First Mercantile Trust Co Lowers stake in Ultratech (UTEK)

Ultratech (UTEK) : First Mercantile Trust Co reduced its stake in Ultratech by 7.04% during the most recent quarter end. The investment management company now holds a total of 18,803 shares of Ultratech which is valued at $442,811 after selling 1,424 shares in Ultratech , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Ultratech makes up approximately 0.06% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Simplex Trading added UTEK to its portfolio by purchasing 687 company shares during the most recent quarter which is valued at $16,179.Bnp Paribas Arbitrage Sa reduced its stake in UTEK by selling 4,609 shares or 56.75% in the most recent quarter. The Hedge Fund company now holds 3,513 shares of UTEK which is valued at $82,204.Independent Portfolio Consultants boosted its stake in UTEK in the latest quarter, The investment management firm added 1,017 additional shares and now holds a total of 33,624 shares of Ultratech which is valued at $786,802. Ultratech makes up approx 0.25% of Independent Portfolio Consultants’s portfolio.

Ultratech closed down -0.24 points or -1.01% at $23.55 with 1,07,600 shares getting traded on Friday. Post opening the session at $23.77, the shares hit an intraday low of $23.2597 and an intraday high of $23.77 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Ultratech reported $0.23 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on Jul 21, 2016. Analyst had a consensus of $0.10. The company had revenue of $48.90 million for the quarter, compared to analysts expectations of $48.56 million. The company’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 EPS.

Ultratech Inc. (Ultratech) develops manufactures and markets photolithography laser thermal processing and inspection equipment. The Company supplies step-and-repeat photolithography systems based on one-to-one (1X) imaging technology. It offers two different series of 1X lithography systems for use in the semiconductor fabrication process: the 1000 series which addresses the markets for high brightness light emitting diodes (HBLEDs) semiconductor fabrication and nanotechnology applications and the AP series which serves the advanced packaging market. The Company serves manufacturers of semiconductor devices including advanced packaging processes and various nanotechnology components such as thin film head magnetic recording devices (thin film heads) HBLEDs laser diodes and atomic layer deposition systems (ALD) for customers located throughout North America Europe Singapore Japan Taiwan Korea and the rest of Asia.

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