Veeco Instruments Inc. (NASDAQ:VECO) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its holdings in shares of Veeco Instruments Inc. (NASDAQ:VECO) by 8.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,541 shares of the semiconductor company’s stock after selling 769 shares during the period. Mutual of America Capital Management LLC’s holdings in Veeco Instruments were worth $283,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its position in shares of Veeco Instruments by 6.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 28,263 shares of the semiconductor company’s stock worth $995,000 after buying an additional 1,821 shares during the period. Janus Henderson Group PLC lifted its holdings in Veeco Instruments by 122.9% in the 1st quarter. Janus Henderson Group PLC now owns 63,325 shares of the semiconductor company’s stock worth $2,226,000 after purchasing an additional 34,921 shares during the last quarter. Tidal Investments LLC increased its stake in shares of Veeco Instruments by 280.7% in the first quarter. Tidal Investments LLC now owns 38,949 shares of the semiconductor company’s stock worth $1,370,000 after purchasing an additional 28,719 shares during the period. GAMMA Investing LLC lifted its position in shares of Veeco Instruments by 237.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,677 shares of the semiconductor company’s stock worth $78,000 after purchasing an additional 1,180 shares during the last quarter. Finally, Moody National Bank Trust Division acquired a new stake in Veeco Instruments in the 2nd quarter valued at approximately $600,000. Institutional investors and hedge funds own 98.46% of the company’s stock.

Veeco Instruments Trading Up 1.8 %

NASDAQ:VECO opened at $27.63 on Friday. The business’s 50-day simple moving average is $30.07 and its 200-day simple moving average is $36.62. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.54 and a quick ratio of 2.41. Veeco Instruments Inc. has a fifty-two week low of $25.52 and a fifty-two week high of $49.25. The stock has a market capitalization of $1.57 billion, a PE ratio of 20.47 and a beta of 1.17.

Veeco Instruments (NASDAQ:VECO) last released its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. The firm had revenue of $184.80 million during 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 quarter in the prior year, the firm posted $0.41 EPS. Sell-side analysts expect that Veeco Instruments Inc. will post 1.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on VECO. Northland Securities decreased their price objective on Veeco Instruments from $53.00 to $47.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Oppenheimer dropped their price objective on Veeco Instruments from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. StockNews.com cut Veeco Instruments from a “hold” rating to a “sell” rating in a report on Thursday. The Goldman Sachs Group lowered their price target on shares of Veeco Instruments from $35.00 to $30.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Finally, Benchmark dropped their target price on Veeco Instruments from $42.00 to $38.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Veeco Instruments presently has an average rating of “Hold” and an average target price of $42.14.

Insider Activity

In other Veeco Instruments news, CFO John P. Kiernan sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $32.63, for a total transaction of $81,575.00. Following the transaction, the chief financial officer now owns 82,642 shares of the company’s stock, valued at $2,696,608.46. The trade was a 2.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 7,500 shares of company stock valued at $225,850. 2.20% of the stock is owned by 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.