Bank of America Corp DE Grows Stock Holdings in Veeco Instruments Inc. $VECO

Bank of America Corp DE grew its holdings in shares of Veeco Instruments Inc. (NASDAQ:VECO - Free Report) by 17.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 286,409 shares of the semiconductor company's stock after purchasing an additional 41,925 shares during the quarter. Bank of America Corp DE owned approximately 0.47% of Veeco Instruments worth $9,698,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Royal Bank of Canada increased its stake in Veeco Instruments by 29.6% in the first quarter. Royal Bank of Canada now owns 134,088 shares of the semiconductor company's stock valued at $2,692,000 after purchasing an additional 30,646 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Veeco Instruments by 51.5% in the first quarter. AQR Capital Management LLC now owns 29,785 shares of the semiconductor company's stock worth $598,000 after acquiring an additional 10,122 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Veeco Instruments by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,043 shares of the semiconductor company's stock valued at $664,000 after purchasing an additional 1,434 shares during the period. Millennium Management LLC raised its stake in Veeco Instruments by 148.0% during the first quarter. Millennium Management LLC now owns 474,415 shares of the semiconductor company's stock worth $9,526,000 after purchasing an additional 283,099 shares during the period. Finally, Woodline Partners LP purchased a new position in Veeco Instruments during the first quarter worth approximately $618,000. Institutional investors and hedge funds own 98.46% of the company's stock.

Veeco Instruments Stock Performance

Veeco Instruments stock opened at $47.86 on Monday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.69 and a current ratio of 3.93. The firm's 50-day moving average is $58.38 and its 200-day moving average is $48.69. Veeco Instruments Inc. has a 1 year low of $23.31 and a 1 year high of $86.63. The company has a market cap of $2.93 billion, a P/E ratio of 132.94 and a beta of 1.38.

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, beating the consensus estimate of $0.26 by $0.07. The company had revenue of $193.48 million during the quarter, compared to the consensus estimate of $180.08 million. Veeco Instruments had a net margin of 3.40% and a return on equity of 3.52%. The company's revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 earnings per share. 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, equities analysts expect that Veeco Instruments Inc. will post 0.95 earnings per share for the current year.

Insider Buying and Selling

In other Veeco Instruments news, CFO John P. Kiernan sold 35,000 shares of the firm's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $51.05, for a total transaction of $1,786,750.00. Following the completion of the sale, the chief financial officer directly owned 68,802 shares in the company, 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 SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William John Miller sold 200,000 shares of Veeco Instruments stock in a transaction on 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 sale, the chief executive officer directly owned 169,570 shares of the company's stock, valued at approximately $9,187,302.60. The trade was a 54.12% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 393,076 shares of company stock valued at $22,510,281 in the last three months. Insiders own 2.70% of the company's stock.

Analyst Upgrades and Downgrades

VECO has been the topic of several research reports. Zacks Research cut Veeco Instruments from a "strong-buy" rating to a "hold" rating in a report on Monday, July 6th. Wall Street Zen raised shares of Veeco Instruments from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Weiss Ratings downgraded shares of Veeco Instruments from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday. Barclays raised their target price on shares of Veeco Instruments from $30.00 to $55.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 19th. Finally, Citigroup upped their price target on shares of Veeco Instruments from $60.00 to $63.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Veeco Instruments has a consensus rating of "Hold" and an average target price of $49.33.

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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