Dumont & Blake Investment Advisors LLC Acquires 15,075 Shares of Veeco Instruments Inc. (NASDAQ:VECO)

Dumont & Blake Investment Advisors LLC lifted its holdings in shares of Veeco Instruments Inc. (NASDAQ:VECO) by 74.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,295 shares of the semiconductor company’s stock after buying an additional 15,075 shares during the period. Dumont & Blake Investment Advisors LLC’s holdings in Veeco Instruments were worth $1,169,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Riverwater Partners LLC raised its position in Veeco Instruments by 17.3% during the third quarter. Riverwater Partners LLC now owns 67,809 shares of the semiconductor company’s stock worth $2,202,000 after acquiring an additional 10,011 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Veeco Instruments by 3,213.1% during the third quarter. International Assets Investment Management LLC now owns 4,804 shares of the semiconductor company’s stock worth $145,000 after purchasing an additional 4,659 shares during the period. Signaturefd LLC increased its position in Veeco Instruments by 130.6% during the third quarter. Signaturefd LLC now owns 1,328 shares of the semiconductor company’s stock worth $44,000 after buying an additional 752 shares during the last quarter. Raymond James & Associates raised its stake in Veeco Instruments by 42.6% in the third quarter. Raymond James & Associates now owns 175,073 shares of the semiconductor company’s stock valued at $5,800,000 after buying an additional 52,328 shares during the period. Finally, Inspire Advisors LLC lifted its position in shares of Veeco Instruments by 23.7% in the third quarter. Inspire Advisors LLC now owns 71,783 shares of the semiconductor company’s stock valued at $2,378,000 after buying an additional 13,764 shares during the last quarter. Institutional investors own 98.46% of the company’s stock.

Veeco Instruments Price Performance

VECO stock traded up $0.27 during trading on Friday, reaching $29.43. 3,487 shares of the company were exchanged, compared to its average volume of 654,618. Veeco Instruments Inc. has a twelve month low of $23.63 and a twelve month high of $49.25. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.52 and a quick ratio of 2.32. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of -64.80 and a beta of 1.16. The company has a 50-day moving average of $32.73 and a two-hundred day moving average of $37.89.

Veeco Instruments (NASDAQ:VECO) last released its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.01). Veeco Instruments had a net margin of 11.83% and a return on equity of 12.03%. The firm had revenue of $175.88 million for the quarter, compared to analyst estimates of $176.03 million. During the same period last year, the business earned $0.21 EPS. The company’s revenue was up 8.8% compared to the same quarter last year. As a group, equities analysts predict that Veeco Instruments Inc. will post 1.2 earnings per share for the current fiscal year.

Insider Activity

In other Veeco Instruments news, CFO John P. Kiernan sold 2,500 shares of Veeco Instruments stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $32.63, for a total transaction of $81,575.00. Following the completion of the transaction, the chief financial officer now owns 82,642 shares in the company, valued at approximately $2,696,608.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Citigroup lowered Veeco Instruments from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $45.00 to $50.00 in a report on Monday, July 15th. Northland Securities dropped their price objective on shares of Veeco Instruments from $53.00 to $47.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Benchmark reaffirmed a “buy” rating and set a $42.00 target price on shares of Veeco Instruments in a report on Wednesday, August 7th. Needham & Company LLC restated a “buy” rating and set a $55.00 price objective on shares of Veeco Instruments in a research report on Wednesday, August 7th. Finally, StockNews.com lowered Veeco Instruments from a “hold” rating to a “sell” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $45.57.

About Veeco Instruments

Veeco Instruments Inc, together with its subsidiaries, develops, manufactures, sells, and supports semiconductor and thin film process equipment primarily to make electronic devices in the United States, Europe, the Middle East, and Africa, China, Rest of the Asia-Pacific, and internationally. The company offers laser annealing, ion beam deposition and etch, metal organic chemical vapor deposition, single wafer wet processing and surface preparation, molecular beam epitaxy, advanced packaging lithography, atomic layer deposition, and other deposition systems.