Veeco Instruments Target of Unusually High Options Trading (NASDAQ:VECO)


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Veeco Instruments Inc. (NASDAQ:VECO) was the recipient of unusually large options trading on Wednesday. Stock investors purchased 13,991 call options on the company. This represents an increase of approximately 1,840% compared to the average volume of 721 call options.

Shares of VECO traded up $0.21 during mid-day trading on Wednesday, hitting $20.43. 540,530 shares of the company’s stock were exchanged, compared to its average volume of 455,566. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.22 and a quick ratio of 3.15. Veeco Instruments has a 52 week low of $7.42 and a 52 week high of $20.63. The company has a market cap of $1.01 billion, a PE ratio of -18.05 and a beta of 1.15. The company has a 50-day simple moving average of $17.97 and a 200 day simple moving average of $14.24.

Veeco Instruments (NASDAQ:VECO) last released its earnings results on Tuesday, October 27th. The semiconductor company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. Veeco Instruments had a negative net margin of 12.58% and a positive return on equity of 2.66%. The business had revenue of $112.08 million during the quarter, compared to the consensus estimate of $109.67 million. On average, analysts anticipate that Veeco Instruments will post 0.49 earnings per share for the current year.

A number of brokerages have recently commented on VECO. Stifel Nicolaus upped their price target on Veeco Instruments from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, October 28th. Barclays began coverage on shares of Veeco Instruments in a research report on Thursday, September 17th. They set an “overweight” rating and a $15.00 price target on the stock. Zacks Investment Research cut shares of Veeco Instruments from a “buy” rating to a “hold” rating in a research report on Saturday, December 26th. BidaskClub raised Veeco Instruments from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, The Goldman Sachs Group boosted their price objective on Veeco Instruments from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, December 29th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Veeco Instruments currently has a consensus rating of “Buy” and an average target price of $18.29.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise boosted its position in Veeco Instruments by 61.1% during the third quarter. Banque Cantonale Vaudoise now owns 9,343 shares of the semiconductor company’s stock valued at $109,000 after purchasing an additional 3,545 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Veeco Instruments by 212.3% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 12,211 shares of the semiconductor company’s stock worth $143,000 after purchasing an additional 8,301 shares in the last quarter. National Asset Management Inc. acquired a new stake in shares of Veeco Instruments in the 3rd quarter valued at approximately $153,000. Diversified Trust Co acquired a new stake in shares of Veeco Instruments in the 4th quarter valued at approximately $181,000. Finally, Aperio Group LLC grew its stake in shares of Veeco Instruments by 8.2% in the third quarter. Aperio Group LLC now owns 20,115 shares of the semiconductor company’s stock valued at $235,000 after buying an additional 1,520 shares in the last quarter. Institutional investors and hedge funds own 93.58% of the company’s stock.

Veeco Instruments Company Profile

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 ion beam deposition and etch systems, laser annealing systems, metal organic chemical vapor deposition systems, packaging lithography equipment; single wafer wet etch and clean systems; molecular beam epitaxy systems; and atomic layer deposition and other deposition systems.

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