Veeco Instruments Inc. (VECO) Stake Lowered by TIAA CREF Investment Management LLC

TIAA CREF Investment Management LLC trimmed its position in shares of Veeco Instruments Inc. (NASDAQ:VECO) by 7.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 99,868 shares of the semiconductor company’s stock after selling 7,623 shares during the period. TIAA CREF Investment Management LLC’s holdings in Veeco Instruments were worth $1,024,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of VECO. Teachers Advisors LLC boosted its holdings in Veeco Instruments by 8.0% in the third quarter. Teachers Advisors LLC now owns 97,205 shares of the semiconductor company’s stock worth $996,000 after purchasing an additional 7,182 shares during the last quarter. Neuberger Berman Group LLC raised its position in shares of Veeco Instruments by 36.2% in the third quarter. Neuberger Berman Group LLC now owns 1,704,528 shares of the semiconductor company’s stock valued at $17,472,000 after buying an additional 452,608 shares during the last quarter. MetLife Investment Advisors LLC raised its position in shares of Veeco Instruments by 56.0% in the third quarter. MetLife Investment Advisors LLC now owns 34,709 shares of the semiconductor company’s stock valued at $356,000 after buying an additional 12,459 shares during the last quarter. Capital World Investors raised its position in shares of Veeco Instruments by 148.3% in the third quarter. Capital World Investors now owns 1,490,000 shares of the semiconductor company’s stock valued at $15,273,000 after buying an additional 890,000 shares during the last quarter. Finally, River & Mercantile Asset Management LLP raised its position in shares of Veeco Instruments by 40.0% in the third quarter. River & Mercantile Asset Management LLP now owns 2,847,962 shares of the semiconductor company’s stock valued at $29,263,000 after buying an additional 813,202 shares during the last quarter. 90.92% of the stock is owned by hedge funds and other institutional investors.

Veeco Instruments stock traded down $0.13 during midday trading on Monday, hitting $10.75. 1,432 shares of the stock were exchanged, compared to its average volume of 317,542. Veeco Instruments Inc. has a fifty-two week low of $6.27 and a fifty-two week high of $20.55. The stock has a market cap of $512.31 million, a P/E ratio of -536.00 and a beta of 1.22. The company has a current ratio of 3.15, a quick ratio of 2.28 and a debt-to-equity ratio of 0.49.

VECO has been the subject of several recent analyst reports. BidaskClub upgraded shares of Veeco Instruments from a “hold” rating to a “buy” rating in a research report on Tuesday, February 5th. ValuEngine upgraded shares of Veeco Instruments from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Finally, Zacks Investment Research upgraded shares of Veeco Instruments from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Wednesday, October 24th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $23.38.

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Veeco Instruments Profile

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.

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

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