Public Sector Pension investment Board Lowers Holdings in Veeco Instruments Inc. (VECO)
Public Sector Pension investment Board decreased its stake in Veeco Instruments Inc. (NASDAQ:VECO) by 17.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,170 shares of the semiconductor company’s stock after selling 5,211 shares during the period. Public Sector Pension investment Board owned 0.06% of Veeco Instruments worth $673,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the business. Citigroup Inc. raised its position in Veeco Instruments by 9.0% in the second quarter. Citigroup Inc. now owns 110,659 shares of the semiconductor company’s stock worth $3,082,000 after acquiring an additional 9,140 shares during the period. Van ECK Associates Corp raised its position in Veeco Instruments by 18.6% in the second quarter. Van ECK Associates Corp now owns 48,573 shares of the semiconductor company’s stock worth $1,353,000 after acquiring an additional 7,616 shares during the period. Menta Capital LLC bought a new stake in Veeco Instruments in the second quarter worth about $1,532,000. Rafferty Asset Management LLC bought a new stake in Veeco Instruments in the second quarter worth about $745,000. Finally, New York State Common Retirement Fund raised its position in Veeco Instruments by 12.1% in the second quarter. New York State Common Retirement Fund now owns 495,797 shares of the semiconductor company’s stock worth $13,808,000 after acquiring an additional 53,346 shares during the period. 96.00% of the stock is currently owned by institutional investors and hedge funds.
VECO has been the topic of several research reports. BidaskClub raised shares of Veeco Instruments from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. J P Morgan Chase & Co raised shares of Veeco Instruments from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $35.00 to $39.00 in a research report on Tuesday, June 13th. Stifel Nicolaus reissued a “buy” rating and issued a $38.00 price target (up previously from $36.00) on shares of Veeco Instruments in a research report on Friday, July 21st. Zacks Investment Research lowered shares of Veeco Instruments from a “hold” rating to a “sell” rating in a research report on Saturday, July 22nd. Finally, Deutsche Bank AG lowered shares of Veeco Instruments from a “buy” rating to a “hold” rating and lowered their price target for the company from $35.00 to $30.00 in a research report on Friday, August 4th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $30.89.
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Shares of Veeco Instruments Inc. (VECO) opened at 21.40 on Friday. The company’s market cap is $1.04 billion. Veeco Instruments Inc. has a 12-month low of $18.30 and a 12-month high of $34.38. The company’s 50-day moving average is $20.12 and its 200-day moving average is $27.23.
Veeco Instruments (NASDAQ:VECO) last released its earnings results on Thursday, August 3rd. The semiconductor company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.03. Veeco Instruments had a negative net margin of 23.65% and a negative return on equity of 1.33%. The company had revenue of $115.07 million for the quarter, compared to analysts’ expectations of $110.87 million. During the same quarter last year, the business earned ($0.19) EPS. The firm’s revenue was up 52.7% compared to the same quarter last year. Equities research analysts predict that Veeco Instruments Inc. will post $0.46 earnings per share for the current year.
Veeco Instruments Profile
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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