Prudential Financial Inc. Acquires 8,370 Shares of Rudolph Technologies, Inc. (RTEC)
Prudential Financial Inc. grew its holdings in Rudolph Technologies, Inc. (NYSE:RTEC) by 15.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,020 shares of the scientific and technical instruments company’s stock after acquiring an additional 8,370 shares during the period. Prudential Financial Inc. owned about 0.19% of Rudolph Technologies worth $1,394,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. Morgan Stanley increased its stake in shares of Rudolph Technologies by 15.7% in the first quarter. Morgan Stanley now owns 345,351 shares of the scientific and technical instruments company’s stock worth $7,736,000 after acquiring an additional 46,941 shares during the period. Swiss National Bank lifted its position in Rudolph Technologies by 6.4% during the first quarter. Swiss National Bank now owns 48,300 shares of the scientific and technical instruments company’s stock valued at $1,082,000 after purchasing an additional 2,900 shares during the period. Westwood Management Corp IL lifted its position in Rudolph Technologies by 100.0% during the second quarter. Westwood Management Corp IL now owns 20,000 shares of the scientific and technical instruments company’s stock valued at $457,000 after purchasing an additional 10,000 shares during the period. Legato Capital Management LLC lifted its position in Rudolph Technologies by 888.8% during the second quarter. Legato Capital Management LLC now owns 15,336 shares of the scientific and technical instruments company’s stock valued at $350,000 after purchasing an additional 13,785 shares during the period. Finally, Cigna Investments Inc. New acquired a new position in Rudolph Technologies during the second quarter valued at $266,000. 91.89% of the stock is currently owned by institutional investors and hedge funds.
Shares of Rudolph Technologies, Inc. (NYSE RTEC) opened at 26.25 on Tuesday. The firm has a market cap of $827.93 million, a price-to-earnings ratio of 26.49 and a beta of 1.12. Rudolph Technologies, Inc. has a 52-week low of $16.80 and a 52-week high of $27.30. The company’s 50-day moving average is $23.05 and its 200 day moving average is $23.50.
Rudolph Technologies (NYSE:RTEC) last announced its earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.02. The company had revenue of $67.40 million for the quarter, compared to the consensus estimate of $65.60 million. Rudolph Technologies had a return on equity of 10.36% and a net margin of 13.02%. The company’s revenue was up 7.5% on a year-over-year basis. During the same period last year, the business posted $0.31 EPS. On average, analysts expect that Rudolph Technologies, Inc. will post $1.17 earnings per share for the current fiscal year.
Several equities research analysts have weighed in on the company. Stifel Nicolaus raised Rudolph Technologies from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Friday, June 16th. They noted that the move was a valuation call. B. Riley began coverage on Rudolph Technologies in a report on Monday, September 11th. They issued a “buy” rating and a $30.00 price objective for the company. BidaskClub raised Rudolph Technologies from a “hold” rating to a “buy” rating in a report on Thursday, September 21st. Zacks Investment Research downgraded Rudolph Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Finally, DA Davidson restated a “buy” rating and issued a $30.00 target price on shares of Rudolph Technologies in a research note on Monday, September 18th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $27.67.
About Rudolph Technologies
Rudolph Technologies, Inc (Rudolph) is engaged in the design, development, manufacture and support of process control defect inspection and metrology, advanced packaging lithography, and data analysis systems and software used by microelectronics device manufacturers. The Company provides process and yield management solutions used in both wafer processing and final manufacturing through a family of standalone systems for macro-defect inspection, lithography, probe card test and analysis, and transparent and opaque thin film measurements.
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