Ultratech Stock Hits New 52-Week High (UTEK)

NEW YORK (TheStreet) -- Ultratech (Nasdaq:UTEK) hit a new 52-week high Thursday as it is currently trading at $29.80, above its previous 52-week high of $29.66 with 846,401 shares traded as of 11:32 a.m. ET. Average volume has been 262,700 shares over the past 30 days.

Ultratech has a market cap of $627.5 million and is part of the technology sector and electronics industry. Shares are up 25.9% year to date as of the close of trading on Wednesday.

Ultratech, Inc. develops, manufactures, and markets photolithography and laser thermal processing equipment. The company has a P/E ratio of 37.3, equal to the average electronics industry P/E ratio and above the S&P 500 P/E ratio of 16.4.

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TheStreet Ratings rates Ultratech as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Ultratech Ratings Report.

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