Mackenzie Financial Corp Sells 3,589 Shares of Veeco Instruments Inc. (NASDAQ:VECO)

Mackenzie Financial Corp trimmed its holdings in Veeco Instruments Inc. (NASDAQ:VECO) by 12.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,533 shares of the semiconductor company’s stock after selling 3,589 shares during the quarter. Mackenzie Financial Corp’s holdings in Veeco Instruments were worth $761,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Oregon Public Employees Retirement Fund raised its holdings in shares of Veeco Instruments by 3.7% in the third quarter. Oregon Public Employees Retirement Fund now owns 16,723 shares of the semiconductor company’s stock valued at $470,000 after buying an additional 600 shares during the last quarter. Maryland State Retirement & Pension System raised its holdings in shares of Veeco Instruments by 3.0% in the third quarter. Maryland State Retirement & Pension System now owns 20,754 shares of the semiconductor company’s stock valued at $583,000 after buying an additional 614 shares during the last quarter. Amalgamated Bank raised its holdings in shares of Veeco Instruments by 3.6% in the third quarter. Amalgamated Bank now owns 21,426 shares of the semiconductor company’s stock valued at $602,000 after buying an additional 747 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Veeco Instruments by 28.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,543 shares of the semiconductor company’s stock valued at $100,000 after buying an additional 782 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Veeco Instruments by 4.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,216 shares of the semiconductor company’s stock valued at $720,000 after buying an additional 918 shares during the last quarter. 98.46% of the stock is owned by institutional investors.

Veeco Instruments Trading Up 1.5 %

Shares of Veeco Instruments stock opened at $34.40 on Friday. The stock’s fifty day simple moving average is $35.09 and its 200 day simple moving average is $31.29. The company has a quick ratio of 2.15, a current ratio of 3.24 and a debt-to-equity ratio of 0.41. Veeco Instruments Inc. has a 12 month low of $17.70 and a 12 month high of $37.75.

Veeco Instruments (NASDAQ:VECO) last released its quarterly earnings results on Wednesday, February 14th. The semiconductor company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.09. Veeco Instruments had a positive return on equity of 11.10% and a negative net margin of 4.56%. The company had revenue of $173.92 million for the quarter, compared to analyst estimates of $170.00 million. As a group, equities research analysts expect that Veeco Instruments Inc. will post 1.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Veeco Instruments

In other news, SVP Adrian Devasahayam sold 5,000 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $34.10, for a total transaction of $170,500.00. Following the completion of the sale, the senior vice president now owns 67,278 shares of the company’s stock, valued at $2,294,179.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Adrian Devasahayam sold 5,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $34.10, for a total transaction of $170,500.00. Following the completion of the transaction, the senior vice president now directly owns 67,278 shares of the company’s stock, valued at $2,294,179.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William John Miller sold 24,201 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $35.30, for a total value of $854,295.30. Following the transaction, the chief executive officer now owns 545,091 shares of the company’s stock, valued at $19,241,712.30. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

Analyst Ratings Changes

VECO has been the subject of a number of research reports. Citigroup lifted their price objective on Veeco Instruments from $36.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Benchmark lifted their price objective on Veeco Instruments from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. The Goldman Sachs Group lifted their price objective on Veeco Instruments from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Finally, Barclays lifted their price objective on Veeco Instruments from $28.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 16th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Veeco Instruments presently has an average rating of “Moderate Buy” and a consensus target price of $36.57.

Veeco Instruments Company Profile

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.