Veeco Instruments (NASDAQ:VECO) Hits New 1-Year Low at $18.64

Veeco Instruments Inc. (NASDAQ:VECOGet Rating) shares hit a new 52-week low during trading on Thursday . The stock traded as low as $18.64 and last traded at $18.76, with a volume of 5357 shares traded. The stock had previously closed at $19.25.

Several research analysts have recently commented on the stock. Oppenheimer lowered their target price on shares of Veeco Instruments from $40.00 to $35.00 in a report on Thursday, May 5th. StockNews.com initiated coverage on shares of Veeco Instruments in a research note on Thursday, March 31st. They issued a “hold” rating on the stock.

The business’s 50 day moving average is $21.83 and its 200-day moving average is $25.63. The firm has a market capitalization of $962.80 million, a P/E ratio of 28.31 and a beta of 1.35. The company has a quick ratio of 1.77, a current ratio of 2.58 and a debt-to-equity ratio of 0.63.

Veeco Instruments (NASDAQ:VECOGet Rating) last issued its earnings results on Monday, May 9th. The semiconductor company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. Veeco Instruments had a net margin of 6.09% and a return on equity of 15.58%. The firm had revenue of $156.30 million for the quarter, compared to analyst estimates of $154.95 million. During the same quarter last year, the business posted $0.19 earnings per share. The company’s quarterly revenue was up 16.9% on a year-over-year basis. Research analysts forecast that Veeco Instruments Inc. will post 1.25 EPS for the current fiscal year.

In related news, Director Dennis Thomas St purchased 2,500 shares of the firm’s stock in a transaction dated Monday, May 16th. The stock was bought at an average price of $21.60 per share, with a total value of $54,000.00. Following the completion of the purchase, the director now owns 52,429 shares in the company, valued at approximately $1,132,466.40. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO John P. Kiernan purchased 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 11th. The stock was bought at an average cost of $20.79 per share, with a total value of $103,950.00. Following the purchase, the chief financial officer now owns 89,158 shares of the company’s stock, valued at approximately $1,853,594.82. The disclosure for this purchase can be found here. Company insiders own 2.40% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Phocas Financial Corp. acquired a new stake in shares of Veeco Instruments in the first quarter valued at about $3,294,000. The Manufacturers Life Insurance Company increased its stake in shares of Veeco Instruments by 2.1% in the first quarter. The Manufacturers Life Insurance Company now owns 1,035,260 shares of the semiconductor company’s stock valued at $28,149,000 after buying an additional 20,892 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Veeco Instruments in the first quarter valued at about $100,000. Westerly Capital Management LLC boosted its position in shares of Veeco Instruments by 9.1% during the 1st quarter. Westerly Capital Management LLC now owns 120,000 shares of the semiconductor company’s stock valued at $3,263,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Captrust Financial Advisors boosted its position in shares of Veeco Instruments by 125.0% during the 1st quarter. Captrust Financial Advisors now owns 2,115 shares of the semiconductor company’s stock valued at $58,000 after purchasing an additional 1,175 shares in the last quarter. 97.66% of the stock is owned by institutional investors.

Veeco Instruments Company Profile (NASDAQ:VECO)

Veeco Instruments Inc, together with its subsidiaries, develops, manufactures, sells, and supports semiconductor and thin film process equipment primarily to make electronic devices worldwide. 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, and atomic layer deposition and other deposition systems, as well as packaging lithography equipment.

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