D.A. Davidson Raises Price Target On Rudolph Technologies As Hybrid Model Drives Strong Beat & Raise Quarter

In a report published Tuesday, D.A. Davidson analyst Thomas Diffely reiterated a Buy rating on

, 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.