Dumont & Blake Investment Advisors LLC Has $352,000 Position in Veeco Instruments Inc. (NASDAQ:VECO)

Dumont & Blake Investment Advisors LLC lowered its holdings in shares of Veeco Instruments Inc. (NASDAQ:VECO) by 19.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,010 shares of the semiconductor company’s stock after selling 2,440 shares during the quarter. Dumont & Blake Investment Advisors LLC’s holdings in Veeco Instruments were worth $352,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Federated Hermes Inc. bought a new position in Veeco Instruments in the third quarter valued at approximately $33,000. Hsbc Holdings PLC bought a new position in shares of Veeco Instruments during the 3rd quarter worth approximately $237,000. Russell Investments Group Ltd. boosted its stake in shares of Veeco Instruments by 58.9% during the 4th quarter. Russell Investments Group Ltd. now owns 8,913 shares of the semiconductor company’s stock worth $277,000 after acquiring an additional 3,304 shares during the period. Natixis Advisors L.P. bought a new position in shares of Veeco Instruments during the 4th quarter worth approximately $332,000. Finally, Intrust Bank NA boosted its stake in shares of Veeco Instruments by 12.3% during the 4th quarter. Intrust Bank NA now owns 13,717 shares of the semiconductor company’s stock worth $426,000 after acquiring an additional 1,504 shares during the period. Institutional investors and hedge funds own 98.46% of the company’s stock.

Insider Buying and Selling at Veeco Instruments

In other Veeco Instruments news, CEO William John Miller sold 30,000 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $38.19, for a total value of $1,145,700.00. Following the sale, the chief executive officer now owns 515,091 shares in the company, valued at approximately $19,671,325.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO John P. Kiernan sold 2,500 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $43.39, for a total transaction of $108,475.00. Following the sale, the chief financial officer now owns 2,167 shares in the company, valued at approximately $94,026.13. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William John Miller sold 30,000 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $38.19, for a total value of $1,145,700.00. Following the sale, the chief executive officer now owns 515,091 shares in the company, valued at approximately $19,671,325.29. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,500 shares of company stock worth $1,405,055. Insiders own 2.20% of the company’s stock.

Veeco Instruments Stock Performance

Shares of VECO stock opened at $46.71 on Monday. The stock’s fifty day simple moving average is $40.98 and its 200 day simple moving average is $36.02. Veeco Instruments Inc. has a twelve month low of $23.63 and a twelve month high of $48.48. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.02 and a current ratio of 3.05.

Veeco Instruments (NASDAQ:VECO) last released its quarterly earnings results on Tuesday, May 7th. The semiconductor company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. Veeco Instruments had a positive return on equity of 11.97% and a negative net margin of 2.51%. The firm had revenue of $174.48 million for the quarter, compared to analyst estimates of $170.00 million. On average, sell-side analysts predict that Veeco Instruments Inc. will post 1.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on VECO. Barclays lifted their price target on Veeco Instruments from $33.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 8th. Needham & Company LLC lifted their price target on Veeco Instruments from $43.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Oppenheimer lifted their price target on Veeco Instruments from $45.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, The Goldman Sachs Group lifted their price target on Veeco Instruments from $35.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Veeco Instruments presently has an average rating of “Moderate Buy” and a consensus price target of $42.14.

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.