Moloney Securities Asset Management LLC Increases Position in Veeco Instruments Inc. (NASDAQ:VECO)

by · The Markets Daily

Moloney Securities Asset Management LLC lifted its stake in shares of Veeco Instruments Inc. (NASDAQ:VECO – Free Report) by 41.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,076 shares of the semiconductor company’s stock after acquiring an additional 9,442 shares during the quarter. Moloney Securities Asset Management LLC owned 0.06% of Veeco Instruments worth $1,063,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. New York State Common Retirement Fund increased its position in shares of Veeco Instruments by 249.0% during the third quarter. New York State Common Retirement Fund now owns 430,757 shares of the semiconductor company’s stock worth $14,271,000 after acquiring an additional 307,348 shares during the period. US Bancorp DE increased its position in shares of Veeco Instruments by 14.8% during the third quarter. US Bancorp DE now owns 3,864 shares of the semiconductor company’s stock worth $128,000 after acquiring an additional 498 shares during the period. Dumont & Blake Investment Advisors LLC increased its position in shares of Veeco Instruments by 74.6% during the third quarter. Dumont & Blake Investment Advisors LLC now owns 35,295 shares of the semiconductor company’s stock worth $1,169,000 after acquiring an additional 15,075 shares during the period. Riverwater Partners LLC increased its position in shares of Veeco Instruments by 17.3% during the third quarter. Riverwater Partners LLC now owns 67,809 shares of the semiconductor company’s stock worth $2,202,000 after acquiring an additional 10,011 shares during the period. Finally, International Assets Investment Management LLC increased its position in shares of Veeco Instruments by 3,213.1% during the third quarter. International Assets Investment Management LLC now owns 4,804 shares of the semiconductor company’s stock worth $145,000 after acquiring an additional 4,659 shares during the period. Hedge funds and other institutional investors own 98.46% of the company’s stock.

Insider Buying and Selling at Veeco Instruments

In other news, CFO John P. Kiernan sold 2,500 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $32.63, for a total value of $81,575.00. Following the completion of the sale, the chief financial officer now directly owns 82,642 shares of the company’s stock, valued at approximately $2,696,608.46. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.20% of the stock is currently owned by insiders.

Veeco Instruments Stock Performance

NASDAQ VECO opened at $29.14 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.52 and a quick ratio of 2.32. Veeco Instruments Inc. has a 1 year low of $24.56 and a 1 year high of $49.25. The company has a market capitalization of $1.65 billion, a PE ratio of 20.67 and a beta of 1.17. The company has a fifty day moving average of $31.56 and a two-hundred day moving average of $37.59.

Veeco Instruments (NASDAQ:VECO – Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.01). Veeco Instruments had a net margin of 11.83% and a return on equity of 12.03%. The company had revenue of $175.88 million during the quarter, compared to analyst estimates of $176.03 million. During the same quarter in the prior year, the company earned $0.21 EPS. The business’s revenue was up 8.8% on a year-over-year basis. As a group, analysts expect that Veeco Instruments Inc. will post 1.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

VECO has been the topic of a number of recent research reports. StockNews.com raised Veeco Instruments from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Needham & Company LLC reiterated a “buy” rating and set a $55.00 target price on shares of Veeco Instruments in a research note on Wednesday, August 7th. Northland Securities lowered their target price on shares of Veeco Instruments from $53.00 to $47.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Citigroup downgraded shares of Veeco Instruments from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $45.00 to $50.00 in a research note on Monday, July 15th. Finally, The Goldman Sachs Group lowered their target price on shares of Veeco Instruments from $39.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.57.

Check Out Our Latest Analysis on Veeco Instruments

About Veeco Instruments

(Free Report)

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.

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