Insider Selling: Veeco Instruments Inc. (NASDAQ:VECO) SVP Sells $170,500.00 in Stock

Veeco Instruments Inc. (NASDAQ:VECOGet Free Report) SVP Adrian Devasahayam sold 5,000 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $34.10, for a total value of $170,500.00. Following the transaction, the senior vice president now owns 67,278 shares of the company’s stock, valued at $2,294,179.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Veeco Instruments Price Performance

Shares of VECO opened at $34.69 on Thursday. The company has a current ratio of 3.24, a quick ratio of 2.15 and a debt-to-equity ratio of 0.41. The stock has a 50 day simple moving average of $33.66 and a 200 day simple moving average of $29.97. Veeco Instruments Inc. has a 52-week low of $17.70 and a 52-week high of $37.75.

Veeco Instruments (NASDAQ:VECOGet Free Report) last issued its quarterly earnings data on Wednesday, February 14th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.09. Veeco Instruments had a positive return on equity of 11.10% and a negative net margin of 4.56%. The business had revenue of $173.92 million during the quarter, compared to analyst estimates of $170.00 million. On average, sell-side analysts forecast that Veeco Instruments Inc. will post 1.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Veeco Instruments

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Veeco Instruments by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 6,739,727 shares of the semiconductor company’s stock worth $209,134,000 after acquiring an additional 49,606 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Veeco Instruments by 22.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 26,442 shares of the semiconductor company’s stock worth $821,000 after purchasing an additional 4,867 shares in the last quarter. GSA Capital Partners LLP raised its stake in shares of Veeco Instruments by 56.6% during the 4th quarter. GSA Capital Partners LLP now owns 34,843 shares of the semiconductor company’s stock worth $1,081,000 after purchasing an additional 12,598 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Veeco Instruments by 2.9% during the 4th quarter. Legal & General Group Plc now owns 153,945 shares of the semiconductor company’s stock worth $4,777,000 after purchasing an additional 4,393 shares in the last quarter. Finally, Needham Investment Management LLC raised its stake in shares of Veeco Instruments by 39.3% during the 4th quarter. Needham Investment Management LLC now owns 425,000 shares of the semiconductor company’s stock worth $13,188,000 after purchasing an additional 120,000 shares in the last quarter. Institutional investors and hedge funds own 98.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on VECO shares. The Goldman Sachs Group lifted their price target on Veeco Instruments from $31.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. Citigroup lifted their price target on Veeco Instruments from $36.00 to $43.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Barclays lifted their price target on Veeco Instruments from $28.00 to $33.00 and gave the company an “equal weight” rating in a report on Tuesday, January 16th. Finally, Benchmark lifted their price target on Veeco Instruments from $34.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $36.57.

Check Out Our Latest Report on VECO

Veeco Instruments Company Profile

(Get 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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Insider Buying and Selling by Quarter for Veeco Instruments (NASDAQ:VECO)

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