Ultratech Inc. (NASDAQ:UTEK) has received a consensus rating of “Hold” from the seven analysts that are presently covering the stock. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $23.38.
A number of brokerages have recently weighed in on UTEK. B. Riley reaffirmed a “neutral” rating and set a $25.00 target price on shares of Ultratech in a research report on Monday, July 25th. Zacks Investment Research raised Ultratech from a “hold” rating to a “strong-buy” rating and set a $29.00 target price on the stock in a research report on Thursday, July 28th.
In related news, SVP Tammy Denice Landon sold 10,186 shares of the 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Carlson Capital L. P sold 79,312 shares of the stock in a transaction on Monday, July 25th. The shares were sold at an average price of $25.33, for a total value of $2,008,972.96. The disclosure for this sale can be found here. 5.92% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in UTEK. Mason Street Advisors LLC bought a new stake in Ultratech during the second quarter worth approximately $120,000. BlackRock Inc. raised its stake in shares of Ultratech by 250.4% in the second quarter. BlackRock Inc. now owns 6,016 shares of the company’s stock valued at $138,000 after buying an additional 4,299 shares in the last quarter. Sei Investments Co. raised its stake in shares of Ultratech by 21.4% in the second quarter. Sei Investments Co. now owns 7,941 shares of the company’s stock valued at $182,000 after buying an additional 1,401 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Ultratech by 117.1% in the second quarter. BNP Paribas Arbitrage SA now owns 8,122 shares of the company’s stock valued at $187,000 after buying an additional 4,381 shares in the last quarter. Finally, Capital Fund Management S.A. acquired a new stake in shares of Ultratech during the second quarter valued at about $237,000. 94.93% of the stock is owned by institutional investors and hedge funds.
Shares of Ultratech (NASDAQ:UTEK) traded down 0.33% during midday trading on Friday, hitting $23.89. 26,634 shares of the stock were exchanged. Ultratech has a 1-year low of $13.97 and a 1-year high of $26.40. The firm’s market capitalization is $639.42 million. The stock’s 50-day moving average price is $24.57 and its 200-day moving average price is $22.82.
Ultratech (NASDAQ:UTEK) last issued its earnings results on Thursday, July 21st. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. Ultratech had a negative return on equity of 2.80% and a negative net margin of 8.70%. The company had revenue of $48.90 million for the quarter, compared to analyst estimates of $48.56 million. On average, analysts forecast that Ultratech will post $0.91 EPS for the current year.
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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