Oliver Luxxe Assets LLC Makes New $713,000 Investment in Veeco Instruments Inc. (NASDAQ:VECO)

Oliver Luxxe Assets LLC purchased a new position in shares of Veeco Instruments Inc. (NASDAQ:VECO) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 20,272 shares of the semiconductor company’s stock, valued at approximately $713,000.

Several other hedge funds also recently modified their holdings of VECO. Deutsche Bank AG boosted its stake in shares of Veeco Instruments by 20.5% during the 3rd quarter. Deutsche Bank AG now owns 23,466 shares of the semiconductor company’s stock worth $660,000 after purchasing an additional 3,999 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Veeco Instruments during the 3rd quarter worth about $237,000. Federated Hermes Inc. acquired a new stake in shares of Veeco Instruments during the 3rd quarter worth about $33,000. Trexquant Investment LP boosted its stake in shares of Veeco Instruments by 34.1% during the 3rd quarter. Trexquant Investment LP now owns 49,553 shares of the semiconductor company’s stock worth $1,393,000 after purchasing an additional 12,591 shares during the last quarter. Finally, Nomura Holdings Inc. acquired a new stake in shares of Veeco Instruments during the 3rd quarter worth about $774,000. 98.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on VECO shares. Needham & Company LLC boosted their target price on shares of Veeco Instruments from $43.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Barclays boosted their target price on shares of Veeco Instruments from $33.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday, May 8th. The Goldman Sachs Group boosted their target price on shares of Veeco Instruments from $35.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, May 9th. Finally, Oppenheimer boosted their target price on shares of Veeco Instruments from $45.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, June 27th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Veeco Instruments presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.14.

Veeco Instruments Stock Up 0.4 %

VECO opened at $46.92 on Tuesday. The company has a current ratio of 3.05, a quick ratio of 2.02 and a debt-to-equity ratio of 0.36. Veeco Instruments Inc. has a 52-week low of $23.63 and a 52-week high of $48.48. The company has a 50 day moving average of $41.26 and a two-hundred day moving average of $36.13.

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

Insider Transactions at Veeco Instruments

In other news, CFO John P. Kiernan sold 2,500 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $43.39, for a total transaction of $108,475.00. Following the transaction, the chief financial officer now directly owns 2,167 shares of the company’s stock, valued at $94,026.13. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO John P. Kiernan sold 2,500 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $43.39, for a total value of $108,475.00. Following the sale, the chief financial officer now directly owns 2,167 shares of the company’s stock, valued at $94,026.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dennis Thomas St sold 4,000 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $37.72, for a total transaction of $150,880.00. Following the completion of the sale, the director now directly owns 51,861 shares in the company, valued at $1,956,196.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,500 shares of company stock valued at $1,405,055. Corporate insiders own 2.20% of the company’s stock.

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.