Shares of Ultratech Inc. (NASDAQ:UTEK) have been given a consensus recommendation of “Hold” by the seven ratings firms that are presently covering the stock. Six research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $23.38.
A number of research firms have weighed in on UTEK. B. Riley restated a “neutral” rating and set a $25.00 target price on shares of Ultratech in a report on Monday, July 25th. Zacks Investment Research upgraded Ultratech from a “hold” rating to a “strong-buy” rating and set a $29.00 target price for the company in a report on Thursday, July 28th.
In related news, SVP Tammy Denice Landon sold 10,186 shares of the company’s 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 filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Carlson Capital L. P sold 79,312 shares of the company’s 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. Insiders own 5.92% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Mason Street Advisors LLC purchased a new position in Ultratech during the second quarter valued at about $120,000. BlackRock Inc. increased its position in 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 during the last quarter. Sei Investments Co. increased its position in 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 during the last quarter. BNP Paribas Arbitrage SA increased its position in 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 during the last quarter. Finally, Capital Fund Management S.A. purchased a new position in Ultratech during the second quarter valued at about $237,000. 94.93% of the stock is currently owned by hedge funds and other institutional investors.
Ultratech (NASDAQ:UTEK) opened at 23.25 on Friday. The stock has a 50 day moving average price of $24.50 and a 200-day moving average price of $22.92. The stock’s market capitalization is $622.29 million. Ultratech has a 1-year low of $13.97 and a 1-year high of $26.40.
Ultratech (NASDAQ:UTEK) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. The firm earned $48.90 million during the quarter, compared to analyst estimates of $48.56 million. Ultratech had a negative return on equity of 2.80% and a negative net margin of 8.70%. Equities research analysts expect that Ultratech will post $0.89 EPS for the current year.
Ultratech Company Profile
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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