Veeco Instruments Inc. (VECO) Shares Bought by California Public Employees Retirement System
California Public Employees Retirement System increased its position in Veeco Instruments Inc. (NASDAQ:VECO) by 10.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,300 shares of the company’s stock after buying an additional 10,700 shares during the period. California Public Employees Retirement System owned approximately 0.29% of Veeco Instruments worth $1,942,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of VECO. BNP Paribas Arbitrage SA increased its position in Veeco Instruments by 106.8% in the second quarter. BNP Paribas Arbitrage SA now owns 12,435 shares of the company’s stock worth $206,000 after buying an additional 6,421 shares during the last quarter. Springbok Capital Management LLC increased its position in Veeco Instruments by 64.0% in the first quarter. Springbok Capital Management LLC now owns 10,985 shares of the company’s stock worth $214,000 after buying an additional 4,285 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Veeco Instruments during the first quarter worth about $1,289,000. Renaissance Technologies LLC increased its position in Veeco Instruments by 18.6% in the first quarter. Renaissance Technologies LLC now owns 1,290,500 shares of the company’s stock worth $25,139,000 after buying an additional 202,140 shares during the last quarter. Finally, Springbank Value Partners LP increased its position in Veeco Instruments by 71.4% in the first quarter. Springbank Value Partners LP now owns 12,000 shares of the company’s stock worth $234,000 after buying an additional 5,000 shares during the last quarter. 94.95% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Veeco Instruments Inc. (NASDAQ:VECO) traded up 4.135% during trading on Thursday, hitting $21.785. 205,074 shares of the stock traded hands. Veeco Instruments Inc. has a 52 week low of $15.26 and a 52 week high of $22.06. The firm’s market cap is $885.30 million. The company has a 50-day moving average of $19.78 and a 200-day moving average of $18.38.
Veeco Instruments (NASDAQ:VECO) last released its quarterly earnings results on Monday, August 1st. The company reported ($0.19) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.01. The company had revenue of $75.30 million for the quarter, compared to analysts’ expectations of $76.30 million. Veeco Instruments had a negative return on equity of 2.37% and a negative net margin of 13.00%. The business’s quarterly revenue was down 42.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.20 earnings per share. On average, analysts forecast that Veeco Instruments Inc. will post ($0.52) EPS for the current fiscal year.
VECO has been the topic of a number of research reports. Pacific Crest restated an “overweight” rating and set a $23.00 target price on shares of Veeco Instruments in a research report on Wednesday, June 8th. Zacks Investment Research upgraded shares of Veeco Instruments from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Tuesday, July 12th. Deutsche Bank AG upgraded shares of Veeco Instruments from a “hold” rating to a “buy” rating and increased their price target for the company from $16.00 to $22.00 in a research report on Tuesday, August 2nd. Benchmark Co. cut their price target on shares of Veeco Instruments from $23.00 to $21.00 and set a “buy” rating on the stock in a research report on Tuesday, August 2nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Veeco Instruments in a research report on Wednesday, August 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $23.40.
Veeco Instruments Company Profile
Veeco Instruments Inc designs, manufactures, markets and supports thin film equipment. The Company’s equipment is used to make electronic devices, including light emitting diodes (LED), micro-electromechanical systems (MEMS), wireless devices, power electronics, hard disk drives (HDDs) and semiconductors.
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