Veeco Instruments (NASDAQ:VECO) SVP Sells $130,934.00 in Stock

Veeco Instruments Inc. (NASDAQ:VECO) SVP Adrian Devasahayam sold 3,851 shares of Veeco Instruments stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $34.00, for a total transaction of $130,934.00. Following the sale, the senior vice president owned 78,269 shares in the company, valued at approximately $2,661,146. This represents a 4.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Adrian Devasahayam also recently made the following trade(s):

• On Tuesday, September 23rd, Adrian Devasahayam sold 4,014 shares of Veeco Instruments stock. The stock was sold at an average price of $30.00, for a total transaction of $120,420.00.
• On Monday, September 15th, Adrian Devasahayam sold 4,046 shares of Veeco Instruments stock. The stock was sold at an average price of $26.00, for a total transaction of $105,196.00.

Veeco Instruments Stock Down 4.5%

NASDAQ:VECO opened at $31.61 on Friday. The firm’s 50 day simple moving average is $25.37 and its 200 day simple moving average is $21.90. The company has a debt-to-equity ratio of 0.26, a current ratio of 5.10 and a quick ratio of 3.43. Veeco Instruments Inc. has a one year low of $16.92 and a one year high of $34.45. The company has a market cap of $1.90 billion, a PE ratio of 30.99 and a beta of 1.27.

Veeco Instruments (NASDAQ:VECO) last posted its earnings results on Wednesday, August 6th. The semiconductor company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.22 by $0.14. Veeco Instruments had a net margin of 8.65% and a return on equity of 7.38%. The business had revenue of $166.10 million for the quarter, compared to the consensus estimate of $151.31 million. During the same period last year, the company earned $0.42 EPS. The firm’s revenue was down 5.6% compared to the same quarter last year. On average, research analysts anticipate that Veeco Instruments Inc. will post 0.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on VECO shares. Benchmark cut their target price on shares of Veeco Instruments from $31.00 to $28.00 and set a “buy” rating on the stock in a research report on Thursday, August 7th. Needham & Company LLC lowered shares of Veeco Instruments from a “buy” rating to a “hold” rating in a report on Friday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Veeco Instruments in a report on Saturday, September 27th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Veeco Instruments presently has an average rating of “Hold” and an average target price of $27.33.

Institutional Trading of Veeco Instruments

A number of hedge funds and other institutional investors have recently bought and sold shares of VECO. Praxis Investment Management Inc. purchased a new position in Veeco Instruments during the 3rd quarter worth $242,000. Squarepoint Ops LLC boosted its holdings in Veeco Instruments by 133.3% during the 2nd quarter. Squarepoint Ops LLC now owns 76,895 shares of the semiconductor company’s stock worth $1,563,000 after acquiring an additional 43,941 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in Veeco Instruments by 3.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 44,071 shares of the semiconductor company’s stock worth $896,000 after acquiring an additional 1,516 shares during the last quarter. Public Sector Pension Investment Board boosted its holdings in Veeco Instruments by 11.2% during the 2nd quarter. Public Sector Pension Investment Board now owns 204,371 shares of the semiconductor company’s stock worth $4,153,000 after acquiring an additional 20,661 shares during the last quarter. Finally, FORA Capital LLC purchased a new position in Veeco Instruments during the 2nd quarter worth $231,000. Institutional investors own 98.46% of the company’s stock.

Veeco Instruments Company Profile

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.