Bank of New York Mellon Corp decreased its stake in shares of Ultratech Inc. (NASDAQ:UTEK) by 10.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 343,000 shares of the company’s stock after selling 39,863 shares during the period. Bank of New York Mellon Corp owned about 1.28% of Ultratech worth $7,879,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Nisa Investment Advisors L.L.C. increased its stake in Ultratech by 29.8% in the first quarter. Nisa Investment Advisors L.L.C. now owns 19,582 shares of the company’s stock valued at $428,000 after buying an additional 4,500 shares during the last quarter. Prudential Financial Inc. increased its stake in Ultratech by 4.0% in the first quarter. Prudential Financial Inc. now owns 62,830 shares of the company’s stock valued at $1,372,000 after buying an additional 2,400 shares during the last quarter. BlackRock Group LTD increased its stake in Ultratech by 15.3% in the first quarter. BlackRock Group LTD now owns 41,314 shares of the company’s stock valued at $901,000 after buying an additional 5,483 shares during the last quarter. BlackRock Fund Advisors increased its stake in Ultratech by 1.4% in the first quarter. BlackRock Fund Advisors now owns 1,754,385 shares of the company’s stock valued at $38,316,000 after buying an additional 24,776 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in Ultratech by 3.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 759,171 shares of the company’s stock valued at $16,580,000 after buying an additional 24,603 shares during the last quarter. Institutional investors and hedge funds own 95.51% of the company’s stock.

Shares of Ultratech Inc. (NASDAQ:UTEK) traded down 2.69% during mid-day trading on Friday, hitting $23.16. The stock had a trading volume of 768,793 shares. Ultratech Inc. has a 52-week low of $13.97 and a 52-week high of $26.40. The firm’s market cap is $619.88 million. The firm has a 50 day moving average price of $24.78 and a 200 day moving average price of $22.69.

Ultratech (NASDAQ:UTEK) last released its earnings results on Thursday, July 21st. The company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.01. The firm earned $48.90 million during the quarter, compared to analyst estimates of $48.56 million. Ultratech had a negative return on equity of 2.80% and a negative net margin of 8.70%. Equities analysts predict that Ultratech Inc. will post $0.91 EPS for the current year.

Several analysts have weighed in on UTEK shares. Zacks Investment Research downgraded Ultratech from a “buy” rating to a “hold” rating in a research note on Thursday, June 23rd. B. Riley reiterated a “neutral” rating and set a $25.00 price target on shares of Ultratech in a research note on Monday, July 25th. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $24.50.

In other Ultratech news, insider Dave Ghosh sold 1,900 shares of the firm’s stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $24.98, for a total value of $47,462.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Carlson Capital L. P sold 79,312 shares of the firm’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $25.33, for a total value of $2,008,972.96. The disclosure for this sale can be found here. 5.92% of the stock is owned by corporate insiders.

Ultratech Company Profile

Ultratech, Inc (Ultratech) develops, manufactures and markets photolithography, laser thermal processing and inspection equipment. The Company operates through the manufacture and distribution of capital equipment to manufacturers of integrated circuits and nanotechnology components segment. 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 or TFHs), laser diodes, high-brightness light emitting diodes (HBLEDs), as well as atomic layer deposition systems (ALD).

5 Day Chart for NASDAQ:UTEK

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