Cubist Systematic Strategies LLC cut its stake in Veeco Instruments Inc. (NASDAQ:VECO - Free Report) by 20.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 108,286 shares of the semiconductor company's stock after selling 28,180 shares during the period. Cubist Systematic Strategies LLC owned 0.19% of Veeco Instruments worth $2,902,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Veeco Instruments by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 7,477,260 shares of the semiconductor company's stock valued at $200,391,000 after acquiring an additional 110,825 shares in the last quarter. Wasatch Advisors LP lifted its stake in shares of Veeco Instruments by 5.8% during the 4th quarter. Wasatch Advisors LP now owns 2,792,850 shares of the semiconductor company's stock valued at $74,848,000 after buying an additional 152,201 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Veeco Instruments by 24.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 2,748,172 shares of the semiconductor company's stock worth $73,651,000 after purchasing an additional 531,821 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Veeco Instruments by 3.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,242,750 shares of the semiconductor company's stock worth $60,107,000 after purchasing an additional 78,884 shares in the last quarter. Finally, Wealthfront Advisers LLC purchased a new stake in Veeco Instruments in the 4th quarter worth $29,676,000. 98.46% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
VECO has been the topic of several recent research reports. Needham & Company LLC decreased their target price on shares of Veeco Instruments from $35.00 to $29.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Barclays decreased their target price on shares of Veeco Instruments from $22.00 to $21.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. 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. Oppenheimer reiterated an "outperform" rating and set a $35.00 price target (down from $40.00) on shares of Veeco Instruments in a report on Friday, February 7th. Finally, Citigroup cut 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 research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $30.43.
View Our Latest Stock Analysis on VECO
Veeco Instruments Stock Down 3.1%
Shares of VECO traded down $0.66 during mid-day trading on Friday, hitting $20.60. The company's stock had a trading volume of 140,463 shares, compared to its average volume of 741,019. Veeco Instruments Inc. has a 52-week low of $16.92 and a 52-week high of $49.25. The company's 50-day moving average is $19.75 and its 200-day moving average is $24.12. The company has a current ratio of 3.98, a quick ratio of 2.69 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 16.62 and a beta of 1.13.
Veeco Instruments (NASDAQ:VECO - Get Free Report) last posted its earnings results on Wednesday, May 7th. The semiconductor company reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.05. The company had revenue of $167.29 million during 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%. Veeco Instruments's revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.45 earnings per share. On average, equities research analysts forecast that Veeco Instruments Inc. will post 0.76 EPS for the current fiscal year.
About Veeco Instruments
(
Free Report)
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.
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