Fisher Asset Management LLC Reduces Stock Holdings in Veeco Instruments Inc. (NASDAQ:VECO)

Posted by on Apr 25th, 2023

Fisher Asset Management LLC lowered its position in shares of Veeco Instruments Inc. (NASDAQ:VECO – Get Rating) by 1.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 917,506 shares of the semiconductor company’s stock after selling 10,921 shares during the quarter. Fisher Asset Management LLC owned about 1.78% of Veeco Instruments worth $17,047,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Legal & General Group Plc raised its holdings in Veeco Instruments by 0.7% in the 2nd quarter. Legal & General Group Plc now owns 122,585 shares of the semiconductor company’s stock worth $2,378,000 after purchasing an additional 841 shares during the period. White Pine Capital LLC increased its holdings in Veeco Instruments by 4.3% in the third quarter. White Pine Capital LLC now owns 20,805 shares of the semiconductor company’s stock valued at $381,000 after buying an additional 865 shares during the last quarter. Captrust Financial Advisors grew its holdings in shares of Veeco Instruments by 125.0% during the first quarter. Captrust Financial Advisors now owns 2,115 shares of the semiconductor company’s stock worth $58,000 after buying an additional 1,175 shares during the last quarter. Credit Suisse AG grew its holdings in shares of Veeco Instruments by 3.2% during the third quarter. Credit Suisse AG now owns 41,992 shares of the semiconductor company’s stock worth $768,000 after buying an additional 1,287 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its position in Veeco Instruments by 2.2% in the third quarter. Alliancebernstein L.P. now owns 59,900 shares of the semiconductor company’s stock valued at $1,097,000 after purchasing an additional 1,313 shares during the period.

Veeco Instruments Stock Up 0.2 %

VECO stock opened at $18.95 on Tuesday. Veeco Instruments Inc. has a 12 month low of $16.11 and a 12 month high of $24.78. The firm has a market cap of $977.44 million, a PE ratio of 7.04 and a beta of 1.27. The firm has a 50 day simple moving average of $20.56 and a 200 day simple moving average of $19.67. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.59 and a quick ratio of 1.79.

Veeco Instruments (NASDAQ:VECO – Get Rating) last issued its quarterly earnings results on Wednesday, February 15th. The semiconductor company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.26 by $0.03. The business had revenue of $153.80 million during the quarter, compared to the consensus estimate of $161.00 million. Veeco Instruments had a net margin of 25.84% and a return on equity of 14.98%. Equities research analysts forecast that Veeco Instruments Inc. will post 0.88 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Barclays downgraded Veeco Instruments from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $19.00 to $20.00 in a research report on Monday, January 23rd. Benchmark lowered their price objective on shares of Veeco Instruments from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, January 13th. Finally, StockNews.com assumed coverage on shares of Veeco Instruments in a research note on Thursday, March 16th. They set a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $21.50.

Veeco Instruments Profile

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Veeco Instruments, Inc engages in the development, manufacture, sale and support of semiconductor process equipment. Its technologies consists of metal organic chemical vapor deposition, advanced packaging lithography, wet etch and clean, laser annealing, ion beam, molecular beam epitaxy, wafer inspection, and atomic layer deposition systems.

Further Reading

Institutional Ownership by Quarter for Veeco Instruments (NASDAQ:VECO)

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