B. Riley Reaffirms Buy Rating for Rudolph Technologies, Inc. (RTEC)
Rudolph Technologies, Inc. (NYSE:RTEC)‘s stock had its “buy” rating restated by investment analysts at B. Riley in a note issued to investors on Saturday. They currently have a $30.00 price objective on the scientific and technical instruments company’s stock. B. Riley’s target price indicates a potential upside of 28.76% from the stock’s previous close.
A number of other brokerages also recently weighed in on RTEC. Stifel Nicolaus raised Rudolph Technologies from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a research report on Friday, June 16th. They noted that the move was a valuation call. BidaskClub downgraded Rudolph Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, July 6th. Finally, Zacks Investment Research downgraded Rudolph Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $27.20.
Shares of Rudolph Technologies (RTEC) traded down 1.06% during mid-day trading on Friday, hitting $23.30. 409,284 shares of the stock were exchanged. The stock’s 50 day moving average is $22.36 and its 200 day moving average is $23.22. Rudolph Technologies has a 12 month low of $16.80 and a 12 month high of $27.30. The firm has a market cap of $734.88 million, a P/E ratio of 23.51 and a beta of 1.12.
Rudolph Technologies (NYSE:RTEC) last posted its quarterly earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02. Rudolph Technologies had a return on equity of 10.36% and a net margin of 13.02%. The business had revenue of $67.40 million for the quarter, compared to the consensus estimate of $65.60 million. During the same quarter in the prior year, the company earned $0.31 EPS. The business’s revenue was up 7.5% compared to the same quarter last year. Analysts expect that Rudolph Technologies will post $1.17 EPS for the current fiscal year.
A number of hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio bought a new stake in Rudolph Technologies during the second quarter valued at about $441,000. Sterling Capital Management LLC boosted its position in Rudolph Technologies by 31.9% during the second quarter. Sterling Capital Management LLC now owns 30,873 shares of the scientific and technical instruments company’s stock valued at $705,000 after purchasing an additional 7,459 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Rudolph Technologies by 4.2% during the second quarter. The Manufacturers Life Insurance Company now owns 24,202 shares of the scientific and technical instruments company’s stock valued at $554,000 after purchasing an additional 983 shares in the last quarter. Cubist Systematic Strategies LLC boosted its position in Rudolph Technologies by 78.0% during the second quarter. Cubist Systematic Strategies LLC now owns 13,615 shares of the scientific and technical instruments company’s stock valued at $311,000 after purchasing an additional 5,966 shares in the last quarter. Finally, Gotham Asset Management LLC bought a new stake in Rudolph Technologies during the second quarter valued at about $1,273,000. 91.89% of the stock is currently owned by institutional investors.
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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