Ultratech Inc. (UTEK) Trading Down 1.7%
Ultratech Inc. (NASDAQ:UTEK) shares fell 1.7% on Friday . The company traded as low as $24.44 and last traded at $24.51, with a volume of 81,747 shares trading hands. The stock had previously closed at $24.93.
A number of research firms have recently weighed in on UTEK. B. Riley reissued a “neutral” rating and issued a $25.00 price target on shares of Ultratech in a research note on Monday, July 25th. Zacks Investment Research raised Ultratech from a “hold” rating to a “strong-buy” rating and set a $29.00 price target on the stock in a research note on Thursday, July 28th. Five research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $24.50.
The stock’s 50-day moving average is $24.86 and its 200-day moving average is $22.39. The stock’s market cap is $668.72 million.
Ultratech (NASDAQ:UTEK) last posted its earnings results on Thursday, July 21st. The company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.01. The firm earned $48.90 million during the quarter, compared to analysts’ expectations of $48.56 million. Equities research analysts expect that Ultratech Inc. will post $0.91 EPS for the current year.
In other news, major shareholder Carlson Capital L. P sold 79,312 shares of the firm’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $25.33, for a total transaction of $2,008,972.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Arthur W. Zafiropoulo sold 18,789 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $24.02, for a total transaction of $451,311.78. The disclosure for this sale can be found here.
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 advanced packaging processes and various nanotechnology components, such as thin film head magnetic recording devices (thin film heads or TFHs), laser diodes, high-brightness light emitting diodes (HBLEDs), as well as atomic layer deposition systems (ALD).
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