Great West Life Assurance Co. Can Trims Stock Holdings in Veeco Instruments Inc. (NASDAQ:VECO)


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Great West Life Assurance Co. Can lowered its position in Veeco Instruments Inc. (NASDAQ:VECO) by 9.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,258 shares of the semiconductor company’s stock after selling 5,573 shares during the quarter. Great West Life Assurance Co. Can owned approximately 0.11% of Veeco Instruments worth $634,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Banque Cantonale Vaudoise lifted its stake in Veeco Instruments by 61.1% in the third quarter. Banque Cantonale Vaudoise now owns 9,343 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 3,545 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Veeco Instruments by 212.3% in the third quarter. BNP Paribas Arbitrage SA now owns 12,211 shares of the semiconductor company’s stock valued at $143,000 after purchasing an additional 8,301 shares during the period. National Asset Management Inc. acquired a new position in shares of Veeco Instruments in the third quarter valued at approximately $153,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Veeco Instruments in the second quarter valued at approximately $247,000. Finally, Aperio Group LLC increased its holdings 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 purchasing an additional 1,520 shares during the period. Institutional investors own 93.58% of the company’s stock.

VECO opened at $20.43 on Thursday. The business’s fifty day moving average is $18.05 and its two-hundred day moving average is $14.28. The company has a debt-to-equity ratio of 0.80, a quick ratio of 3.15 and a current ratio of 4.22. The company has a market cap of $1.01 billion, a price-to-earnings ratio of -18.24 and a beta of 1.15. Veeco Instruments Inc. has a one year low of $7.42 and a one year high of $20.63.

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

A number of research analysts recently weighed in on the company. BidaskClub raised Veeco Instruments from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 9th. The Goldman Sachs Group upped their price objective on Veeco Instruments from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, December 29th. Stifel Nicolaus upped their price objective on Veeco Instruments from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, October 28th. TheStreet raised Veeco Instruments from a “d+” rating to a “c” rating in a report on Tuesday, October 27th. Finally, Barclays assumed coverage on Veeco Instruments in a report on Thursday, September 17th. They set an “overweight” rating and a $15.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $18.29.

Veeco Instruments 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.

Further Reading: Gap Up Stocks

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

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