Bank of America Corp DE Buys New Position in Veeco Instruments Inc. $VECO

Key Points

• Bank of America acquired 307,404 Veeco shares worth approximately $23.3 million, representing a 0.50% stake. Institutional investors collectively own 98.46% of the company.
• Veeco insiders sold significant holdings under pre-arranged Rule 10b5-1 plans: the CFO sold 35,000 shares and the CEO sold 200,000 shares. Insiders now own 2.70% of the stock.
• Veeco exceeded quarterly earnings and revenue expectations, reporting $0.33 EPS and $193.48 million in revenue, up 16.5% year over year. Despite some analyst upgrades, the consensus rating remains Hold, with a $61.33 price target.

Bank of America Corp DE bought a new stake in shares of Veeco Instruments Inc. (NASDAQ:VECO - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 307,404 shares of the semiconductor company's stock, valued at approximately $23,301,000. Bank of America Corp DE owned 0.50% of Veeco Instruments as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Veeco Instruments in the 2nd quarter valued at $728,127,000. Paradigm Capital Management Inc. NY acquired a new stake in Veeco Instruments during the 2nd quarter worth about $156,557,000. The Manufacturers Life Insurance Company bought a new position in shares of Veeco Instruments in the 2nd quarter worth about $134,434,000. Magnetar Financial LLC bought a new position in shares of Veeco Instruments in the 4th quarter worth about $48,342,000. Finally, Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Veeco Instruments in the 2nd quarter valued at about $65,836,000. Institutional investors own 98.46% of the company's stock.

Insider Transactions at Veeco Instruments

In related news, CFO John P. Kiernan sold 35,000 shares of the firm's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $51.05, for a total value of $1,786,750.00. Following the transaction, the chief financial officer owned 68,802 shares of the company's stock, valued at approximately $3,512,342.10. This trade represents a 33.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Miller sold 200,000 shares of Veeco Instruments stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $54.18, for a total value of $10,836,000.00. Following the transaction, the chief executive officer owned 169,570 shares of the company's stock, valued at $9,187,302.60. This trade represents a 54.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.70% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on VECO shares. Zacks Research lowered Veeco Instruments from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 6th. Wall Street Zen raised Veeco Instruments from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 12th. Northland Securities upgraded Veeco Instruments from a "market perform" rating to an "outperform" rating and set a $66.00 price target on the stock in a report on Monday. Citigroup increased their price target on Veeco Instruments from $60.00 to $63.00 and gave the stock a "buy" rating in a report on Monday, August 10th. Finally, Weiss Ratings downgraded shares of Veeco Instruments from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, August 21st. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Veeco Instruments currently has an average rating of "Hold" and a consensus price target of $61.33.

Veeco Instruments Stock Performance

Shares of Veeco Instruments stock opened at $45.92 on Thursday. Veeco Instruments Inc. has a one year low of $26.00 and a one year high of $86.63. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of 127.56 and a beta of 1.37. The business has a 50-day simple moving average of $47.82 and a 200 day simple moving average of $50.81. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.93 and a quick ratio of 2.69.

Veeco Instruments (NASDAQ:VECO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07. Veeco Instruments had a return on equity of 3.52% and a net margin of 3.40%.The business had revenue of $193.48 million for the quarter, compared to analyst estimates of $180.08 million. During the same quarter in the prior year, the company earned $0.20 earnings per share. The company's quarterly revenue was up 16.5% on a year-over-year basis. Veeco Instruments has set its FY 2026 guidance at 1.360-1.610 EPS and its Q3 2026 guidance at 0.350-0.490 EPS. On average, research analysts anticipate that Veeco Instruments Inc. will post 0.95 earnings per share for the current fiscal year.

Veeco Instruments Company Profile

Veeco Instruments Inc develops and manufactures specialized equipment used in the production of semiconductors and other advanced electronic components. Its systems support processes such as thin-film deposition, etching, lithography-related applications, and thermal processing, helping manufacturers create and refine microscopic structures on wafers and other materials.

The company's product portfolio includes metal-organic chemical vapor deposition systems for compound semiconductors, ion beam etch and deposition equipment, laser annealing systems, and other wafer-processing technologies.

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