In a report published Tuesday, D.A. Davidson analyst Thomas Diffely reiterated a Buy rating on Rudolph Technologies RTEC, and raised the price target from $12.00 to $13.00.
In the report, D.A. Davidson noted, “Strong 4Q results driven by front end ramp. Revenue of $49.6 million and pro-forma EPS of $0.13 significantly beat the Street mean of $45 million and $0.06, respectively. The front end / back end split was 61% / 39% as metrology accounted for nearly 1/3rd of total business in the quarter and GMs of 52% were impacted to the tune of 100 basis points from restructuring, which should save around $4 million per year going forward.”
Rudolph Technologies closed on Monday at $10.16.
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