Thomson Reuters/Verus Upgrades “Ultratech, Inc.” to “Hold” (UTEK)
“Ultratech, Inc.” (NASDAQ:UTEK) was upgraded by equities researchers at Thomson Reuters/Verus from a “sell” rating to a “hold” rating in a research report issued on Monday, StockRatingsNetwork reports.
Several other analysts have also recently commented on the stock. Analysts at TheStreet downgraded shares of “Ultratech, Inc.” from a “buy” rating to a “hold” rating in a research note to investors on Tuesday, August 13th. Separately, analysts at Zacks downgraded shares of “Ultratech, Inc.” from a “neutral” rating to an “underperform” rating in a research note to investors on Tuesday, July 23rd. They now have a $28.10 price target on the stock. Finally, analysts at Merrill Lynch downgraded shares of “Ultratech, Inc.” from a “buy” rating to a “neutral” rating in a research note to investors on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $34.42.
Shares of “Ultratech, Inc.” (NASDAQ:UTEK) traded down 1.63% on Monday, hitting $29.50. 159,410 shares of the company’s stock traded hands. “Ultratech, Inc.” has a 52-week low of $27.10 and a 52-week high of $43.00. The stock has a 50-day moving average of $29.29 and a 200-day moving average of $32.91. The company has a market cap of $819.3 million and a P/E ratio of 21.06.
“Ultratech, Inc.” (NASDAQ:UTEK) last announced its earnings results on Thursday, July 18th. The company reported $0.03 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.04 by $0.01. The company had revenue of $42.90 million for the quarter, compared to the consensus estimate of $44.56 million. During the same quarter last year, the company posted $0.41 earnings per share. “Ultratech, Inc.”‘s revenue was down 27.4% compared to the same quarter last year.
Ultratech, Inc, develops, manufactures and markets photolithography, laser thermal processing, and inspection equipment.
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