Stifel Nicolaus reaffirmed their hold rating on shares of Ultratech, Inc. (NASDAQ:UTEK) in a research report released on Sunday, April 23rd. They currently have a $28.00 price target on the semiconductor company’s stock.
A number of other analysts have also recently commented on UTEK. B. Riley reaffirmed a neutral rating and set a $28.50 target price on shares of Ultratech in a report on Thursday, February 2nd. Benchmark Co. cut shares of Ultratech from a buy rating to a hold rating and set a $28.64 price objective for the company. in a research note on Friday, February 3rd. Finally, Zacks Investment Research raised shares of Ultratech from a hold rating to a strong-buy rating and set a $32.00 price objective for the company in a research note on Thursday, February 9th.
Shares of Ultratech (NASDAQ:UTEK) traded up 0.23% during midday trading on Friday, hitting $30.18. The stock had a trading volume of 118,029 shares. Ultratech has a 52 week low of $20.56 and a 52 week high of $30.94. The stock’s 50-day moving average price is $30.02 and its 200 day moving average price is $26.97. The company has a market cap of $821.98 million, a price-to-earnings ratio of 54.28 and a beta of 0.34.
Ultratech (NASDAQ:UTEK) last announced its earnings results on Thursday, April 20th. The semiconductor company reported $0.35 EPS for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.08. Ultratech had a net margin of 5.79% and a return on equity of 4.31%. The business had revenue of $57.41 million during the quarter, compared to analysts’ expectations of $50.97 million. During the same period in the prior year, the company earned $0.10 earnings per share. On average, equities analysts forecast that Ultratech will post $1.32 earnings per share for the current year.
In other news, insider Dave Ghosh sold 8,208 shares of the stock in a transaction on Friday, May 5th. The shares were sold at an average price of $30.54, for a total value of $250,672.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.92% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Alambic Investment Management L.P. purchased a new stake in shares of Ultratech during the third quarter worth about $293,000. Capital Fund Management S.A. raised its position in shares of Ultratech by 59.2% in the third quarter. Capital Fund Management S.A. now owns 16,400 shares of the semiconductor company’s stock worth $379,000 after buying an additional 6,100 shares in the last quarter. WealthTrust Axiom LLC raised its position in shares of Ultratech by 1.4% in the third quarter. WealthTrust Axiom LLC now owns 149,590 shares of the semiconductor company’s stock worth $3,452,000 after buying an additional 2,000 shares in the last quarter. First Trust Advisors LP bought a new position in shares of Ultratech during the third quarter worth $500,000. Finally, Aperio Group LLC bought a new position in shares of Ultratech during the third quarter worth $203,000. 92.68% of the stock is owned by hedge funds and other institutional investors.
Ultratech, Inc (Ultratech) develops, manufactures and markets photolithography, laser thermal processing and inspection equipment. The Company operates through the manufacture and distribution of capital equipment to manufacturers of integrated circuits and nanotechnology components segment. The Company serves manufacturers of semiconductor devices, including packaging processes and various nanotechnology components such as laser diodes, high-brightness light emitting diodes (HBLEDs) and micro-electro-mechanical systems (MEMS), as well as atomic layer deposition systems (ALD) for customers located throughout the world.
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