Sherbrooke Park Advisers LLC Purchases New Stake in Veeco Instruments Inc. (NASDAQ:VECO)

Sherbrooke Park Advisers LLC bought a new position in shares of Veeco Instruments Inc. (NASDAQ:VECO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 14,068 shares of the semiconductor company's stock, valued at approximately $377,000.

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

Wall Street Analyst Weigh In

Several analysts have recently commented on VECO shares. StockNews.com raised shares of Veeco Instruments from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Needham & Company LLC cut their price target on Veeco Instruments from $35.00 to $29.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. The Goldman Sachs Group cut their price target on Veeco Instruments from $27.00 to $20.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Oppenheimer reiterated an "outperform" rating and issued a $35.00 price target (down previously from $40.00) on shares of Veeco Instruments in a report on Friday, February 7th. Finally, Benchmark cut their price target on Veeco Instruments from $38.00 to $31.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Veeco Instruments has a consensus rating of "Moderate Buy" and a consensus price target of $30.43.

Veeco Instruments Stock Up 0.7%

Shares of VECO traded up $0.15 on Tuesday, reaching $20.38. The company's stock had a trading volume of 468,115 shares, compared to its average volume of 742,710. The company has a current ratio of 3.98, a quick ratio of 2.69 and a debt-to-equity ratio of 0.32. Veeco Instruments Inc. has a twelve month low of $16.92 and a twelve month high of $49.25. The stock has a market capitalization of $1.19 billion, a PE ratio of 16.44 and a beta of 1.13. The firm has a fifty day moving average of $19.70 and a 200-day moving average of $23.90.

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