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From FPA Capital’s third quarter commentary.
FPA Capital Comments on Veeco
We reduced Veeco Instruments (VECO) in the mid-to-high $30s because it approached fair valuation and our channel checks suggested that the metal organic chemical vapor deposition market, used to produce high-brightness LEDs, will remain under pressure for a while longer. We trimmed the position before the stock slid over 20% from its 52-week high.
From FPA Capital’s third quarter commentary.
From FPA Capital’s third quarter commentary.
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