Ultratech Rises On Unusually High Volume (UTEK)

NEW YORK ( TheStreet) -- Ultratech (Nasdaq: UTEK) is trading at unusually high volume Thursday with 874,500 shares changing hands. It is currently at four times its average daily volume and trading up $3.37 (+11.4%) at $33.01 as of 2:05 p.m. ET.

Ultratech has a market cap of $729.1 million and is part of the technology sector and electronics industry. Shares are up 20.6% 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 20, above the average electronics industry P/E ratio of 19 and above the S&P 500 P/E ratio of 17.7.

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, solid stock price performance, compelling growth in net income and good cash flow from operations. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full Ultratech Ratings Report.

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