Ironwood Investment Management Lowers stake in Ultratech (UTEK)

Ultratech (UTEK) : Ironwood Investment Management reduced its stake in Ultratech by 8.53% during the most recent quarter end. The investment management company now holds a total of 83,003 shares of Ultratech which is valued at $2,051,834 after selling 7,737 shares in Ultratech , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Ultratech makes up approximately 1.45% of Ironwood Investment Management’s portfolio.

Other Hedge Funds, Including , Clearbridge Investments reduced its stake in UTEK by selling 3,261 shares or 0.44% in the most recent quarter. The Hedge Fund company now holds 734,403 shares of UTEK which is valued at $18,154,442. Ultratech makes up approx 0.02% of Clearbridge Investments’s portfolio.Tiaa Cref Investment Management reduced its stake in UTEK by selling 25,941 shares or 24.7% in the most recent quarter. The Hedge Fund company now holds 79,084 shares of UTEK which is valued at $1,954,956.Tygh Capital Management boosted its stake in UTEK in the latest quarter, The investment management firm added 24,806 additional shares and now holds a total of 217,559 shares of Ultratech which is valued at $5,286,684. Ultratech makes up approx 1.40% of Tygh Capital Management’s portfolio.California State Teachers Retirement System reduced its stake in UTEK by selling 13,156 shares or 22.49% in the most recent quarter. The Hedge Fund company now holds 45,334 shares of UTEK which is valued at $1,080,309.

Ultratech closed down -0.08 points or -0.32% at $24.93 with 1,16,229 shares getting traded on Thursday. Post opening the session at $24.93, the shares hit an intraday low of $24.67 and an intraday high of $25.02 and the price fluctuated in this range throughout the day.Shares ended Thursday 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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