Veeco Instruments Inc. (NASDAQ:VECO) SVP Sells $225,705.00 in Stock

Veeco Instruments Inc. (NASDAQ:VECO) SVP Adrian Devasahayam sold 11,010 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $20.50, for a total value of $225,705.00. Following the transaction, the senior vice president now directly owns 89,254 shares in the company, valued at approximately $1,829,707. This represents a 10.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Veeco Instruments Trading Up 4.3%

VECO stock traded up $0.88 during midday trading on Monday, reaching $21.45. The company’s stock had a trading volume of 881,738 shares, compared to its average volume of 748,679. Veeco Instruments Inc. has a 52 week low of $16.92 and a 52 week high of $49.25. The business’s 50-day simple moving average is $19.32 and its 200-day simple moving average is $23.15. The company has a quick ratio of 2.69, a current ratio of 3.98 and a debt-to-equity ratio of 0.32. The stock has a market cap of $1.29 billion, a PE ratio of 17.30 and a beta of 1.11.

Veeco Instruments (NASDAQ:VECO) last announced its quarterly earnings results on Wednesday, May 7th. The semiconductor company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. Veeco Instruments had a net margin of 10.28% and a return on equity of 9.38%. The business had revenue of $167.29 million for the quarter, compared to the consensus estimate of $166.00 million. During the same period last year, the company posted $0.45 EPS. Veeco Instruments’s revenue for the quarter was down 4.1% on a year-over-year basis. As a group, sell-side analysts expect that Veeco Instruments Inc. will post 0.76 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Benchmark cut their price target on Veeco Instruments from $38.00 to $31.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. The Goldman Sachs Group dropped their price target on shares of Veeco Instruments from $27.00 to $20.00 and set a “neutral” rating on the stock in a research report on Friday, May 9th. Barclays decreased their target price on Veeco Instruments from $22.00 to $21.00 and set an “equal weight” rating on the stock in a report on Thursday, May 8th. Needham & Company LLC dropped their target price on shares of Veeco Instruments from $35.00 to $29.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Finally, Wall Street Zen raised shares of Veeco Instruments from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $30.43.

Institutional Trading of Veeco Instruments

A number of large investors have recently bought and sold shares of the business. Versant Capital Management Inc lifted its stake in Veeco Instruments by 396.2% in the first quarter. Versant Capital Management Inc now owns 1,295 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 1,034 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Veeco Instruments by 257.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,276 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 919 shares during the period. Brooklyn Investment Group bought a new stake in Veeco Instruments in the 1st quarter valued at $37,000. Signaturefd LLC lifted its position in Veeco Instruments by 213.9% in the 1st quarter. Signaturefd LLC now owns 3,139 shares of the semiconductor company’s stock valued at $63,000 after acquiring an additional 2,139 shares in the last quarter. Finally, US Bancorp DE boosted its stake in Veeco Instruments by 33.6% in the 1st quarter. US Bancorp DE now owns 3,366 shares of the semiconductor company’s stock worth $68,000 after purchasing an additional 847 shares during the period. 98.46% of the stock is owned by institutional investors.

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.