Voloridge Investment Management LLC Has $9.37 Million Stock Position in Veeco Instruments Inc. (NASDAQ:VECO)

Voloridge Investment Management LLC grew its position in shares of Veeco Instruments Inc. (NASDAQ:VECO - Free Report) by 125.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 349,785 shares of the semiconductor company's stock after purchasing an additional 194,495 shares during the period. Voloridge Investment Management LLC owned about 0.62% of Veeco Instruments worth $9,374,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of VECO. Smartleaf Asset Management LLC lifted its position in Veeco Instruments by 257.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,276 shares of the semiconductor company's stock valued at $35,000 after acquiring an additional 919 shares in the last quarter. Sciencast Management LP purchased a new position in Veeco Instruments in the fourth quarter worth about $204,000. FORA Capital LLC purchased a new position in shares of Veeco Instruments during the fourth quarter valued at approximately $220,000. Inceptionr LLC bought a new stake in shares of Veeco Instruments during the fourth quarter valued at approximately $263,000. Finally, Tower Research Capital LLC TRC raised its stake in Veeco Instruments by 54.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,009 shares of the semiconductor company's stock worth $268,000 after buying an additional 3,548 shares in the last quarter. Institutional investors own 98.46% of the company's stock.

Veeco Instruments Stock Performance

Shares of VECO stock traded down $0.35 during trading hours on Friday, reaching $19.44. The stock had a trading volume of 136,434 shares, compared to its average volume of 743,558. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.98 and a quick ratio of 2.69. Veeco Instruments Inc. has a twelve month low of $16.92 and a twelve month high of $49.25. The firm has a 50-day simple moving average of $19.41 and a 200-day simple moving average of $23.47. The firm has a market capitalization of $1.13 billion, a PE ratio of 15.72 and a beta of 1.13.

Veeco Instruments (NASDAQ:VECO - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $167.29 million for the quarter, compared to analysts' expectations of $166.00 million. Veeco Instruments had a net margin of 10.28% and a return on equity of 9.38%. The business's revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 EPS. As a group, equities analysts forecast that Veeco Instruments Inc. will post 0.76 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on VECO shares. Wall Street Zen raised shares of Veeco Instruments from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Benchmark lowered their price objective on shares of Veeco Instruments from $38.00 to $31.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. The Goldman Sachs Group cut their price target on shares of Veeco Instruments from $27.00 to $20.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Oppenheimer reaffirmed an "outperform" rating and issued a $35.00 target price (down previously from $40.00) on shares of Veeco Instruments in a report on Friday, February 7th. Finally, Citigroup reduced their price target on shares of Veeco Instruments from $33.00 to $30.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Veeco Instruments currently has an average rating of "Moderate Buy" and a consensus target price of $30.43.

About Veeco Instruments

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.