Shares of Veeco Instruments Inc. (NASDAQ:VECO – Get Rating) hit a new 52-week low on Friday. The stock traded as low as $18.18 and last traded at $18.20, with a volume of 2,973 shares traded. The stock had previously closed at $19.40.
Several brokerages have recently weighed in on VECO. StockNews.com began covering Veeco Instruments in a research note on Thursday, March 31. They have placed a “holding” rating on the stock. Oppenheimer lowered his target price on Veeco Instruments from $40.00 to $35.00 in a Thursday, May 5 research note.
The stock has a 50-day simple moving average of $21.20 and a 200-day simple moving average of $25.29. The company has a current ratio of 2.58, a quick ratio of 1.77 and a debt ratio of 0.63. The company has a market capitalization of $926.47 million, a price-earnings ratio of 26.59 and a beta of 1.35.
Veeco Instruments (NASDAQ:VECO – Get Rating) last released its quarterly results on Monday, May 9. The semiconductor company reported EPS of $0.31 for the quarter, beating analyst consensus estimates of $0.29 by $0.02. Veeco Instruments achieved a return on equity of 15.58% and a net margin of 6.09%. The company posted revenue of $156.30 million in the quarter, compared to $154.95 million expected by analysts. In the same quarter a year earlier, the company posted EPS of $0.19. The company’s revenue increased by 16.9% compared to the same quarter last year. As a group, research analysts expect Veeco Instruments Inc. to post EPS of 1.25 for the current fiscal year.
Separately, director Dennis Thomas St acquired 2,500 shares of the company in a transaction dated Monday, May 16. The shares were acquired at an average price of $21.60 per share, with a total value of $54,000.00. Following the acquisition, the administrator now directly owns 52,429 shares of the company, valued at approximately $1,132,466.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Additionally, Chief Financial Officer John P. Kiernan acquired 5,000 shares of the company in a transaction dated Wednesday, May 11. The stock was purchased at an average cost of $20.79 per share, with a total value of $103,950.00. Following the acquisition, the CFO now owns 89,158 shares of the company, valued at $1,853,594.82. Disclosure of this purchase can be found here. Insiders hold 2.40% of the shares of the company.
Hedge funds have recently changed their holdings in the company. Huntington National Bank acquired a new position in Veeco Instruments in Q1 worth approximately $25,000. Outfitter Financial LLC acquired a new position in Veeco Instruments in Q4 worth approximately $36,000. Private Capital Group LLC acquired a new position in Veeco Instruments in Q1 worth approximately $42,000. Captrust Financial Advisors increased its stake in Veeco Instruments by 125.0% in the 1st quarter. Captrust Financial Advisors now owns 2,115 shares of the semiconductor company worth $58,000 after buying 1,175 additional shares during the period. Finally, Quantbot Technologies LP acquired a new position in Veeco Instruments in Q1 worth approximately $100,000. 97.66% of the shares are held by institutional investors and hedge funds.
About Veeco Instruments (NASDAQ: VECO)
Veeco Instruments Inc, together with its subsidiaries, develops, manufactures, sells and supports semiconductor and thin film processing equipment primarily to manufacture electronic devices worldwide. The company offers laser annealing, ion beam deposition and etching, chemical vapor deposition of organo-metallics, single wafer wet processing and surface preparation, molecular beam epitaxy , atomic layer deposition and other deposition systems, as well as packaging lithography equipment.
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