First Trust Advisors LP lowered its holdings in shares of Veeco Instruments Inc. (NASDAQ:VECO) by 57.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,923 shares of the semiconductor company’s stock after selling 44,999 shares during the quarter. First Trust Advisors LP owned 0.07% of Veeco Instruments worth $705,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Bank of Montreal Can lifted its holdings in shares of Veeco Instruments by 4.8% in the 2nd quarter. Bank of Montreal Can now owns 5,771 shares of the semiconductor company’s stock worth $161,000 after acquiring an additional 265 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Veeco Instruments by 1.6% in the 2nd quarter. Janney Montgomery Scott LLC now owns 22,912 shares of the semiconductor company’s stock worth $638,000 after acquiring an additional 370 shares during the last quarter. Capstone Asset Management Co. lifted its holdings in shares of Veeco Instruments by 7.1% in the 2nd quarter. Capstone Asset Management Co. now owns 8,367 shares of the semiconductor company’s stock worth $233,000 after acquiring an additional 557 shares during the last quarter. Ameritas Investment Partners Inc. lifted its holdings in shares of Veeco Instruments by 32.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,143 shares of the semiconductor company’s stock worth $115,000 after acquiring an additional 1,026 shares during the last quarter. Finally, Teachers Advisors LLC lifted its holdings in shares of Veeco Instruments by 1.7% in the 1st quarter. Teachers Advisors LLC now owns 66,398 shares of the semiconductor company’s stock worth $1,982,000 after acquiring an additional 1,081 shares during the last quarter. Institutional investors and hedge funds own 98.85% of the company’s stock.

Veeco Instruments Inc. (NASDAQ:VECO) opened at $14.65 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.61 and a quick ratio of 2.11. Veeco Instruments Inc. has a 12-month low of $14.40 and a 12-month high of $34.38.

Veeco Instruments (NASDAQ:VECO) last posted its earnings results on Thursday, November 2nd. The semiconductor company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.16. The business had revenue of $131.87 million for the quarter, compared to the consensus estimate of $134.97 million. Veeco Instruments had a negative net margin of 10.16% and a negative return on equity of 0.73%. The company’s revenue for the quarter was up 54.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.05) EPS. research analysts expect that Veeco Instruments Inc. will post -0.01 earnings per share for the current year.

VECO has been the subject of several analyst reports. Needham & Company LLC lowered their target price on shares of Veeco Instruments from $36.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, August 30th. Benchmark reaffirmed a “buy” rating and issued a $33.00 price target on shares of Veeco Instruments in a research note on Thursday, October 5th. KeyCorp downgraded shares of Veeco Instruments to a “hold” rating in a research note on Wednesday, October 25th. Zacks Investment Research raised shares of Veeco Instruments from a “sell” rating to a “hold” rating in a research note on Thursday, October 5th. Finally, Deutsche Bank set a $21.00 price target on shares of Veeco Instruments and gave the stock a “hold” rating in a research note on Wednesday, August 30th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $29.22.

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About Veeco Instruments

Veeco Instruments Inc is engaged in the design, development, manufacture and support of thin film process equipment, primarily sold to make electronic devices. The Company’s geographical segments include the United States; China; Europe, Middle East and Africa (EMEA), and Rest of World (ROW). The Company’s portfolio of technology solutions focus on market areas, including Lighting, Display & Power Electronics; Advanced Packaging, micro-electromechanical systems (MEMS) & radio frequency (RF); Scientific & Industrial, and Data Storage.

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Institutional Ownership by Quarter for Veeco Instruments (NASDAQ:VECO)

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