of $0.14, below the $0.20 estimate, while revenue fell 5.4% year over year to $158.34 million. Meanwhile, insiders sold roughly $20.7 million of stock over the past three months.

Atreides Management LP bought a new stake in shares of Veeco Instruments Inc. (NASDAQ:VECO - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 233,923 shares of the semiconductor company's stock, valued at approximately $7,921,000. Atreides Management LP owned 0.38% of Veeco Instruments as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. State of Alaska Department of Revenue raised its position in Veeco Instruments by 1.1% during the fourth quarter. State of Alaska Department of Revenue now owns 32,882 shares of the semiconductor company's stock valued at $939,000 after buying an additional 361 shares during the period. Vise Technologies Inc. boosted its position in Veeco Instruments by 5.3% during the 4th quarter. Vise Technologies Inc. now owns 7,503 shares of the semiconductor company's stock worth $214,000 after acquiring an additional 377 shares during the period. Mercer Global Advisors Inc. ADV grew its stake in Veeco Instruments by 4.4% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 10,986 shares of the semiconductor company's stock valued at $314,000 after acquiring an additional 462 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Veeco Instruments by 9.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 6,421 shares of the semiconductor company's stock valued at $130,000 after acquiring an additional 580 shares in the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of Veeco Instruments by 0.7% in the 1st quarter. Royal Bank of Canada now owns 97,050 shares of the semiconductor company's stock valued at $3,286,000 after purchasing an additional 632 shares during the period. Hedge funds and other institutional investors own 98.46% of the company's stock.

Wall Street Analysts Forecast Growth

VECO has been the subject of a number of research reports. Weiss Ratings raised shares of Veeco Instruments from a "sell (d)" rating to a "sell (d+)" rating in a research note on Tuesday, June 30th. Zacks Research lowered Veeco Instruments from a "strong-buy" rating to a "hold" rating in a report on Monday, July 6th. Citigroup increased their price objective on Veeco Instruments from $40.00 to $60.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. Wall Street Zen raised Veeco Instruments to a "hold" rating in a research report on Saturday, June 6th. Finally, Barclays boosted their target price on Veeco Instruments from $30.00 to $55.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 19th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $40.60.

Veeco Instruments Stock Performance

VECO opened at $45.68 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.86 and a current ratio of 4.23. The company has a market cap of $2.79 billion, a PE ratio of 120.21 and a beta of 1.34. The stock has a 50-day moving average of $62.52 and a 200-day moving average of $46.42. Veeco Instruments Inc. has a 52-week low of $19.29 and a 52-week high of $86.63.

Veeco Instruments (NASDAQ:VECO - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.06). Veeco Instruments had a net margin of 3.53% and a return on equity of 3.49%. The company had revenue of $158.34 million during the quarter, compared to the consensus estimate of $160.07 million. During the same period in the previous year, the business posted $0.37 earnings per share. The firm's revenue was down 5.4% on a year-over-year basis. Veeco Instruments has set its Q2 2026 guidance at 0.200-0.320 EPS and its FY 2026 guidance at 1.500-1.850 EPS. As a group, equities research analysts forecast that Veeco Instruments Inc. will post 1.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Adrian Devasahayam sold 10,000 shares of the business's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $65.00, for a total value of $650,000.00. Following the completion of the sale, the senior vice president directly owned 85,115 shares in the company, valued at approximately $5,532,475. The trade was a 10.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gordon Hunter sold 16,974 shares of the business's stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $68.80, for a total value of $1,167,811.20. Following the transaction, the director directly owned 11,236 shares of the company's stock, valued at $773,036.80. This represents a 60.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 339,055 shares of company stock valued at $20,705,270 in the last three months. Company insiders own 2.70% of the company's stock.

About Veeco Instruments

Veeco Instruments Inc NASDAQ: VECO is a leading supplier of process equipment for the semiconductor, data storage, wireless communications, power electronics and advanced packaging industries. The company designs, manufactures and services precision tools used to grow, deposit and etch thin films on substrates, enabling the fabrication of chips, light-emitting diodes (LEDs), micro-electromechanical systems (MEMS) and high-density storage devices. Veeco's platforms are deployed across fabrication facilities worldwide, where they support key processes in materials science and device manufacturing.

Veeco's product portfolio spans molecular beam epitaxy (MBE), metal organic chemical vapor deposition (MOCVD), atomic layer deposition (ALD), ion beam etch and deposition, and high-precision wet and dry etch systems.

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