Veeco Instruments Inc. (NASDAQ:VECO) CFO Shubham Maheshwari bought 7,500 shares of Veeco Instruments stock in a transaction that occurred on Wednesday, December 13th. The stock was bought at an average cost of $13.74 per share, with a total value of $103,050.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Veeco Instruments Inc. (NASDAQ VECO) traded down $0.35 during trading on Wednesday, hitting $15.30. 1,100,000 shares of the stock were exchanged, compared to its average volume of 584,661. Veeco Instruments Inc. has a one year low of $10.85 and a one year high of $34.38. 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 (NASDAQ:VECO) last posted its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $0.09 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.16. Veeco Instruments had a negative net margin of 16.59% and a negative return on equity of 10.24%. The company had revenue of $131.87 million during the quarter, compared to the consensus estimate of $134.97 million. During the same period in the prior year, the business posted ($0.05) EPS. The company’s quarterly revenue was up 54.3% on a year-over-year basis. sell-side analysts expect that Veeco Instruments Inc. will post -0.01 earnings per share for the current fiscal year.

Veeco Instruments announced that its Board of Directors has initiated a share buyback plan on Monday, December 11th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the semiconductor company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

A number of equities analysts have recently commented on the stock. Deutsche Bank set a $21.00 price objective on shares of Veeco Instruments and gave the stock a “hold” rating in a research note on Wednesday, August 30th. Benchmark restated a “buy” rating and set a $33.00 price objective on shares of Veeco Instruments in a research note on Thursday, October 5th. Zacks Investment Research upgraded shares of Veeco Instruments from a “sell” rating to a “hold” rating 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. Finally, Needham & Company LLC reduced their price objective on shares of Veeco Instruments from $36.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, August 30th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $29.22.

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Veeco Instruments by 15.3% in the 2nd quarter. Vanguard Group Inc. now owns 4,167,222 shares of the semiconductor company’s stock valued at $116,057,000 after purchasing an additional 554,206 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Veeco Instruments by 3.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,953,177 shares of the semiconductor company’s stock valued at $63,198,000 after purchasing an additional 92,897 shares during the period. Eagle Asset Management Inc. raised its holdings in shares of Veeco Instruments by 0.8% in the 2nd quarter. Eagle Asset Management Inc. now owns 2,480,198 shares of the semiconductor company’s stock valued at $69,073,000 after purchasing an additional 18,713 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Veeco Instruments by 17.5% in the 2nd quarter. Renaissance Technologies LLC now owns 1,441,237 shares of the semiconductor company’s stock valued at $40,138,000 after purchasing an additional 214,477 shares during the period. Finally, Neuberger Berman Group LLC raised its holdings in shares of Veeco Instruments by 7.0% in the 3rd quarter. Neuberger Berman Group LLC now owns 1,266,600 shares of the semiconductor company’s stock valued at $27,105,000 after purchasing an additional 83,135 shares during the period. 98.60% of the stock is currently owned by institutional investors.

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Veeco Instruments Company 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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