Key Points
- William John Miller, Veeco's CEO, sold 50,000 shares on March 3 at an average price of $31.62 for proceeds of $1,581,000, cutting his stake by 10.76% to 414,543 shares (≈$13.11M).
- He previously sold 25,000 shares on Dec. 5 at $32.00, meaning he has sold 75,000 shares recently for roughly $2.38M total, indicating a pattern of insider selling.
- Veeco shares traded down 2.5% to $31.05 with a $1.88B market cap; analyst coverage is mixed—average rating "Moderate Buy" and average target $28.17, though Citigroup upgraded its target to $40 and rates the stock a "buy".
Veeco Instruments Inc. (NASDAQ:VECO - Get Free Report) CEO William John Miller sold 50,000 shares of the business's stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $31.62, for a total value of $1,581,000.00. Following the transaction, the chief executive officer owned 414,543 shares in the company, valued at approximately $13,107,849.66. This represents a 10.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
William John Miller also recently made the following trade(s):
- On Friday, December 5th, William John Miller sold 25,000 shares of Veeco Instruments stock. The shares were sold at an average price of $32.00, for a total value of $800,000.00.
Veeco Instruments Stock Down 2.5%
NASDAQ VECO traded down $0.79 on Friday, reaching $31.05. The company had a trading volume of 202,996 shares, compared to its average volume of 893,198. The firm has a market capitalization of $1.88 billion, a PE ratio of 52.63 and a beta of 1.17. The firm has a 50-day moving average of $31.45 and a 200-day moving average of $29.50. Veeco Instruments Inc. has a 1 year low of $16.92 and a 1 year high of $35.77. The company has a debt-to-equity ratio of 0.26, a current ratio of 4.75 and a quick ratio of 3.20.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of Veeco Instruments in a research note on Wednesday, January 21st. Needham & Company LLC restated a "hold" rating on shares of Veeco Instruments in a research note on Thursday, February 26th. Zacks Research upgraded Veeco Instruments from a "hold" rating to a "strong-buy" rating in a research note on Monday. Finally, Citigroup upped their price objective on Veeco Instruments from $36.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $28.17.
Read Our Latest Analysis on VECO
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in VECO. Vanguard Group Inc. boosted its position in Veeco Instruments by 0.8% during the third quarter. Vanguard Group Inc. now owns 7,663,310 shares of the semiconductor company's stock worth $233,195,000 after purchasing an additional 62,016 shares during the period. Wasatch Advisors LP boosted its holdings in shares of Veeco Instruments by 4.9% during the 2nd quarter. Wasatch Advisors LP now owns 3,396,804 shares of the semiconductor company's stock worth $69,023,000 after buying an additional 157,978 shares during the period. The Manufacturers Life Insurance Company grew its stake in Veeco Instruments by 9.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,215,031 shares of the semiconductor company's stock valued at $65,329,000 after buying an additional 284,716 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Veeco Instruments by 1.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,481,803 shares of the semiconductor company's stock worth $75,521,000 after acquiring an additional 26,248 shares during the period. Finally, Paradigm Capital Management Inc. NY lifted its position in Veeco Instruments by 1.3% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 2,410,000 shares of the semiconductor company's stock worth $48,971,000 after acquiring an additional 30,000 shares during the last quarter. Institutional investors and hedge funds own 98.46% of the company's stock.
About Veeco Instruments
(
Get Free Report)
Veeco Instruments Inc (NASDAQ: VECO) is a leading supplier of process equipment for the semiconductor, data storage, wireless communications, power electronics and advanced packaging industries. The company designs, manufactures and services precision tools used to grow, deposit and etch thin films on substrates, enabling the fabrication of chips, light-emitting diodes (LEDs), micro-electromechanical systems (MEMS) and high-density storage devices. Veeco's platforms are deployed across fabrication facilities worldwide, where they support key processes in materials science and device manufacturing.
Veeco's product portfolio spans molecular beam epitaxy (MBE), metal organic chemical vapor deposition (MOCVD), atomic layer deposition (ALD), ion beam etch and deposition, and high-precision wet and dry etch systems.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
