Zacks Investment Research Downgrades Rudolph Technologies (RTEC) to Sell
Rudolph Technologies (NYSE:RTEC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.
According to Zacks, “Rudolph Technologies is a worldwide leader in the design, development, manufacture and support of high-performance process control metrology, defect inspection and data analysis systems used by semiconductor device manufacturers. Rudolph provides a full-fab solution through its families of proprietary products that provide critical yield-enhancing information, enabling microelectronic device manufacturers to drive down costs and time to market. Rudolph has enhanced the competitiveness of its products in the marketplace by anticipating and addressing many emerging trends driving the semiconductor industry’s growth. Rudolph’s strategy for continued technological and market leadership includes aggressive research and development of complementary metrology and inspection solutions. “
Several other equities research analysts have also recently issued reports on RTEC. Credit Suisse Group raised their price objective on Rudolph Technologies from $23.00 to $24.00 and gave the stock an “underperform” rating in a report on Tuesday, October 31st. B. Riley restated a “buy” rating and set a $30.00 price objective on shares of Rudolph Technologies in a report on Tuesday, October 31st. BidaskClub upgraded Rudolph Technologies from a “hold” rating to a “buy” rating in a report on Thursday, September 21st. Finally, DA Davidson restated a “buy” rating and set a $30.00 price objective on shares of Rudolph Technologies in a report on Monday, September 18th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Rudolph Technologies currently has a consensus rating of “Hold” and a consensus price target of $28.00.
Rudolph Technologies (NYSE:RTEC) traded up $0.15 during trading on Tuesday, reaching $25.30. The company’s stock had a trading volume of 85,400 shares, compared to its average volume of 126,160. The stock has a market capitalization of $799.15, a P/E ratio of 20.40, a price-to-earnings-growth ratio of 1.48 and a beta of 1.05. Rudolph Technologies has a one year low of $21.00 and a one year high of $28.10.
Rudolph Technologies (NYSE:RTEC) last released its quarterly earnings results on Monday, October 30th. The scientific and technical instruments company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.02. The company had revenue of $66.90 million during the quarter, compared to the consensus estimate of $66.25 million. Rudolph Technologies had a return on equity of 10.49% and a net margin of 15.99%. Rudolph Technologies’s revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.29 earnings per share. equities research analysts forecast that Rudolph Technologies will post 1.04 EPS for the current year.
In related news, VP Robert Alan Koch sold 3,500 shares of Rudolph Technologies stock in a transaction on Monday, November 20th. The stock was sold at an average price of $26.31, for a total value of $92,085.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel H. Berry sold 6,000 shares of Rudolph Technologies stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $26.13, for a total value of $156,780.00. Following the completion of the transaction, the director now owns 24,200 shares in the company, valued at approximately $632,346. The disclosure for this sale can be found here. Insiders sold 19,500 shares of company stock worth $511,765 in the last quarter. 2.00% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the stock. Cornerstone Capital Management Holdings LLC. acquired a new position in Rudolph Technologies in the third quarter valued at $139,000. Victory Capital Management Inc. raised its position in Rudolph Technologies by 17.6% in the second quarter. Victory Capital Management Inc. now owns 9,387 shares of the scientific and technical instruments company’s stock valued at $214,000 after purchasing an additional 1,408 shares during the period. BNP Paribas Arbitrage SA raised its position in Rudolph Technologies by 29.9% in the second quarter. BNP Paribas Arbitrage SA now owns 9,433 shares of the scientific and technical instruments company’s stock valued at $216,000 after purchasing an additional 2,170 shares during the period. SG Americas Securities LLC raised its position in Rudolph Technologies by 37.4% in the third quarter. SG Americas Securities LLC now owns 10,459 shares of the scientific and technical instruments company’s stock valued at $275,000 after purchasing an additional 2,848 shares during the period. Finally, Crossmark Global Holdings Inc. purchased a new position in Rudolph Technologies in the third quarter valued at about $292,000. Hedge funds and other institutional investors own 92.52% of the company’s stock.
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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