Ultratech Inc. (UTEK) Sees Large Volume Increase
Ultratech Inc. (NASDAQ:UTEK) saw strong trading volume on Monday . 293,500 shares traded hands during mid-day trading, an increase of 102% from the previous session’s volume of 145,289 shares.The stock last traded at $24.99 and had previously closed at $24.93.
A number of analysts have recently issued reports on the stock. B. Riley reissued a “neutral” rating and issued a $25.00 price objective on shares of Ultratech in a research note on Monday, July 25th. Zacks Investment Research raised shares of Ultratech from a “hold” rating to a “strong-buy” rating and set a $29.00 price objective for the company in a research note on Thursday, July 28th. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $24.50.
The company’s market capitalization is $668.72 million. The firm’s 50-day moving average is $24.88 and its 200-day moving average is $22.42.
Ultratech (NASDAQ:UTEK) last released its earnings results on Thursday, July 21st. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. The company earned $48.90 million during the quarter, compared to analyst estimates of $48.56 million. Equities analysts predict that Ultratech Inc. will post $0.91 EPS for the current fiscal year.
In other Ultratech news, major shareholder Carlson Capital L. P sold 79,312 shares of Ultratech stock in a transaction that occurred 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Arthur W. Zafiropoulo sold 18,789 shares of Ultratech stock in a transaction that occurred 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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