State of Tennessee Treasury Department Has $651,000 Position in Ultratech, Inc. (UTEK)
State of Tennessee Treasury Department raised its stake in shares of Ultratech, Inc. (NASDAQ:UTEK) by 17.8% during the first quarter, Holdings Channel reports. The fund owned 21,966 shares of the semiconductor company’s stock after buying an additional 3,315 shares during the period. State of Tennessee Treasury Department’s holdings in Ultratech were worth $651,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Fortaleza Asset Management Inc. purchased a new position in Ultratech during the fourth quarter worth about $137,000. A.R.T. Advisors LLC purchased a new position in Ultratech during the fourth quarter worth about $211,000. Menta Capital LLC purchased a new position in Ultratech during the fourth quarter worth about $226,000. Virtu Financial LLC purchased a new position in Ultratech during the first quarter worth about $286,000. Finally, Louisiana State Employees Retirement System increased its position in Ultratech by 2.1% in the first quarter. Louisiana State Employees Retirement System now owns 9,700 shares of the semiconductor company’s stock worth $287,000 after buying an additional 200 shares in the last quarter. 92.68% of the stock is owned by institutional investors and hedge funds.
Shares of Ultratech, Inc. (UTEK) opened at 30.23 on Tuesday. Ultratech, Inc. has a 1-year low of $20.56 and a 1-year high of $30.94. The stock’s 50 day moving average price is $30.09 and its 200-day moving average price is $27.10.
Ultratech (NASDAQ:UTEK) last released its quarterly earnings data on Thursday, April 20th. The semiconductor company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.27 by $0.08. Ultratech had a return on equity of 3.22% and a net margin of 5.17%. The company had revenue of $57.41 million for the quarter, compared to analysts’ expectations of $50.97 million. During the same period last year, the firm posted $0.10 earnings per share. Analysts expect that Ultratech, Inc. will post $1.42 EPS for the current year.
A number of equities analysts have issued reports on the stock. B. Riley reaffirmed a “neutral” rating and set a $30.00 price objective on shares of Ultratech in a report on Sunday, June 4th. Zacks Investment Research raised shares of Ultratech from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Thursday, April 27th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $28.00 price objective on shares of Ultratech in a report on Sunday, April 23rd.
In related news, insider Dave Ghosh sold 21,780 shares of the stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $30.55, for a total transaction of $665,379.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 5.92% of the company’s stock.
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 packaging processes and various nanotechnology components such as laser diodes, high-brightness light emitting diodes (HBLEDs) and micro-electro-mechanical systems (MEMS), as well as atomic layer deposition systems (ALD) for customers located throughout the world.
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