UTEK

Ultratech, Inc.

TMT


Presented:01/15/2014
Price:$27.00
Cap:$0.75B
Current Price:$30.23
Cap:$0.82B

Presented

Date01/15/2014
Price$27.00
Market Cap$0.75B
Ent Value$0.45B
P/E RatioN/A
Book Value$13.33
Div YieldN/A
Shares O/S27.83M
Ave Daily Vol400,000
Short Int11.96%

Current

Price$30.23
Market Cap$0.82B
Ultratech, Inc. develops, manufactures, and markets photolithography, laser thermal processing, and inspection equipment. It supplies step-and-repeat photolithography systems based on one-to-one imaging technology for semiconductor device and nanotechnology manufacturers. The company’s products include the 1000 series consisting of Sapphire 100 and Sapphire 100E for high-brightness light emitting diodes, semiconductor fabrication, and nanotechnology applications; and AP series for advanced packaging applications. It also offers a family of laser-based thermal annealing tools, such as LSA100A, LSA101, LSA101LP, LSA101HP, LSA201, LSA201LP, and LSA201HP that are used by the semiconductor industry for various process steps, including activation of implanted impurities, dielectric film formation, formation of silicides, and stabilization of copper grain structures. In addition, the company provides Superfast 3G, an in-line wafer inspection system for the inspection of various critical semiconductor inspection steps. Ultratech, Inc. sells its systems to semiconductor, advanced packaging, high-brightness light emitting diodes, thin film head, and various other nanotechnology manufacturers in North America, Europe, and Asia. The company was founded in 1979 and is headquartered in San Jose, California.

Shares of semiconductor equipment supplier Ultratech (UTEK) were extremely volatile in 2013, trading as high as $43 in March and below $24 in November. The presenter is long shares now because he believes UTEK is a “cycle changer” led by a visionary CEO, and with roughly $11 per-share in cash on the balance sheet and the current entry point appears to offer favorable risk/ reward characteristics for this not well followed situation.

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