Ultratech Inc. (UTEK) Reaches New 12-Month High at $24.06
Ultratech Inc. (NASDAQ:UTEK) hit a new 52-week high on Monday . The stock traded as high as $24.06 and last traded at $23.77, with a volume of 58,757 shares changing hands. The stock had previously closed at $23.30.
Several equities research analysts have weighed in on UTEK shares. Zacks Investment Research raised shares of Ultratech from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Tuesday, April 26th. DA Davidson cut shares of Ultratech from a “buy” rating to a “neutral” rating and set a $24.00 price target for the company. in a research report on Thursday, April 21st. They noted that the move was a valuation call. Benchmark Co. increased their price target 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. Finally, B. Riley reissued a “neutral” rating and set a $21.00 price target on shares of Ultratech in a research report on Wednesday, April 27th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $22.90.
The company’s market capitalization is $647.69 million. The company has a 50 day moving average of $22.79 and a 200-day moving average of $20.91.
Ultratech (NASDAQ:UTEK) last released its quarterly earnings data on Thursday, April 21st. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.14. The company had revenue of $45.20 million for the quarter, compared to the consensus estimate of $39.10 million. During the same quarter in the previous year, the business earned ($0.06) EPS. The company’s quarterly revenue was up 7.9% on a year-over-year basis. Equities analysts predict that Ultratech Inc. will post $0.69 earnings per share for the current year.
A number of large investors have made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in shares of 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 in the last quarter. Boston Partners boosted its stake in shares of 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 in the last quarter. State of Wisconsin Investment Board boosted its stake in shares of 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 in the last quarter. Artemis Investment Management LLP acquired a new stake in shares of Ultratech during the fourth quarter valued at $2,932,000. Finally, Russell Frank Co boosted its stake in shares of 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 in 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.
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