Wasatch Advisors LP Cuts Veeco Instruments Stake to 4.7%
Ticker: VECO · Form: SC 13G/A · Filed: Feb 9, 2024 · CIK: 103145
| Field | Detail |
|---|---|
| Company | Veeco Instruments Inc (VECO) |
| Form Type | SC 13G/A |
| Filed Date | Feb 9, 2024 |
| Risk Level | medium |
| Sentiment | bearish |
Complexity: simple
Sentiment: bearish
Topics: institutional-ownership, stake-reduction, SC-13G/A, investment-adviser
TL;DR
**Wasatch Advisors LP just trimmed its VEECO stake to 4.7%, signaling a less aggressive position.**
AI Summary
Wasatch Advisors LP, an investment adviser, filed an amended SC 13G/A on February 9, 2024, for Veeco Instruments Inc. (VEECO). The filing indicates that Wasatch Advisors LP now beneficially owns 2,645,701 shares of Veeco's Common Stock, representing 4.7% of the class. This is a decrease from their previous holdings, as they now own less than 5% of the company, which matters to investors because it signals a reduced stake by a significant institutional holder, potentially indicating a shift in their investment strategy or outlook on Veeco's future performance.
Why It Matters
A notable institutional investor, Wasatch Advisors LP, has reduced its ownership in Veeco Instruments Inc. to below the 5% threshold, which could be interpreted by the market as a less bullish stance on the company's prospects.
Risk Assessment
Risk Level: medium — A reduction in a significant institutional holding can sometimes precede a period of underperformance or reflect a change in the investor's confidence.
Analyst Insight
Investors should monitor Veeco Instruments Inc.'s stock performance and look for any further institutional selling or new analyst ratings, as a reduction by a notable investor like Wasatch Advisors LP could signal a less favorable outlook.
Key Numbers
- 2,645,701 — Shares Owned (Represents the total number of Veeco Instruments Inc. common shares Wasatch Advisors LP now beneficially owns.)
- 4.7% — Percent of Class Owned (Indicates Wasatch Advisors LP's current ownership percentage of Veeco Instruments Inc. common stock, which is now below 5%.)
Key Players & Entities
- Wasatch Advisors LP (company) — the reporting person and investment adviser
- Veeco Instruments Inc. (company) — the issuer of the securities
- 2,645,701 (dollar_amount) — number of shares beneficially owned by Wasatch Advisors LP
- 4.7% (dollar_amount) — percentage of class owned by Wasatch Advisors LP
- February 9, 2024 (date) — date the SC 13G/A amendment was filed
Forward-Looking Statements
- Other institutional investors may re-evaluate their positions in Veeco Instruments Inc. following Wasatch Advisors LP's reduced stake. (Veeco Instruments Inc.) — medium confidence, target: Q2 2024
FAQ
Who is the reporting person in this SC 13G/A filing?
The reporting person is Wasatch Advisors LP, an investment adviser registered under section 203 of the Investment Advisers Act of 1940, as stated in Item 1 and Item 3(e) of the filing.
What is the name of the issuer whose securities are being reported?
The name of the issuer is Veeco Instruments Inc., as specified in Item 1(a) of the filing.
How many shares of Veeco Instruments Inc. Common Stock does Wasatch Advisors LP beneficially own?
Wasatch Advisors LP beneficially owns 2,645,701 shares of Veeco Instruments Inc. Common Stock, as detailed in Item 9 and Item 4(a) of the filing.
What percentage of Veeco Instruments Inc.'s class of securities does Wasatch Advisors LP own?
Wasatch Advisors LP owns 4.7% of the class of Veeco Instruments Inc. Common Stock, as indicated in Item 11 and Item 4(b) of the filing.
What type of power does Wasatch Advisors LP have over the shares it owns?
Wasatch Advisors LP has sole voting power over 2,645,701 shares and sole dispositive power over 2,645,701 shares, with zero shared voting or dispositive power, as reported in Items 5-8 and Item 4(c) of the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on February 9, 2024 regarding VEECO INSTRUMENTS INC (VECO).