Ultratech Inc. (NASDAQ:UTEK) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $24.74 and last traded at $24.49, with a volume of 23,429 shares changing hands. The stock had previously closed at $24.37.

UTEK has been the subject of a number of analyst reports. Zacks Investment Research raised Ultratech from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a report on Tuesday, April 26th. Benchmark Co. upped their target price on Ultratech from $25.00 to $27.50 and gave the stock a “buy” rating in a research note on Friday, April 22nd. B. Riley reaffirmed a “neutral” rating and set a $21.00 target price on shares of Ultratech in a research note on Wednesday, April 27th. Finally, DA Davidson downgraded Ultratech from a “buy” rating to a “neutral” rating and set a $24.00 target price for the company. in a research note 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 stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $22.90.

The company has a 50 day moving average of $23.10 and a 200 day moving average of $21.06. The stock’s market capitalization is $648.49 million.

A number of hedge funds and institutional investors have recently added to or reduced their stakes in the company. Russell Frank Co increased its position in Ultratech by 21.5% in the fourth quarter. Russell Frank Co now owns 155,536 shares of the company’s stock worth $3,107,000 after buying an additional 27,556 shares in the last quarter. State of Wisconsin Investment Board increased its position in Ultratech by 0.8% in the fourth quarter. State of Wisconsin Investment Board now owns 381,679 shares of the company’s stock worth $7,565,000 after buying an additional 3,130 shares in the last quarter. Boston Partners increased its position in Ultratech by 12.6% in the fourth quarter. Boston Partners now owns 655,920 shares of the company’s stock worth $13,000,000 after buying an additional 73,540 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Ultratech by 6.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,271,145 shares of the company’s stock worth $25,194,000 after buying an additional 71,931 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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