Veeco Instruments (NASDAQ:VECO) Reaches New 52-Week Low at $18.18

Veeco Instruments Inc. (NASDAQ:VECOGet Rating) shares hit a new 52-week low during trading on Friday . The company traded as low as $18.18 and last traded at $18.20, with a volume of 2973 shares changing hands. The stock had previously closed at $19.40.

VECO has been the subject of a number of research reports. Oppenheimer dropped their price target on Veeco Instruments from $40.00 to $35.00 in a research note on Thursday, May 5th. StockNews.com began coverage on Veeco Instruments in a report on Thursday, March 31st. They issued a “hold” rating for the company.

The firm has a market capitalization of $923.91 million, a price-to-earnings ratio of 26.76 and a beta of 1.35. The stock has a fifty day moving average of $21.30 and a two-hundred day moving average of $25.35. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.58 and a quick ratio of 1.77.

Veeco Instruments (NASDAQ:VECOGet Rating) last posted its quarterly earnings data on Monday, May 9th. The semiconductor company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. The business had revenue of $156.30 million during the quarter, compared to the consensus estimate of $154.95 million. Veeco Instruments had a return on equity of 15.58% and a net margin of 6.09%. Veeco Instruments’s quarterly revenue was up 16.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.19 earnings per share. On average, research analysts forecast that Veeco Instruments Inc. will post 1.25 EPS for the current year.

In other Veeco Instruments news, CFO John P. Kiernan purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, May 11th. The stock was purchased at an average cost of $20.79 per share, for a total transaction of $103,950.00. Following the acquisition, the chief financial officer now owns 89,158 shares in the company, valued at approximately $1,853,594.82. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Dennis Thomas St acquired 2,500 shares of the business’s stock in a transaction dated Monday, May 16th. The shares were bought at an average cost of $21.60 per share, for a total transaction of $54,000.00. Following the transaction, the director now directly owns 52,429 shares in the company, valued at $1,132,466.40. The disclosure for this purchase can be found here. Company insiders own 2.40% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Huntington National Bank bought a new position in shares of Veeco Instruments during the 1st quarter worth about $25,000. Outfitter Financial LLC bought a new position in shares of Veeco Instruments during the 4th quarter worth about $36,000. Private Capital Group LLC bought a new position in shares of Veeco Instruments during the 1st quarter worth about $42,000. Captrust Financial Advisors boosted its position in shares of Veeco Instruments by 125.0% during the 1st quarter. Captrust Financial Advisors now owns 2,115 shares of the semiconductor company’s stock worth $58,000 after purchasing an additional 1,175 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Veeco Instruments during the 1st quarter worth about $100,000. 97.66% of the stock is currently owned by institutional investors.

Veeco Instruments Company Profile (NASDAQ:VECO)

Veeco Instruments Inc, together with its subsidiaries, develops, manufactures, sells, and supports semiconductor and thin film process equipment primarily to make electronic devices worldwide. 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, and atomic layer deposition and other deposition systems, as well as packaging lithography equipment.

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