“Ultratech, Inc.” (UTEK) Releases Quarterly Earnings Results, Misses Expectations By $0.32 EPS
“Ultratech, Inc.” (NASDAQ:UTEK) posted its quarterly earnings results on Thursday. The company reported ($0.28) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.04 by $0.32, AR Network reports. The company had revenue of $29.70 million for the quarter, compared to the consensus estimate of $42.80 million. During the same quarter in the prior year, the company posted $0.45 earnings per share. The company’s quarterly revenue was down 50.9% on a year-over-year basis.
UTEK has been the subject of a number of recent research reports. Analysts at Thomson Reuters/Verus upgraded shares of “Ultratech, Inc.” from a “sell” rating to a “hold” rating in a research note to investors on Monday, October 7th. On the ratings front, 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. Finally, 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. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $34.42.
“Ultratech, Inc.” (NASDAQ:UTEK) opened at 29.38 on Thursday. “Ultratech, Inc.” has a 52 week low of $27.10 and a 52 week high of $43.00. The stock’s 50-day moving average is $29.74 and its 200-day moving average is $32.37. The company has a market cap of $816.0 million and a price-to-earnings ratio of 20.63.
Ultratech, Inc, develops, manufactures and markets photolithography, laser thermal processing, and inspection equipment.
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