Ultratech Inc. (NASDAQ:UTEK)’s share price dropped 1.7% on Friday . The stock traded as low as $24.44 and last traded at $24.51, with a volume of 81,747 shares traded. The stock had previously closed at $24.93.

UTEK has been the topic of several recent analyst reports. Zacks Investment Research downgraded Ultratech from a “buy” rating to a “hold” rating in a research report on Thursday, June 23rd. B. Riley reiterated a “neutral” rating and set a $25.00 target price on shares of Ultratech in a research report on Monday, July 25th. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Ultratech currently has an average rating of “Hold” and a consensus price target of $24.50.

The stock’s market capitalization is $668.72 million. The company has a 50 day moving average of $24.88 and a 200 day moving average of $22.42.

Ultratech (NASDAQ:UTEK) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.01. The firm had revenue of $48.90 million for the quarter, compared to analyst estimates of $48.56 million. Equities research analysts anticipate that Ultratech Inc. will post $0.91 EPS for the current fiscal year.

In related news, Chairman Arthur W. Zafiropoulo sold 18,789 shares of Ultratech stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $24.02, for a total value of $451,311.78. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Tammy Denice Landon sold 10,186 shares of Ultratech stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $25.08, for a total value of $255,464.88. 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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