market folly

Robert Karr's hedge fund firm Joho Capital has filed a 13G with the SEC regarding its position in Veeco Instruments (VECO).  Per the filing, they now own 6.5% of the company with 2,535,933 shares.

This marks a 170% increase in their position size and the filing was required due to activity on November 11th.

Per Google Finance, Veeco Instruments "designs, manufactures and markets equipment to make light emitting diodes (LEDs), hard-disk drives, as well as for emerging applications such as concentrator photovoltaics, power semiconductors, wireless components, microelectromechanical systems (MEMS), and other next-generation devices. The Company operates in two segments: Light Emitting Diode (LED) and Solar and Data Storage. In the LED & Solar segment, it designs and manufactures metal organic chemical vapor deposition (MOCVD) systems, molecular beam epitaxy (MBE) systems and components sold to manufacturers of LEDs, wireless devices, power semiconductors, and concentrator photovoltaics, as well as to research and development (R&D) applications. In the Data Storage segment, it designs and manufactures the critical technologies used to create thin film magnetic heads (TFMHs) that read and write data on hard disk drives. In October 2013, the Company acquired Synos Technology, Inc."