First Trust Advisors LP raised its stake in Veeco Instruments Inc. (NASDAQ:VECO) by 31.1% during the second quarter, Holdings Channel reports. The fund owned 52,113 shares of the company’s stock after buying an additional 12,372 shares during the period. First Trust Advisors LP owned about 0.13% of Veeco Instruments worth $863,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in the company. Anchor Capital Advisors LLC increased its stake in shares of Veeco Instruments by 0.7% in the second quarter. Anchor Capital Advisors LLC now owns 26,081 shares of the company’s stock valued at $432,000 after buying an additional 178 shares during the last quarter. Prudential Financial Inc. increased its stake in shares of Veeco Instruments by 0.7% in the first quarter. Prudential Financial Inc. now owns 95,573 shares of the company’s stock worth $1,862,000 after buying an additional 700 shares in the last quarter. Value Holdings LP increased its stake in shares of Veeco Instruments by 8.0% in the second quarter. Value Holdings LP now owns 27,100 shares of the company’s stock worth $449,000 after buying an additional 2,000 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Veeco Instruments by 5.4% in the second quarter. Nordea Investment Management AB now owns 44,710 shares of the company’s stock worth $740,000 after buying an additional 2,309 shares in the last quarter. Finally, BlackRock Group LTD increased its stake in shares of Veeco Instruments by 0.5% in the first quarter. BlackRock Group LTD now owns 752,718 shares of the company’s stock worth $14,662,000 after buying an additional 3,757 shares in the last quarter. 94.95% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Veeco Instruments Inc. (NASDAQ:VECO) traded down 0.14% on Friday, hitting $21.86. 106,834 shares of the stock traded hands. Veeco Instruments Inc. has a 12-month low of $15.26 and a 12-month high of $22.06. The firm’s 50-day moving average is $19.82 and its 200 day moving average is $18.40. The firm’s market cap is $888.35 million.
Veeco Instruments (NASDAQ:VECO) last released its earnings results on Monday, August 1st. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.01. Veeco Instruments had a negative net margin of 13.00% and a negative return on equity of 2.37%. The firm earned $75.30 million during the quarter, compared to analyst estimates of $76.30 million. During the same quarter in the previous year, the firm earned $0.20 earnings per share. The firm’s revenue for the quarter was down 42.7% compared to the same quarter last year. Equities research analysts forecast that Veeco Instruments Inc. will post ($0.50) EPS for the current fiscal year.
VECO has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Veeco Instruments in a research report on Wednesday, August 24th. Benchmark Co. increased their price objective on shares of Veeco Instruments from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, September 12th. Deutsche Bank AG raised shares of Veeco Instruments from a “hold” rating to a “buy” rating and increased their price objective for the company from $16.00 to $22.00 in a research report on Tuesday, August 2nd. Finally, Zacks Investment Research raised shares of Veeco Instruments from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research report on Tuesday, July 12th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $23.40.
About Veeco Instruments
Veeco Instruments Inc designs, manufactures, markets and supports thin film equipment. The Company’s equipment is used to make electronic devices, including light emitting diodes (LED), micro-electromechanical systems (MEMS), wireless devices, power electronics, hard disk drives (HDDs) and semiconductors.
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