Ultratech Inc. (NASDAQ:UTEK) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $24.06 and last traded at $23.77, with a volume of 58,757 shares traded. The stock had previously closed at $23.30.

Several analysts recently commented on the stock. Benchmark Co. increased their price objective on shares of Ultratech from $25.00 to $27.50 and gave the company a “buy” rating in a research report on Friday, April 22nd. Zacks Investment Research downgraded shares of Ultratech from a “buy” rating to a “hold” rating in a research report on Thursday, June 23rd. B. Riley reissued a “neutral” rating and set a $21.00 price objective on shares of Ultratech in a research report on Friday, April 22nd. Finally, DA Davidson downgraded shares of Ultratech from a “buy” rating to a “neutral” rating and set a $24.00 price objective on the stock. in a research report on Thursday, April 21st. They noted that the move was a valuation call. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $22.90.

The stock’s 50 day moving average price is $22.60 and its 200 day moving average price is $20.84. The company’s market cap is $635.67 million.

Ultratech (NASDAQ:UTEK) last released its quarterly earnings data on Thursday, April 21st. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.14. The firm earned $45.20 million during the quarter, compared to the consensus estimate of $39.10 million. During the same quarter in the previous year, the firm earned ($0.06) earnings per share. The business’s revenue was up 7.9% compared to the same quarter last year. On average, analysts forecast that Ultratech Inc. will post $0.69 earnings per share for the current year.

Other hedge funds have recently added to or reduced their stakes in the company. Artemis Investment Management LLP purchased a new stake in Ultratech during the fourth quarter valued at $2,932,000. Russell Frank Co increased its stake in Ultratech by 21.5% in the fourth quarter. Russell Frank Co now owns 155,536 shares of the company’s stock valued at $3,107,000 after buying an additional 27,556 shares during the last quarter. State of Wisconsin Investment Board increased its stake in Ultratech by 0.8% in the fourth quarter. State of Wisconsin Investment Board now owns 381,679 shares of the company’s stock valued at $7,565,000 after buying an additional 3,130 shares during the last quarter. Boston Partners increased its stake in Ultratech by 12.6% in the fourth quarter. Boston Partners now owns 655,920 shares of the company’s stock valued at $13,000,000 after buying an additional 73,540 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Ultratech by 6.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,271,145 shares of the company’s stock valued at $25,194,000 after buying an additional 71,931 shares during the last quarter.

Ultratech, Inc (Ultratech) develops, manufactures and markets photolithography, laser thermal processing and inspection equipment. The Company supplies step-and-repeat photolithography systems based on one-to-one (1X) imaging technology. It offers two different series of 1X lithography systems for use in the semiconductor fabrication process: the 1000 series, which addresses the markets for high brightness light emitting diodes (HBLEDs), semiconductor fabrication and nanotechnology applications, and the AP series, which serves the advanced packaging market.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.