Mirabella Financial Services LLP Sells 61,960 Shares of Veeco Instruments Inc. $VECO

Mirabella Financial Services LLP trimmed its holdings in shares of Veeco Instruments Inc. (NASDAQ:VECO) by 89.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 7,455 shares of the semiconductor company’s stock after selling 61,960 shares during the period. Mirabella Financial Services LLP’s holdings in Veeco Instruments were worth $227,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Federated Hermes Inc. lifted its stake in shares of Veeco Instruments by 262.1% in the 2nd quarter. Federated Hermes Inc. now owns 1,068,950 shares of the semiconductor company’s stock valued at $21,721,000 after acquiring an additional 773,763 shares during the last quarter. American Century Companies Inc. grew its position in Veeco Instruments by 920.1% during the 3rd quarter. American Century Companies Inc. now owns 676,502 shares of the semiconductor company’s stock worth $20,586,000 after acquiring an additional 610,187 shares during the last quarter. Segall Bryant & Hamill LLC increased its stake in Veeco Instruments by 152.3% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 573,764 shares of the semiconductor company’s stock worth $17,460,000 after purchasing an additional 346,340 shares during the period. Fisher Asset Management LLC increased its stake in Veeco Instruments by 32.6% in the 3rd quarter. Fisher Asset Management LLC now owns 1,324,590 shares of the semiconductor company’s stock worth $40,307,000 after purchasing an additional 325,357 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in Veeco Instruments by 9.7% in the second quarter. The Manufacturers Life Insurance Company now owns 3,215,031 shares of the semiconductor company’s stock valued at $65,329,000 after purchasing an additional 284,716 shares during the last quarter. Hedge funds and other institutional investors own 98.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on VECO shares. Needham & Company LLC reissued a “hold” rating on shares of Veeco Instruments in a research note on Thursday, February 26th. Zacks Research upgraded shares of Veeco Instruments from a “hold” rating to a “strong-buy” rating in a report on Monday, March 2nd. Citigroup increased their price target on shares of Veeco Instruments from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Veeco Instruments in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Veeco Instruments currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.17.

Veeco Instruments Trading Up 1.3%

Shares of VECO opened at $31.41 on Friday. Veeco Instruments Inc. has a 1-year low of $16.92 and a 1-year high of $35.77. The company has a current ratio of 4.75, a quick ratio of 3.20 and a debt-to-equity ratio of 0.26. The firm’s 50-day moving average price is $31.59 and its 200-day moving average price is $29.96. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 53.24 and a beta of 1.17.

Insiders Place Their Bets

In other Veeco Instruments news, CEO William John Miller sold 50,000 shares of Veeco Instruments stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $31.62, for a total transaction of $1,581,000.00. Following the sale, the chief executive officer directly owned 414,543 shares of the company’s stock, valued at approximately $13,107,849.66. The trade was a 10.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.40% of the company’s stock.

Veeco Instruments Profile

Veeco Instruments Inc (NASDAQ: VECO) is a leading supplier of process equipment for the semiconductor, data storage, wireless communications, power electronics and advanced packaging industries. The company designs, manufactures and services precision tools used to grow, deposit and etch thin films on substrates, enabling the fabrication of chips, light-emitting diodes (LEDs), micro-electromechanical systems (MEMS) and high-density storage devices. Veeco’s platforms are deployed across fabrication facilities worldwide, where they support key processes in materials science and device manufacturing.

Veeco’s product portfolio spans molecular beam epitaxy (MBE), metal organic chemical vapor deposition (MOCVD), atomic layer deposition (ALD), ion beam etch and deposition, and high-precision wet and dry etch systems.