Cadence Capital Management LLC Sells 3,599 Shares of Rudolph Technologies Inc (NYSE:RTEC)

Cadence Capital Management LLC cut its position in shares of Rudolph Technologies Inc (NYSE:RTEC) by 3.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 107,597 shares of the scientific and technical instruments company’s stock after selling 3,599 shares during the period. Cadence Capital Management LLC owned approximately 0.35% of Rudolph Technologies worth $2,973,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in RTEC. Royce & Associates LP lifted its stake in shares of Rudolph Technologies by 6.8% in the 1st quarter. Royce & Associates LP now owns 844,234 shares of the scientific and technical instruments company’s stock valued at $19,249,000 after purchasing an additional 53,948 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Rudolph Technologies by 2.8% in the second quarter. Bank of New York Mellon Corp now owns 410,473 shares of the scientific and technical instruments company’s stock worth $11,341,000 after buying an additional 11,111 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Rudolph Technologies by 78.0% in the first quarter. JPMorgan Chase & Co. now owns 406,022 shares of the scientific and technical instruments company’s stock worth $9,258,000 after buying an additional 177,888 shares during the period. Investment Counselors of Maryland LLC increased its holdings in Rudolph Technologies by 72.0% during the 2nd quarter. Investment Counselors of Maryland LLC now owns 405,430 shares of the scientific and technical instruments company’s stock worth $11,202,000 after purchasing an additional 169,682 shares during the period. Finally, THB Asset Management increased its holdings in Rudolph Technologies by 4.4% during the 2nd quarter. THB Asset Management now owns 393,697 shares of the scientific and technical instruments company’s stock worth $10,877,000 after purchasing an additional 16,619 shares during the period. 95.43% of the stock is owned by institutional investors.

Shares of Rudolph Technologies stock traded down $0.16 during trading on Friday, reaching $25.24. The company’s stock had a trading volume of 1,371 shares, compared to its average volume of 185,894. The company has a 50-day simple moving average of $24.15 and a two-hundred day simple moving average of $24.28. Rudolph Technologies Inc has a 1-year low of $18.13 and a 1-year high of $29.57. The company has a quick ratio of 5.70, a current ratio of 8.07 and a debt-to-equity ratio of 0.03. The company has a market cap of $781.73 million, a price-to-earnings ratio of 17.73, a P/E/G ratio of 2.27 and a beta of 1.06.

Rudolph Technologies (NYSE:RTEC) last issued its quarterly earnings results on Tuesday, July 30th. The scientific and technical instruments company reported $0.29 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.07. The company had revenue of $61.51 million during the quarter, compared to analysts’ expectations of $62.56 million. Rudolph Technologies had a return on equity of 8.44% and a net margin of 11.55%. The firm’s revenue was down 20.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.51 EPS. As a group, analysts anticipate that Rudolph Technologies Inc will post 1.05 earnings per share for the current year.

RTEC has been the topic of several research reports. Zacks Investment Research downgraded Rudolph Technologies from a “hold” rating to a “sell” rating in a report on Tuesday. Dougherty & Co downgraded Rudolph Technologies from a “buy” rating to a “neutral” rating in a report on Wednesday, July 31st. ValuEngine downgraded Rudolph Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, TheStreet downgraded Rudolph Technologies from a “b-” rating to a “c+” rating in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $31.00.

About Rudolph Technologies

Rudolph Technologies, Inc designs, develops, manufactures, and supports process control defect inspection and metrology, advanced packaging lithography, and process control software systems used by microelectronic device manufacturers. It offers process and yield management solutions used in bare silicon wafer production and processing facilities, and device packaging and test facilities through standalone systems for macro-defect inspection, packaging lithography, probe card test and analysis, and transparent and opaque thin film measurements.

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Institutional Ownership by Quarter for Rudolph Technologies (NYSE:RTEC)

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