Value Holdings Lp buys $505,144 stake in Veeco Instruments (VECO)

Veeco Instruments (VECO) : Value Holdings Lp scooped up 2,000 additional shares in Veeco Instruments during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 1, 2016. The investment management firm now holds a total of 27,100 shares of Veeco Instruments which is valued at $505,144.Veeco Instruments makes up approximately 0.32% of Value Holdings Lp’s portfolio.

Other Hedge Funds, Including , Newsquare Capital sold out all of its stake in VECO during the most recent quarter. The investment firm sold 137 shares of VECO which is valued $2,351.Louisiana State Employees Retirement System reduced its stake in VECO by selling 100 shares or 0.56% in the most recent quarter. The Hedge Fund company now holds 17,600 shares of VECO which is valued at $302,016. Veeco Instruments makes up approx 0.02% of Louisiana State Employees Retirement System’s portfolio.Nordea Investment Management Ab boosted its stake in VECO in the latest quarter, The investment management firm added 2,309 additional shares and now holds a total of 44,710 shares of Veeco Instruments which is valued at $767,224.

Veeco Instruments opened for trading at $18.64 and hit $19.12 on the upside on Thursday, eventually ending the session at $18.79, with a gain of 0.80% or 0.15 points. The heightened volatility saw the trading volume jump to 8,50,259 shares. Company has a market cap of $764 M.

On the company’s financial health, Veeco Instruments reported $-0.19 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 1, 2016. Analyst had a consensus of $-0.21. The company had revenue of $75.30 million for the quarter, compared to analysts expectations of $77.05 million. The company’s revenue was down -42.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.20 EPS.

Many Wall Street Analysts have commented on Veeco Instruments. Shares were Reiterated by The Benchmark Company on Aug 2, 2016 to “Buy” and Lowered the Price Target to $ 21 from a previous price target of $23 .Company shares were Upgraded by Deutsche Bank on Aug 2, 2016 to ” Buy”, Firm has raised the Price Target to $ 22 from a previous price target of $16 .Pacific Crest Initiated Veeco Instruments on May 13, 2016 to “Overweight”, Price Target of the shares are set at $23.

Veeco Instruments Inc. (Veeco) designs manufactures and markets thin film equipment. The Company’s equipment is primarily sold to make electronic devices including light emitting diodes (LED) power electronics wireless devices hard disk drives and semiconductors. The Company sells its products and services worldwide primarily through various sales and service facilities in the United States Europe and Asia Pacific. The Company’s systems including its deposition and etch tools are used in the creation of a range of microelectronic components including light-emitting diode (LED) power semiconductors thin film magnetic heads (TFMHs) and compound semiconductor devices. The Company offers Metal Organic Chemical Vapor Deposition Systems Molecular Beam Epitaxy Systems Fast Array Scanning Atomic Layer Deposition Systems Precision Surface Processing Systems Ion Beam Deposition Systems Ion Beam Etch Systems and Other Data Storage Products.

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