Veeco Instruments Inc. $VECO Stock: State of Alaska Department of Revenue Cuts Holdings

State of Alaska Department of Revenue cut its holdings in Veeco Instruments Inc. (NASDAQ:VECO) by 54.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 10,270 shares of the semiconductor company’s stock after selling 12,078 shares during the period. State of Alaska Department of Revenue’s holdings in Veeco Instruments were worth $533,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in VECO. Central Pacific Bank Trust Division boosted its holdings in shares of Veeco Instruments by 71.8% during the third quarter. Central Pacific Bank Trust Division now owns 14,350 shares of the semiconductor company’s stock worth $745,000 after purchasing an additional 5,997 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in Veeco Instruments in the second quarter valued at $1,104,000. Tidal Investments LLC acquired a new position in Veeco Instruments in the second quarter valued at $2,006,000. Engineers Gate Manager LP acquired a new position in Veeco Instruments in the second quarter valued at $752,000. Finally, Integrated Wealth Concepts LLC purchased a new position in Veeco Instruments during the second quarter worth about $146,000. Institutional investors and hedge funds own 98.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on VECO shares. Wall Street Zen raised Veeco Instruments from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 12th. Citigroup lifted their price target on Veeco Instruments from $60.00 to $63.00 and gave the company a “buy” rating in a report on Monday, August 10th. Zacks Research downgraded shares of Veeco Instruments from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Oppenheimer reiterated an “outperform” rating and set a $24.00 price objective on shares of Veeco Instruments in a report on Wednesday, October 14th. Finally, Weiss Ratings lowered shares of Veeco Instruments from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, August 21st. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $52.00.

Veeco Instruments Stock Up 2.2%

Shares of VECO opened at $42.06 on Friday. The firm has a market cap of $2.57 billion, a PE ratio of 116.83 and a beta of 1.36. The company’s fifty day moving average is $46.77 and its two-hundred day moving average is $53.19. Veeco Instruments Inc. has a fifty-two week low of $26.00 and a fifty-two week high of $86.63. The company has a quick ratio of 2.69, a current ratio of 3.93 and a debt-to-equity ratio of 0.25.

Veeco Instruments (NASDAQ:VECO) last announced its quarterly earnings data on Wednesday, August 5th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.07. The company had revenue of $193.48 million during the quarter, compared to analysts’ expectations of $180.08 million. Veeco Instruments had a net margin of 3.40% and a return on equity of 3.52%. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.20 EPS. 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. Analysts forecast that Veeco Instruments Inc. will post 0.95 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO John P. Kiernan sold 35,000 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $51.05, for a total transaction of $1,786,750.00. Following the completion of the sale, the chief financial officer owned 68,802 shares in the company, valued at approximately $3,512,342.10. The trade was a 33.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Miller sold 200,000 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $54.18, for a total transaction of $10,836,000.00. Following the sale, the chief executive officer directly owned 169,570 shares of the company’s stock, valued at approximately $9,187,302.60. This trade represents a 54.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.70% of the stock is currently owned by company insiders.

Veeco Instruments Profile

Veeco Instruments Inc (NASDAQ: VECO) develops and manufactures specialized equipment used in the production of semiconductors and other advanced electronic devices. Its systems help customers deposit, etch, pattern, anneal and otherwise process thin films and materials at the wafer level.

The company’s product portfolio includes metal-organic chemical vapor deposition systems, molecular beam epitaxy equipment, ion beam etch and deposition systems, laser annealing systems, and related process-control and automation technologies.