Metropolitan Life Insurance Co. NY Continues to Hold Position in Veeco Instruments Inc. (VECO)

Metropolitan Life Insurance Co. NY continued to hold its stake in shares of Veeco Instruments Inc. (NASDAQ:VECO) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,982 shares of the semiconductor company’s stock at the end of the first quarter. Metropolitan Life Insurance Co. NY owned approximately 0.07% of Veeco Instruments worth $865,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in VECO. State Street Corp increased its stake in shares of Veeco Instruments by 7.1% in the first quarter. State Street Corp now owns 933,098 shares of the semiconductor company’s stock worth $27,860,000 after buying an additional 61,555 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Veeco Instruments by 16.5% in the first quarter. Bank of America Corp DE now owns 305,327 shares of the semiconductor company’s stock worth $9,115,000 after buying an additional 43,313 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Veeco Instruments by 8.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 280,957 shares of the semiconductor company’s stock worth $8,387,000 after buying an additional 21,880 shares in the last quarter. KCG Holdings Inc. bought a new stake in shares of Veeco Instruments during the first quarter worth about $332,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Veeco Instruments by 11.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,478,396 shares of the semiconductor company’s stock worth $73,980,000 after buying an additional 259,648 shares in the last quarter. Institutional investors own 88.62% of the company’s stock.

Veeco Instruments Inc. (NASDAQ VECO) opened at 18.60 on Friday. Veeco Instruments Inc. has a one year low of $18.35 and a one year high of $34.38. The company’s 50-day moving average is $27.30 and its 200 day moving average is $29.02. The company’s market capitalization is $900.61 million.

Veeco Instruments (NASDAQ:VECO) last released its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported ($0.07) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.03. Veeco Instruments had a negative net margin of 23.65% and a negative return on equity of 1.33%. The firm had revenue of $115.07 million during the quarter, compared to analysts’ expectations of $110.87 million. During the same period last year, the business earned ($0.19) earnings per share. Veeco Instruments’s revenue was up 52.7% compared to the same quarter last year. On average, equities analysts anticipate that Veeco Instruments Inc. will post $0.50 earnings per share for the current year.

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A number of analysts have issued reports on the stock. KeyCorp reduced their price target on shares of Veeco Instruments from $34.00 to $31.00 and set an “overweight” rating on the stock in a report on Friday. BidaskClub downgraded shares of Veeco Instruments from a “sell” rating to a “strong sell” rating in a report on Thursday. Stifel Nicolaus reiterated a “buy” rating and issued a $36.00 price target (down from $38.00) on shares of Veeco Instruments in a report on Wednesday, August 9th. Deutsche Bank AG downgraded shares of Veeco Instruments from a “buy” rating to a “hold” rating and reduced their price target for the company from $35.00 to $30.00 in a report on Friday, August 4th. Finally, Zacks Investment Research downgraded shares of Veeco Instruments from a “hold” rating to a “sell” rating in a report on Saturday, July 22nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. Veeco Instruments presently has an average rating of “Hold” and an average target price of $33.50.

In other news, Director Peter J. Simone sold 4,257 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $31.91, for a total value of $135,840.87. Following the completion of the transaction, the director now owns 24,332 shares of the company’s stock, valued at $776,434.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 2.90% of the company’s stock.

About Veeco Instruments

Veeco Instruments Inc is engaged in the design, development, manufacture and support of thin film process equipment, primarily sold to make electronic devices. The Company’s geographical segments include the United States; China; Europe, Middle East and Africa (EMEA), and Rest of World (ROW). The Company’s portfolio of technology solutions focus on market areas, including Lighting, Display & Power Electronics; Advanced Packaging, micro-electromechanical systems (MEMS) & radio frequency (RF); Scientific & Industrial, and Data Storage.

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

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