State of New Jersey Common Pension Fund D bought a new position in shares of Veeco Instruments Inc. (NASDAQ:VECO) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 194,000 shares of the semiconductor company’s stock, valued at approximately $2,266,000. State of New Jersey Common Pension Fund D owned about 0.40% of Veeco Instruments as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of VECO. Invesco Ltd. grew its holdings in Veeco Instruments by 720.1% during the 2nd quarter. Invesco Ltd. now owns 4,759,206 shares of the semiconductor company’s stock worth $58,157,000 after acquiring an additional 4,178,877 shares during the period. Nuveen Asset Management LLC acquired a new stake in Veeco Instruments during the 2nd quarter worth about $2,243,000. Renaissance Technologies LLC grew its holdings in Veeco Instruments by 25.5% during the 2nd quarter. Renaissance Technologies LLC now owns 887,213 shares of the semiconductor company’s stock worth $10,842,000 after acquiring an additional 180,100 shares during the period. Morgan Stanley grew its holdings in Veeco Instruments by 68.1% during the 2nd quarter. Morgan Stanley now owns 328,825 shares of the semiconductor company’s stock worth $4,018,000 after acquiring an additional 133,241 shares during the period. Finally, Panagora Asset Management Inc. grew its holdings in Veeco Instruments by 12,976.3% during the 2nd quarter. Panagora Asset Management Inc. now owns 94,934 shares of the semiconductor company’s stock worth $1,160,000 after acquiring an additional 94,208 shares during the period. Hedge funds and other institutional investors own 88.05% of the company’s stock.
Shares of VECO opened at $15.56 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.42 and a quick ratio of 2.36. The stock has a 50-day moving average of $12.57 and a 200-day moving average of $11.85. The company has a market cap of $824.02 million, a PE ratio of -389.00 and a beta of 1.38. Veeco Instruments Inc. has a one year low of $6.27 and a one year high of $17.23.
VECO has been the subject of a number of recent analyst reports. Northland Securities set a $19.00 price target on Veeco Instruments and gave the stock a “buy” rating in a report on Monday, September 30th. Zacks Investment Research upgraded Veeco Instruments from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a report on Friday. ValuEngine upgraded Veeco Instruments from a “strong sell” rating to a “sell” rating in a report on Tuesday. BidaskClub upgraded Veeco Instruments from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. Finally, Benchmark reiterated a “buy” rating and set a $18.00 price target (up from $15.00) on shares of Veeco Instruments in a report on Tuesday. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $16.75.
In other news, Director Peter J. Simone sold 4,549 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $16.46, for a total value of $74,876.54. Following the completion of the sale, the director now directly owns 36,757 shares in the company, valued at approximately $605,020.22. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 3.00% of the company’s stock.
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 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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