Ultratech Inc. (NASDAQ:UTEK) Receives $23.38 Average Target Price from Analysts
Shares of Ultratech Inc. (NASDAQ:UTEK) have received a consensus rating of “Hold” from the seven brokerages that are currently covering the firm. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $23.38.
Several research firms have weighed in on UTEK. B. Riley reiterated a “neutral” rating and issued a $25.00 price objective 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 price objective for the company in a report on Thursday, July 28th.
In related news, Chairman Arthur W. Zafiropoulo sold 18,789 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $24.02, for a total transaction of $451,311.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Bruce R. Wright sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $24.44, for a total value of $488,800.00. The disclosure for this sale can be found here. 5.92% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Fund Advisors raised its position in Ultratech by 1.4% in the first quarter. BlackRock Fund Advisors now owns 1,754,385 shares of the company’s stock worth $38,316,000 after buying an additional 24,776 shares during the period. Emerald Acquisition Ltd. bought a new position in Ultratech during the second quarter worth $4,573,000. Quentec Asset Management LLC raised its position in Ultratech by 173.4% in the first quarter. Quentec Asset Management LLC now owns 541,291 shares of the company’s stock worth $11,822,000 after buying an additional 343,294 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in Ultratech by 3.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 759,171 shares of the company’s stock worth $16,580,000 after buying an additional 24,603 shares during the period. Finally, Geode Capital Management LLC raised its position in Ultratech by 2.1% in the first quarter. Geode Capital Management LLC now owns 193,780 shares of the company’s stock worth $4,232,000 after buying an additional 3,957 shares during the period. 94.93% of the stock is owned by institutional investors.
Ultratech (NASDAQ:UTEK) opened at 23.25 on Friday. The company’s 50 day moving average price is $24.50 and its 200 day moving average price is $22.92. Ultratech has a 12 month low of $13.97 and a 12 month high of $26.40. The stock’s market cap is $622.29 million.
Ultratech (NASDAQ:UTEK) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate 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 business earned $48.90 million during the quarter, compared to analysts’ expectations of $48.56 million. Equities analysts forecast that Ultratech will post $0.89 EPS for the current fiscal 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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