Neuberger Berman Group LLC Sells 79,931 Shares of Veeco Instruments Inc. (NASDAQ:VECO)

Neuberger Berman Group LLC reduced its position in Veeco Instruments Inc. (NASDAQ:VECOGet Rating) by 2.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,807,118 shares of the semiconductor company’s stock after selling 79,931 shares during the quarter. Neuberger Berman Group LLC owned about 0.05% of Veeco Instruments worth $76,407,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of VECO. Invesco Ltd. raised its stake in Veeco Instruments by 22.6% in the first quarter. Invesco Ltd. now owns 5,364,379 shares of the semiconductor company’s stock valued at $145,858,000 after purchasing an additional 988,143 shares in the last quarter. Wasatch Advisors Inc. raised its stake in Veeco Instruments by 28.7% in the first quarter. Wasatch Advisors Inc. now owns 3,221,333 shares of the semiconductor company’s stock valued at $87,588,000 after purchasing an additional 718,458 shares in the last quarter. Victory Capital Management Inc. raised its stake in Veeco Instruments by 1,006.5% in the first quarter. Victory Capital Management Inc. now owns 741,567 shares of the semiconductor company’s stock valued at $20,031,000 after purchasing an additional 674,550 shares in the last quarter. Braun Stacey Associates Inc. purchased a new position in shares of Veeco Instruments during the first quarter worth approximately $14,012,000. Finally, Lisanti Capital Growth LLC purchased a new position in shares of Veeco Instruments during the first quarter worth approximately $11,005,000. 97.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. The Goldman Sachs Group decreased their price target on shares of Veeco Instruments from $28.00 to $24.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 9th. Barclays decreased their price target on shares of Veeco Instruments from $32.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday, July 25th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $30.83.

Veeco Instruments Stock Down 1.6 %

Shares of Veeco Instruments stock opened at $19.61 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.96 and a current ratio of 2.84. Veeco Instruments Inc. has a 52-week low of $17.23 and a 52-week high of $32.40. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 26.50 and a beta of 1.30. The company’s 50 day moving average price is $20.98 and its 200-day moving average price is $22.53.

Veeco Instruments (NASDAQ:VECOGet Rating) last issued its earnings results on Monday, August 8th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.07. The firm had revenue of $164.00 million for the quarter, compared to analysts’ expectations of $160.91 million. Veeco Instruments had a net margin of 6.44% and a return on equity of 16.23%. The business’s revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the business earned $0.26 earnings per share. Equities research analysts forecast that Veeco Instruments Inc. will post 1.3 EPS for the current year.

Veeco Instruments Profile

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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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Institutional Ownership by Quarter for Veeco Instruments (NASDAQ:VECO)

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