Veeco Instruments Inc. (NASDAQ:VECO) Position Increased by Dumont & Blake Investment Advisors LLC

Dumont & Blake Investment Advisors LLC raised its position in Veeco Instruments Inc. (NASDAQ:VECO) by 74.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,295 shares of the semiconductor company’s stock after purchasing an additional 15,075 shares during the quarter. Dumont & Blake Investment Advisors LLC owned approximately 0.06% of Veeco Instruments worth $1,169,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. First Eagle Investment Management LLC boosted its stake in shares of Veeco Instruments by 11.4% during the 1st quarter. First Eagle Investment Management LLC now owns 292,848 shares of the semiconductor company’s stock worth $10,299,000 after acquiring an additional 30,000 shares in the last quarter. Tidal Investments LLC raised its holdings in Veeco Instruments by 280.7% in the 1st quarter. Tidal Investments LLC now owns 38,949 shares of the semiconductor company’s stock worth $1,370,000 after acquiring an additional 28,719 shares during the period. Oliver Luxxe Assets LLC bought a new stake in Veeco Instruments during the first quarter valued at about $713,000. Assenagon Asset Management S.A. increased its position in Veeco Instruments by 5.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 598,014 shares of the semiconductor company’s stock worth $27,933,000 after buying an additional 31,482 shares during the period. Finally, Vanguard Group Inc. raised its stake in Veeco Instruments by 5.8% during the 1st quarter. Vanguard Group Inc. now owns 7,131,073 shares of the semiconductor company’s stock valued at $250,800,000 after purchasing an additional 391,346 shares during the last quarter. 98.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Veeco Instruments

In related news, CFO John P. Kiernan sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $32.63, for a total transaction of $81,575.00. Following the completion of the sale, the chief financial officer now directly owns 82,642 shares of the company’s stock, valued at $2,696,608.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

VECO has been the topic of several research reports. Northland Securities lowered their price target on Veeco Instruments from $53.00 to $47.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. StockNews.com cut shares of Veeco Instruments from a “hold” rating to a “sell” rating in a research note on Wednesday. The Goldman Sachs Group lowered their target price on shares of Veeco Instruments from $39.00 to $35.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Benchmark restated a “buy” rating and set a $42.00 price target on shares of Veeco Instruments in a research note on Wednesday, August 7th. Finally, Citigroup lowered Veeco Instruments from a “buy” rating to a “neutral” rating and upped their price objective for the company from $45.00 to $50.00 in a research note on Monday, July 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $45.57.

Veeco Instruments Price Performance

NASDAQ:VECO traded up $0.27 during mid-day trading on Friday, reaching $29.43. 3,487 shares of the company were exchanged, compared to its average volume of 654,618. The company has a quick ratio of 2.32, a current ratio of 3.52 and a debt-to-equity ratio of 0.35. The stock has a market cap of $1.67 billion, a PE ratio of -64.80 and a beta of 1.16. Veeco Instruments Inc. has a 12 month low of $23.63 and a 12 month high of $49.25. The company has a fifty day moving average of $32.73 and a 200 day moving average of $37.89.

Veeco Instruments (NASDAQ:VECO) last posted its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.01). The firm had revenue of $175.88 million for the quarter, compared to analyst estimates of $176.03 million. Veeco Instruments had a return on equity of 12.03% and a net margin of 11.83%. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.21 EPS. On average, research analysts anticipate that Veeco Instruments Inc. will post 1.2 EPS for the current fiscal year.

Veeco Instruments 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.