Tidal Investments LLC Trims Position in Veeco Instruments Inc. (NASDAQ:VECO)

Tidal Investments LLC lowered its stake in shares of Veeco Instruments Inc. (NASDAQ:VECO) by 69.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,064 shares of the semiconductor company’s stock after selling 16,414 shares during the quarter. Tidal Investments LLC’s holdings in Veeco Instruments were worth $234,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. US Bancorp DE increased its holdings in shares of Veeco Instruments by 14.8% in the third quarter. US Bancorp DE now owns 3,864 shares of the semiconductor company’s stock valued at $128,000 after purchasing an additional 498 shares during the period. KBC Group NV boosted its holdings in shares of Veeco Instruments by 46.8% in the third quarter. KBC Group NV now owns 2,088 shares of the semiconductor company’s stock valued at $69,000 after acquiring an additional 666 shares in the last quarter. Signaturefd LLC increased its stake in shares of Veeco Instruments by 130.6% during the third quarter. Signaturefd LLC now owns 1,328 shares of the semiconductor company’s stock worth $44,000 after acquiring an additional 752 shares during the period. Sheaff Brock Investment Advisors LLC raised its holdings in Veeco Instruments by 11.0% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 9,099 shares of the semiconductor company’s stock worth $301,000 after purchasing an additional 901 shares in the last quarter. Finally, Natixis Advisors LLC lifted its position in Veeco Instruments by 5.8% in the second quarter. Natixis Advisors LLC now owns 16,720 shares of the semiconductor company’s stock valued at $781,000 after purchasing an additional 915 shares during the period. Institutional investors and hedge funds own 98.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on VECO shares. The Goldman Sachs Group reduced their target price on Veeco Instruments from $35.00 to $30.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Oppenheimer lowered their target price on shares of Veeco Instruments from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. StockNews.com upgraded shares of Veeco Instruments from a “sell” rating to a “hold” rating in a research report on Friday, December 6th. Finally, Benchmark decreased their price target on Veeco Instruments from $42.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $42.14.

Veeco Instruments Trading Up 0.6 %

Shares of Veeco Instruments stock opened at $27.83 on Thursday. Veeco Instruments Inc. has a 1 year low of $25.52 and a 1 year high of $49.25. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.54 and a quick ratio of 2.41. The business has a 50 day moving average price of $28.27 and a 200 day moving average price of $34.81. The company has a market capitalization of $1.58 billion, a P/E ratio of 20.61 and a beta of 1.15.

Veeco Instruments (NASDAQ:VECO) last issued its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.01. The business had revenue of $184.80 million for the quarter, compared to the consensus estimate of $180.57 million. Veeco Instruments had a return on equity of 10.92% and a net margin of 11.34%. The business’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.41 earnings per share. Sell-side analysts anticipate that Veeco Instruments Inc. will post 1.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other Veeco Instruments news, CFO John P. Kiernan sold 2,500 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $28.67, for a total value of $71,675.00. Following the completion of the transaction, the chief financial officer now directly owns 80,142 shares in the company, valued at approximately $2,297,671.14. The trade was a 3.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.20% of the stock is owned by corporate insiders.

About Veeco Instruments

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.