Bayesian Capital Management LP Acquires New Stake in Veeco Instruments Inc. (NASDAQ:VECO)

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Bayesian Capital Management LP acquired a new position in Veeco Instruments Inc. (NASDAQ:VECO) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 19,100 shares of the semiconductor company’s stock, valued at approximately $325,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. OppenheimerFunds Inc. boosted its holdings in shares of Veeco Instruments by 98.8% in the first quarter. OppenheimerFunds Inc. now owns 4,015,028 shares of the semiconductor company’s stock worth $68,255,000 after buying an additional 1,995,804 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Veeco Instruments by 6.3% in the first quarter. Dimensional Fund Advisors LP now owns 3,147,480 shares of the semiconductor company’s stock worth $53,507,000 after buying an additional 185,322 shares during the last quarter. Frontier Capital Management Co. LLC boosted its holdings in shares of Veeco Instruments by 1.6% in the first quarter. Frontier Capital Management Co. LLC now owns 2,657,274 shares of the semiconductor company’s stock worth $45,174,000 after buying an additional 42,899 shares during the last quarter. Carillon Tower Advisers Inc. purchased a new position in shares of Veeco Instruments in the fourth quarter worth approximately $24,236,000. Finally, River & Mercantile Asset Management LLP boosted its holdings in shares of Veeco Instruments by 163.8% in the first quarter. River & Mercantile Asset Management LLP now owns 1,434,788 shares of the semiconductor company’s stock worth $24,356,000 after buying an additional 890,988 shares during the last quarter. 99.60% of the stock is currently owned by institutional investors.

Several brokerages have weighed in on VECO. ValuEngine downgraded shares of Veeco Instruments from a “sell” rating to a “strong sell” rating in a report on Friday, May 18th. Zacks Investment Research raised shares of Veeco Instruments from a “hold” rating to a “strong-buy” rating and set a $19.00 price target on the stock in a report on Saturday, May 12th. Northland Securities began coverage on shares of Veeco Instruments in a report on Thursday, April 19th. They set an “outperform” rating on the stock. Finally, TheStreet raised shares of Veeco Instruments from a “d+” rating to a “c” rating in a report on Monday, March 12th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $25.33.

Shares of Veeco Instruments traded down $0.60, hitting $14.60, during mid-day trading on Monday, Marketbeat reports. The company had a trading volume of 2,545 shares, compared to its average volume of 416,477. Veeco Instruments Inc. has a 52-week low of $10.85 and a 52-week high of $33.40. The company has a market capitalization of $740.12 million, a PE ratio of -737.50 and a beta of 0.58. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.17 and a current ratio of 2.80.

Veeco Instruments (NASDAQ:VECO) last announced its quarterly earnings results on Monday, May 7th. The semiconductor company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.14. Veeco Instruments had a negative net margin of 11.24% and a positive return on equity of 0.51%. The company had revenue of $158.57 million for the quarter, compared to analysts’ expectations of $151.62 million. During the same quarter in the previous year, the business posted $0.09 earnings per share. Veeco Instruments’s quarterly revenue was up 67.8% on a year-over-year basis. research analysts predict that Veeco Instruments Inc. will post 0.41 EPS for the current fiscal year.

About Veeco Instruments

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

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

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