Credit Suisse Downgrades Rudolph Technologies to Neutral (RTEC)
Rudolph Technologies (NASDAQ:RTEC) was downgraded by research analysts at Credit Suisse from an “outperform” rating to a “neutral” rating in a report released on Tuesday, TheFlyOnTheWall.com reports. They currently have a $11.50 price target on the stock. Credit Suisse’s price objective points to a potential downside of 4.72% from the company’s current price.
The analysts wrote, “RTEC has the highest market share in macro-inspection for advanced packaging and will benefit when packaging moves to more complex 2.5D/3D. We however now believe that decline in Front-end revenues is structural and don’t expect recovery back to 2012 levels – this could lead to CY14 revenues and EPS downside to $215mn/$0.60 versus our current model at $229m/$0.76 and street at $224m/$0.69.”
RTEC has been the subject of a number of other recent research reports. Analysts at TheStreet downgraded shares of Rudolph Technologies from a “buy” rating to a “hold” rating in a research note to investors on Thursday, November 7th. Analysts at DA Davidson cut their price target on shares of Rudolph Technologies from $16.00 to $15.00 in a research note to investors on Friday, November 1st. They now have a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $13.88.
Rudolph Technologies (NASDAQ:RTEC) traded up 2.03% during mid-day trading on Tuesday, hitting $12.07. 165,436 shares of the company’s stock traded hands. Rudolph Technologies has a 1-year low of $10.08 and a 1-year high of $13.99. The stock’s 50-day moving average is $11.40 and its 200-day moving average is $11.23. The company has a market cap of $397.6 million and a P/E ratio of 12.86.
Rudolph Technologies (NASDAQ:RTEC) last announced its earnings results on Monday, November 4th. The company reported $0.06 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.06. The company had revenue of $44.00 million for the quarter, compared to the consensus estimate of $46.36 million. During the same quarter in the prior year, the company posted $0.25 earnings per share. The company’s quarterly revenue was down 29.3% on a year-over-year basis. On average, analysts predict that Rudolph Technologies will post $0.21 earnings per share for the current fiscal year.
Rudolph Technologies, Inc is engaged in the design, development, and manufacture of process control defect inspection, metrology, and process control software systems used by microelectronics device manufacturers.
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