Ultratech upgraded at BofA/Merrill As previously reported, BofA/Merrill upgraded Ultratech to Buy from Neutral. The firm upgraded shares based on valuation, improving earnings and FinFET opportunity in 2015. Price target is $31.
News For UTEK From The Last 14 Days
Check below for free stories on UTEK the last two weeks.
Ultratech sees upward trend in advanced packaging bookings at IDM/OSAT companies The company also says there has been a ramp up in FinFET production into 2015 although companies have reported they have difficult improving yield.
Ultratech expects FY14 revenue growth of 15%-25% YoY, consensus $189.67M Expects growth in all four product lines, with gross margin to increase and average around 50% for the entire year. Operating expenses in 2014 will be up by a few million dollars compared to 2013, and FY14 tax rate to be about 5%. Sees FY14 cash flow to be positive. Comments taken from Q2 earnings conference call.