Granahan Investment Management LLC Sells 30,547 Shares of Veeco Instruments Inc. $VECO

Key Points

• Granahan Investment Management reduced its Veeco Instruments stake by 13.7% in the first quarter, selling 30,547 shares and leaving it with 192,731 shares valued at about $6.53 million.
• Wall Street sentiment on Veeco is mixed: Citigroup and Barclays raised price targets, but recent rating changes left the stock with an overall Hold consensus and an average target price of $40.60.
• Veeco reported weaker-than-expected quarterly results, with EPS of $0.14 versus $0.20 expected and revenue of $158.34 million, while company insiders also sold shares in recent months.

Granahan Investment Management LLC cut its position in shares of Veeco Instruments Inc. (NASDAQ:VECO - Free Report) by 13.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 192,731 shares of the semiconductor company's stock after selling 30,547 shares during the quarter. Granahan Investment Management LLC owned 0.32% of Veeco Instruments worth $6,526,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Smartleaf Asset Management LLC increased its holdings in Veeco Instruments by 75.6% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,366 shares of the semiconductor company's stock valued at $49,000 after purchasing an additional 1,019 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in shares of Veeco Instruments by 125.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,461 shares of the semiconductor company's stock valued at $70,000 after acquiring an additional 1,370 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in Veeco Instruments in the fourth quarter valued at about $77,000. Johnson Financial Group Inc. acquired a new stake in shares of Veeco Instruments in the 3rd quarter valued at about $91,000. Finally, Global Retirement Partners LLC increased its stake in Veeco Instruments by 16,961.9% in the 4th quarter. Global Retirement Partners LLC now owns 3,583 shares of the semiconductor company's stock valued at $102,000 after buying an additional 3,562 shares during the last quarter. 98.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Veeco Instruments Price Performance

Shares of NASDAQ VECO opened at $51.66 on Friday. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 135.95 and a beta of 1.34. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.86 and a current ratio of 4.23. Veeco Instruments Inc. has a fifty-two week low of $19.29 and a fifty-two week high of $86.63. The firm's 50-day simple moving average is $62.84 and its 200 day simple moving average is $46.11.

Veeco Instruments (NASDAQ:VECO - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.06). The firm had revenue of $158.34 million for the quarter, compared to analysts' expectations of $160.07 million. Veeco Instruments had a return on equity of 3.49% and a net margin of 3.53%.The firm's revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.37 earnings per share. 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, research analysts anticipate that Veeco Instruments Inc. will post 1.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Adrian Devasahayam sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $65.00, for a total transaction of $650,000.00. Following the sale, the senior vice president directly owned 85,115 shares in the company, valued at approximately $5,532,475. This represents a 10.51% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Gordon Hunter sold 16,974 shares of the stock in a transaction on 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 sale, the director owned 11,236 shares in the company, valued at approximately $773,036.80. This represents a 60.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 339,055 shares of company stock valued at $20,705,270. 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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