FPA Capital Increases in Veeco by 24% - Q4 Update

By
A A A

Guru Robert Rodriguez 's mutual fund, FPA Capital, has recently submitted its portfolio updates for 2012's fourth quarter consisting of one stake increase and five stake reductions.

The five stake reductions were in the following companies: Trinity Industries ( TRN ), Signet Jewelers ( SIG ), Federated Investors ( FII ) Ensco ( ESV ) and Atwood Oceanics ( ATW ).

As the only stock Rodriguez added to in the fourth quarter, process equipment solutions company Veeco Inc. has been in the fund's portfolio since the third quarter of 2011, starting off with 225,000 shares. Today, FPA Capital sits with 420,500 shares.

Veeco is engaged in providing process equipment solutions to enable the manufacturing of LEDs, power electronics, hard drives and wireless chips. Its stock is currently up 1.91 percent this afternoon, trading at $30.92. GuruFocus ranks the company 9 in Financial Strength and 7 in Profitability and Growth.

In its latest fiscal results for its third quarter, Veeco revealed that it generated $46 million in cash flow from operations, and that its revenue of $127 million for the quarter was in line with its expectations.

For the entire 2012 year, Veeco forecasts that its revenue will be over $500 million, delivering double-digit profitability growth.

According to its 10-Year Financials , Veeco has had a 10-year revenue growth rate of 5.5 percent. Its free cash flow growth in five years is 29.8 percent.

Veeco's market value delivered 31.29 percent in the last year, but declined 6.88 percent in the last three years.

VECO data by GuruFocus.com

Currently, Rodriguez maintains 25 stocks in his portfolio, valued over $830 million.

His top holdings Rowan Companies ( RDC ), Ensco PLC ( ESV ), Western Digital Corp. ( WDC ), Rosetta Resources ( ROSE ) and Arrow Electronics ( ARW ).

To see more of his buys and sells, see his portfolio here. Also check out the Undervalued Stocks, Top Growth Companies and High Yield stocks of Robert Rodriguez.

Become a GuruFocus Premium Member!

GuruFocus' long list of Premium Membership perks provides many opportunities to follow your favorite Gurus and stocks more closely. If you are not a Premium Member yet, we invite you for a 7-Day Free Trial.About GuruFocus: GuruFocus.com tracks the stocks picks and portfolio holdings of the world's best investors. This value investing site offers stock screeners and valuation tools. And publishes daily articles tracking the latest moves of the world's best investors. GuruFocus also provides promising stock ideas in 3 monthly newsletters sent to Premium Members .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing

Referenced Stocks: ESV , FII , SIG , TRN , VECO

GuruFocus

GuruFocus

More from GuruFocus:

Related Videos

Stocks

Referenced

Most Active by Volume

48,099,947
  • $16.09 ▲ 0.50%
40,277,806
  • $102.50 ▲ 0.24%
40,236,499
  • $19.57 ▲ 2.35%
31,092,510
  • $49.75 ▲ 0.65%
30,795,218
  • $34.92 ▲ 0.78%
29,910,855
  • $3.63 ▲ 0.83%
24,019,154
  • $13.06 ▼ 0.38%
23,753,906
  • $74.82 ▲ 1.31%
As of 8/29/2014, 04:04 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com