Ultratech Inc. (UTEK) Reaches New 1-Year High at $24.74
Ultratech Inc. (NASDAQ:UTEK)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $24.74 and last traded at $24.49, with a volume of 23,429 shares trading hands. The stock had previously closed at $24.37.
Several equities analysts have commented on UTEK shares. Benchmark Co. increased their price target on Ultratech from $25.00 to $27.50 and gave the company a “buy” rating in a report on Friday, April 22nd. Zacks Investment Research downgraded Ultratech from a “buy” rating to a “hold” rating in a report on Thursday, June 23rd. B. Riley reiterated a “neutral” rating and set a $21.00 price target on shares of Ultratech in a report on Friday, April 22nd. Finally, DA Davidson downgraded Ultratech from a “buy” rating to a “neutral” rating and set a $24.00 price target on the stock. in a report on Thursday, April 21st. They noted that the move was a valuation call. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $22.90.
The firm’s market capitalization is $654.10 million. The firm’s 50 day moving average is $23.01 and its 200-day moving average is $20.99.
Ultratech (NASDAQ:UTEK) last released its earnings results on Thursday, April 21st. The company reported $0.10 EPS for the quarter, beating the Thomson Reuters’ 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. The company’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.06) EPS. Equities analysts anticipate that Ultratech Inc. will post $0.69 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in UTEK. State of Wisconsin Investment Board boosted 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. Dimensional Fund Advisors LP boosted 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. Russell Frank Co boosted 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. Finally, Boston Partners boosted 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.
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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