Assenagon Asset Management S.A. reduced its position in Veeco Instruments Inc. (NASDAQ:VECO - Free Report) by 50.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,938 shares of the semiconductor company's stock after selling 57,452 shares during the period. Assenagon Asset Management S.A. owned about 0.09% of Veeco Instruments worth $4,316,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of VECO. Louisiana State Employees Retirement System purchased a new stake in Veeco Instruments in the first quarter worth about $904,000. Fisher Asset Management LLC grew its holdings in shares of Veeco Instruments by 37.4% during the 4th quarter. Fisher Asset Management LLC now owns 1,820,357 shares of the semiconductor company's stock worth $52,026,000 after acquiring an additional 495,767 shares during the period. Nano Cap New Millennium Growth Fund L P bought a new position in shares of Veeco Instruments in the 4th quarter worth approximately $1,572,000. New York Life Investment Management LLC purchased a new position in shares of Veeco Instruments in the 4th quarter valued at approximately $1,808,000. Finally, UBS Group AG lifted its stake in shares of Veeco Instruments by 11.0% in the 4th quarter. UBS Group AG now owns 292,360 shares of the semiconductor company's stock valued at $8,356,000 after purchasing an additional 28,967 shares during the period. 98.46% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, SVP Susan Wilkerson sold 35,723 shares of the business's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $61.69, for a total value of $2,203,751.87. Following the completion of the transaction, the senior vice president owned 42,974 shares in the company, valued at $2,651,066.06. The trade was a 45.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William John Miller sold 50,000 shares of the business's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $58.62, for a total value of $2,931,000.00. Following the completion of the transaction, the chief executive officer owned 369,570 shares of the company's stock, valued at $21,664,193.40. This represents a 11.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 193,076 shares of company stock worth $11,674,281 in the last three months. Corporate insiders own 2.70% of the company's stock.
Analyst Upgrades and Downgrades
VECO has been the topic of several recent research reports. Barclays upped their price target on Veeco Instruments from $30.00 to $55.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 19th. Zacks Research downgraded shares of Veeco Instruments from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 6th. Wall Street Zen upgraded shares of Veeco Instruments from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Citigroup lifted their price target on shares of Veeco Instruments from $60.00 to $63.00 and gave the company a "buy" rating in a research report on Monday. Finally, Weiss Ratings upgraded shares of Veeco Instruments from a "sell (d+)" rating to a "hold (c)" rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Veeco Instruments presently has a consensus rating of "Hold" and an average target price of $49.33.
Read Our Latest Stock Report on Veeco Instruments
Veeco Instruments Stock Performance
Shares of VECO stock opened at $53.26 on Thursday. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of 147.94 and a beta of 1.38. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.69 and a current ratio of 3.93. Veeco Instruments Inc. has a one year low of $23.31 and a one year high of $86.63. The company's 50-day moving average is $60.61 and its 200 day moving average is $47.77.
Veeco Instruments (NASDAQ:VECO - Get Free Report) last issued its 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 net margin of 3.40% and a return on equity of 3.52%. The business had revenue of $193.48 million during the quarter, compared to analysts' expectations of $180.08 million. During the same period in the previous year, the company earned $0.20 earnings per share. The business's revenue for the quarter was up 16.5% compared to the same quarter last year. 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. Sell-side analysts expect that Veeco Instruments Inc. will post 1.1 EPS for the current fiscal year.
Veeco Instruments Profile
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Free Report)
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.
See Also
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