“Ultratech, Inc.” Rating Lowered to Underperform at Zacks (UTEK)
“Ultratech, Inc.” (NASDAQ:UTEK) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a report issued on Tuesday, Stock Ratings Network.com reports. They currently have a $23.30 target price on the stock. Zacks‘ price target would indicate a potential downside of 5.17% from the stock’s previous close.
A number of other analysts have also recently weighed in on UTEK. Analysts at DA Davidson cut their price target on shares of “Ultratech, Inc.” from $27.00 to $22.00 in a research note to investors on Friday. They now have an “underperform” rating on the stock. Separately, analysts at Canaccord Genuity downgraded shares of “Ultratech, Inc.” to a “hold” rating in a research note to investors on Friday. Finally, analysts at Canaccord Genuity downgraded shares of “Ultratech, Inc.” from a “buy” rating to a “hold” rating in a research note to investors on Friday. They now have a $25.00 price target on the stock, down previously from $37.00. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $31.33.
Shares of “Ultratech, Inc.” (NASDAQ:UTEK) traded down 2.24% during mid-day trading on Tuesday, hitting $24.02. 326,589 shares of the company’s stock traded hands. “Ultratech, Inc.” has a 52 week low of $24.00 and a 52 week high of $43.00. The stock’s 50-day moving average is $29.5 and its 200-day moving average is $32.0. The company has a market cap of $668.5 million and a price-to-earnings ratio of 34.85.
“Ultratech, Inc.” (NASDAQ:UTEK) last issued its quarterly earnings data on Thursday, October 17th. The company reported ($0.28) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.04 by $0.32. 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.
Ultratech, Inc, develops, manufactures and markets photolithography, laser thermal processing, and inspection equipment.
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