Veeco Instruments Inc. (NASDAQ:VECO) Stake Lessened by Candriam Luxembourg S.C.A.

Candriam Luxembourg S.C.A. trimmed its stake in shares of Veeco Instruments Inc. (NASDAQ:VECO) by 20.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 489,002 shares of the semiconductor company’s stock after selling 126,441 shares during the quarter. Candriam Luxembourg S.C.A. owned about 1.02% of Veeco Instruments worth $3,623,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Russell Investments Group Ltd. grew its stake in shares of Veeco Instruments by 443.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 21,200 shares of the semiconductor company’s stock valued at $217,000 after buying an additional 17,300 shares during the period. Alambic Investment Management L.P. boosted its position in Veeco Instruments by 107.9% during the 3rd quarter. Alambic Investment Management L.P. now owns 39,705 shares of the semiconductor company’s stock worth $407,000 after purchasing an additional 20,605 shares during the period. Westpac Banking Corp boosted its position in Veeco Instruments by 10.5% during the 3rd quarter. Westpac Banking Corp now owns 297,840 shares of the semiconductor company’s stock worth $3,053,000 after purchasing an additional 28,400 shares during the period. Dimensional Fund Advisors LP boosted its position in Veeco Instruments by 0.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,336,188 shares of the semiconductor company’s stock worth $34,196,000 after purchasing an additional 18,822 shares during the period. Finally, Baillie Gifford & Co. boosted its position in Veeco Instruments by 15.9% during the 3rd quarter. Baillie Gifford & Co. now owns 1,497,372 shares of the semiconductor company’s stock worth $15,348,000 after purchasing an additional 205,958 shares during the period. 92.70% of the stock is owned by hedge funds and other institutional investors.

VECO has been the topic of a number of recent analyst reports. BidaskClub upgraded shares of Veeco Instruments from a “sell” rating to a “hold” rating in a report on Thursday, December 27th. ValuEngine lowered shares of Veeco Instruments from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. Zacks Investment Research upgraded shares of Veeco Instruments from a “hold” rating to a “buy” rating and set a $8.75 price objective on the stock in a report on Saturday, January 5th. Benchmark reiterated a “hold” rating on shares of Veeco Instruments in a report on Tuesday, February 12th. Finally, Stifel Nicolaus lowered shares of Veeco Instruments from a “buy” rating to a “hold” rating and set a $12.00 price objective on the stock. in a report on Wednesday, March 6th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $20.67.

VECO stock traded down $0.10 during trading on Monday, reaching $11.91. The stock had a trading volume of 138,842 shares, compared to its average volume of 338,279. The firm has a market capitalization of $576.84 million, a P/E ratio of -297.75 and a beta of 1.26. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.25 and a quick ratio of 2.27. Veeco Instruments Inc. has a 1-year low of $6.27 and a 1-year high of $19.50.

Veeco Instruments (NASDAQ:VECO) last issued its earnings results on Monday, February 11th. The semiconductor company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01). The company had revenue of $98.97 million during the quarter, compared to analyst estimates of $95.95 million. Veeco Instruments had a negative net margin of 75.10% and a negative return on equity of 0.31%. On average, sell-side analysts anticipate that Veeco Instruments Inc. will post -0.62 EPS for the current year.

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About Veeco Instruments

Veeco Instruments Inc, together with its subsidiaries, develops, manufactures, sells, and supports semiconductor and thin film process equipment primarily to make electronic devices worldwide. It offers metal organic chemical vapor deposition systems; packaging lithography equipment; precision surface processing systems; laser annealing systems; ion beam deposition and etch systems; molecular beam epitaxy systems; 3D wafer inspection systems; and atomic layer deposition and other deposition systems.

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

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