Connor Clark & Lunn Investment Management Ltd. Buys 34,418 Shares of Veeco Instruments Inc. (NASDAQ:VECO)

Posted by Defense World Staff on Aug 20th, 2023

Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Veeco Instruments Inc. (NASDAQ:VECO – Free Report) by 24.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 174,179 shares of the semiconductor company’s stock after acquiring an additional 34,418 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.34% of Veeco Instruments worth $3,680,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kovack Advisors Inc. increased its holdings in Veeco Instruments by 26.1% in the 4th quarter. Kovack Advisors Inc. now owns 30,350 shares of the semiconductor company’s stock worth $564,000 after buying an additional 6,275 shares in the last quarter. Intrust Bank NA bought a new stake in Veeco Instruments in the 1st quarter worth about $250,000. Versor Investments LP increased its holdings in Veeco Instruments by 17.9% in the 1st quarter. Versor Investments LP now owns 20,041 shares of the semiconductor company’s stock worth $423,000 after buying an additional 3,041 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Veeco Instruments by 348.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,028,237 shares of the semiconductor company’s stock worth $21,727,000 after buying an additional 798,994 shares in the last quarter. Finally, Neumeier Poma Investment Counsel LLC increased its holdings in Veeco Instruments by 1.2% in the 4th quarter. Neumeier Poma Investment Counsel LLC now owns 1,298,760 shares of the semiconductor company’s stock worth $24,131,000 after buying an additional 15,110 shares in the last quarter.

Veeco Instruments Trading Up 0.6 %

Shares of NASDAQ:VECO opened at $28.25 on Friday. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 34.04 and a beta of 1.24. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.65 and a current ratio of 2.51. The stock’s 50-day simple moving average is $26.55 and its two-hundred day simple moving average is $22.98. Veeco Instruments Inc. has a 52-week low of $16.11 and a 52-week high of $31.09.

Insider Activity

In other news, SVP Adrian Devasahayam sold 4,671 shares of Veeco Instruments stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $30.00, for a total transaction of $140,130.00. Following the transaction, the senior vice president now directly owns 76,793 shares of the company’s stock, valued at approximately $2,303,790. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, SVP Adrian Devasahayam sold 4,671 shares of Veeco Instruments stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $30.00, for a total transaction of $140,130.00. Following the transaction, the senior vice president now directly owns 76,793 shares of the company’s stock, valued at approximately $2,303,790. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Susan Wilkerson sold 2,163 shares of Veeco Instruments stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $24.18, for a total value of $52,301.34. Following the transaction, the senior vice president now directly owns 50,248 shares in the company, valued at $1,214,996.64. The disclosure for this sale can be found here. Insiders have sold a total of 8,334 shares of company stock valued at $237,506 in the last ninety days. Corporate insiders own 2.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on VECO. Benchmark lifted their price objective on Veeco Instruments from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, August 8th. Northland Securities lifted their price objective on Veeco Instruments from $32.00 to $37.00 in a report on Tuesday, August 8th. StockNews.com began coverage on Veeco Instruments in a research report on Thursday. They issued a “hold” rating on the stock. Oppenheimer raised their target price on Veeco Instruments from $25.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, August 3rd. Finally, Barclays raised their target price on Veeco Instruments from $25.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 8th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Veeco Instruments presently has a consensus rating of “Hold” and a consensus target price of $31.60.

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Veeco Instruments Profile

(Free Report)

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.