Veeco Instruments Inc. (NASDAQ:VECO) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its holdings in Veeco Instruments Inc. (NASDAQ:VECO) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,216 shares of the semiconductor company’s stock after acquiring an additional 918 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Veeco Instruments were worth $720,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. Oregon Public Employees Retirement Fund increased its position in Veeco Instruments by 3.7% during the third quarter. Oregon Public Employees Retirement Fund now owns 16,723 shares of the semiconductor company’s stock worth $470,000 after purchasing an additional 600 shares during the last quarter. Maryland State Retirement & Pension System raised its holdings in shares of Veeco Instruments by 3.0% during the third quarter. Maryland State Retirement & Pension System now owns 20,754 shares of the semiconductor company’s stock worth $583,000 after purchasing an additional 614 shares during the period. Amalgamated Bank increased its holdings in shares of Veeco Instruments by 3.6% in the 3rd quarter. Amalgamated Bank now owns 21,426 shares of the semiconductor company’s stock worth $602,000 after acquiring an additional 747 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Veeco Instruments by 28.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,543 shares of the semiconductor company’s stock worth $100,000 after acquiring an additional 782 shares during the period. Finally, NBC Securities Inc. acquired a new position in Veeco Instruments during the 3rd quarter valued at about $26,000. Hedge funds and other institutional investors own 98.46% of the company’s stock.

Analysts Set New Price Targets

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

Veeco Instruments Stock Up 0.5 %

Shares of NASDAQ:VECO opened at $33.89 on Thursday. Veeco Instruments Inc. has a 52 week low of $17.70 and a 52 week high of $37.75. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.15 and a current ratio of 3.24. The company’s fifty day moving average is $35.11 and its 200-day moving average is $31.27. The company has a market capitalization of $1.91 billion, a PE ratio of -52.14 and a beta of 1.20.

Veeco Instruments (NASDAQ:VECO) last posted its earnings results on Wednesday, February 14th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, topping 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 company had revenue of $173.92 million during the quarter, compared to analyst estimates of $170.00 million. Equities research analysts predict that Veeco Instruments Inc. will post 1.39 earnings per share for the current fiscal year.

Insider Transactions at Veeco Instruments

In related news, 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 sale, the senior vice president now owns 67,278 shares in the company, valued at approximately $2,294,179.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, 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 transaction of $170,500.00. Following the sale, the senior vice president now directly owns 67,278 shares of the company’s stock, valued at approximately $2,294,179.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO William John Miller sold 24,201 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $35.30, for a total value of $854,295.30. Following the completion of the sale, the chief executive officer now directly owns 545,091 shares in the company, valued at $19,241,712.30. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.

About Veeco Instruments

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.