Menta Capital LLC Takes Position in Veeco Instruments Inc. (VECO)
Menta Capital LLC acquired a new stake in Veeco Instruments Inc. (NASDAQ:VECO) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 55,010 shares of the semiconductor company’s stock, valued at approximately $1,532,000. Menta Capital LLC owned approximately 0.14% of Veeco Instruments as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Boston Partners purchased a new stake in shares of Veeco Instruments in the second quarter valued at $3,485,000. Symphony Asset Management LLC lifted its position in shares of Veeco Instruments by 66.8% in the second quarter. Symphony Asset Management LLC now owns 46,404 shares of the semiconductor company’s stock valued at $1,292,000 after acquiring an additional 18,582 shares in the last quarter. Eagle Asset Management Inc. lifted its position in shares of Veeco Instruments by 0.8% in the second quarter. Eagle Asset Management Inc. now owns 2,480,198 shares of the semiconductor company’s stock valued at $69,073,000 after acquiring an additional 18,713 shares in the last quarter. Great West Life Assurance Co. Can lifted its position in shares of Veeco Instruments by 19.6% in the second quarter. Great West Life Assurance Co. Can now owns 69,327 shares of the semiconductor company’s stock valued at $1,927,000 after acquiring an additional 11,376 shares in the last quarter. Finally, FNY Partners Fund LP purchased a new stake in shares of Veeco Instruments in the first quarter valued at $126,000. Institutional investors and hedge funds own 96.00% of the company’s stock.
Several analysts have recently issued reports on the company. J P Morgan Chase & Co upgraded Veeco Instruments from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $35.00 to $39.00 in a research report on Tuesday, June 13th. Stifel Nicolaus restated a “buy” rating and issued a $38.00 price objective (up from $36.00) on shares of Veeco Instruments in a research report on Friday, July 21st. BidaskClub downgraded Veeco Instruments from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 17th. Needham & Company LLC reduced their price objective on Veeco Instruments from $36.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday, August 30th. Finally, KeyCorp reduced their price objective on Veeco Instruments from $34.00 to $31.00 and set an “overweight” rating on the stock in a research report on Friday, August 18th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $31.70.
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Veeco Instruments Inc. (NASDAQ VECO) opened at 20.80 on Friday. The stock’s market capitalization is $1.01 billion. The company’s 50-day moving average price is $20.83 and its 200 day moving average price is $27.97. Veeco Instruments Inc. has a 52-week low of $18.30 and a 52-week high of $34.38.
Veeco Instruments (NASDAQ:VECO) last issued its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.03. Veeco Instruments had a negative return on equity of 1.33% and a negative net margin of 23.65%. The business had revenue of $115.07 million for the quarter, compared to the consensus estimate of $110.87 million. During the same quarter in the previous year, the company posted ($0.19) earnings per share. Veeco Instruments’s revenue for the quarter was up 52.7% compared to the same quarter last year. On average, equities research analysts anticipate that Veeco Instruments Inc. will post $0.47 earnings per share for the current year.
Veeco Instruments Company Profile
Veeco Instruments Inc is engaged in the design, development, manufacture and support of thin film process equipment, primarily sold to make electronic devices. The Company’s geographical segments include the United States; China; Europe, Middle East and Africa (EMEA), and Rest of World (ROW). The Company’s portfolio of technology solutions focus on market areas, including Lighting, Display & Power Electronics; Advanced Packaging, micro-electromechanical systems (MEMS) & radio frequency (RF); Scientific & Industrial, and Data Storage.
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