Point72 Asset Management L.P. Has $5.34 Million Stock Position in Veeco Instruments Inc. (NASDAQ:VECO)

Point72 Asset Management L.P. raised its position in Veeco Instruments Inc. (NASDAQ:VECO - Free Report) by 3,668.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 199,067 shares of the semiconductor company's stock after acquiring an additional 193,785 shares during the period. Point72 Asset Management L.P. owned approximately 0.35% of Veeco Instruments worth $5,335,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in shares of Veeco Instruments in the 4th quarter worth $14,373,000. Smartleaf Asset Management LLC lifted its stake in shares of Veeco Instruments by 257.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,276 shares of the semiconductor company's stock valued at $35,000 after purchasing an additional 919 shares during the period. Vanguard Group Inc. lifted its stake in shares of Veeco Instruments by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 7,477,260 shares of the semiconductor company's stock valued at $200,391,000 after purchasing an additional 110,825 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Veeco Instruments by 15.1% in the fourth quarter. Victory Capital Management Inc. now owns 493,039 shares of the semiconductor company's stock valued at $13,213,000 after purchasing an additional 64,824 shares during the period. Finally, Amundi lifted its stake in shares of Veeco Instruments by 191.5% in the fourth quarter. Amundi now owns 29,137 shares of the semiconductor company's stock valued at $820,000 after purchasing an additional 19,140 shares during the period. Institutional investors and hedge funds own 98.46% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on VECO. Needham & Company LLC dropped their target price on shares of Veeco Instruments from $35.00 to $29.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Citigroup decreased their target price on shares of Veeco Instruments from $33.00 to $30.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Benchmark cut their price target on shares of Veeco Instruments from $38.00 to $31.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. The Goldman Sachs Group dropped their price objective on shares of Veeco Instruments from $27.00 to $20.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Finally, Oppenheimer reiterated an "outperform" rating and issued a $35.00 target price (down previously from $40.00) on shares of Veeco Instruments in a research report on Friday, February 7th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $30.43.

Veeco Instruments Stock Down 1.2%

Shares of NASDAQ VECO traded down $0.23 during mid-day trading on Friday, reaching $19.20. The company had a trading volume of 592,545 shares, compared to its average volume of 746,379. The stock has a fifty day moving average of $19.57 and a two-hundred day moving average of $23.65. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.69 and a current ratio of 3.98. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 15.48 and a beta of 1.13. Veeco Instruments Inc. has a 12-month low of $16.92 and a 12-month high of $49.25.

Veeco Instruments (NASDAQ:VECO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The semiconductor company reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.05. The business had revenue of $167.29 million during the quarter, compared to analyst estimates of $166.00 million. Veeco Instruments had a net margin of 10.28% and a return on equity of 9.38%. The firm's revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.45 earnings per share. As a group, equities research analysts expect that Veeco Instruments Inc. will post 0.76 EPS for the current year.

Veeco Instruments Company Profile

Veeco Instruments Inc, together with its subsidiaries, develops, manufactures, sells, and supports semiconductor and thin film process equipment primarily to make electronic devices in the United States, Europe, the Middle East, and Africa, China, Rest of the Asia-Pacific, and internationally. The company offers laser annealing, ion beam deposition and etch, metal organic chemical vapor deposition, single wafer wet processing and surface preparation, molecular beam epitaxy, advanced packaging lithography, atomic layer deposition, and other deposition systems.