The PNC Financial Services Group Inc. Sells shares of Rudolph Technologies Inc. (RTEC)

The PNC Financial Services Group Inc. Sells shares of Rudolph Technologies Inc. (RTEC)

PNC Financial Services Group Inc. reduced its position in Rudolph Technologies Inc. (NYSE:RTEC) by 11.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,556 shares of the company’s stock after selling 836 shares during the period. PNC Financial Services Group Inc.’s holdings in Rudolph Technologies were worth $102,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. BNP Paribas Arbitrage SA increased its stake in shares of Rudolph Technologies by 111.8% in the second quarter. BNP Paribas Arbitrage SA now owns 9,510 shares of the company’s stock valued at $148,000 after buying an additional 5,020 shares in the last quarter. Acrospire Investment Management LLC bought a new stake in shares of Rudolph Technologies during the first quarter valued at $151,000. American Financial Group Inc. increased its stake in shares of Rudolph Technologies by 43.4% in the first quarter. American Financial Group Inc. now owns 19,278 shares of the company’s stock valued at $263,000 after buying an additional 5,838 shares in the last quarter. 1st Global Advisors Inc. increased its stake in shares of Rudolph Technologies by 0.8% in the second quarter. 1st Global Advisors Inc. now owns 17,245 shares of the company’s stock valued at $268,000 after buying an additional 133 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in shares of Rudolph Technologies during the second quarter valued at $276,000. Institutional investors own 92.13% of the company’s stock.

Rudolph Technologies Inc. (NYSE:RTEC) traded down 0.17% during midday trading on Wednesday, reaching $17.81. The company had a trading volume of 28,282 shares. Rudolph Technologies Inc. has a 1-year low of $11.17 and a 1-year high of $18.36. The stock has a market capitalization of $551.04 million, a PE ratio of 17.83 and a beta of 1.23. The firm’s 50 day moving average is $17.66 and its 200 day moving average is $15.64.

Rudolph Technologies (NYSE:RTEC) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.07. Rudolph Technologies had a net margin of 13.95% and a return on equity of 9.17%. The firm earned $62.70 million during the quarter, compared to analysts’ expectations of $60.27 million. During the same period in the previous year, the company earned $0.23 earnings per share. Rudolph Technologies’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, equities analysts anticipate that Rudolph Technologies Inc. will post $1.04 EPS for the current fiscal year.

A number of research firms have recently commented on RTEC. B. Riley restated a “buy” rating and set a $19.50 target price on shares of Rudolph Technologies in a research report on Wednesday, August 3rd. Stifel Nicolaus raised their target price on Rudolph Technologies from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Wednesday, July 27th. Zacks Investment Research upgraded Rudolph Technologies from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research report on Thursday, August 4th. Finally, Dougherty & Co cut Rudolph Technologies from a “buy” rating to a “neutral” rating in a research report on Friday, July 29th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Rudolph Technologies currently has a consensus rating of “Buy” and a consensus price target of $18.50.

In other news, insider Steven R. Roth sold 15,000 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $17.00, for a total value of $255,000.00. Following the completion of the sale, the insider now directly owns 76,207 shares of the company’s stock, valued at $1,295,519. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Leo Berlinghieri sold 13,100 shares of the company’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $17.00, for a total transaction of $222,700.00. Following the completion of the sale, the director now directly owns 15,900 shares of the company’s stock, valued at $270,300. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by insiders.

About Rudolph Technologies

Rudolph Technologies, Inc (Rudolph) is engaged in the design, development, manufacture and support of defect inspection, packaging lithography, thin film metrology, and data analysis systems and software used by microelectronics device manufacturers. The Company operates in a segment of the design, development, manufacture and support of process control defect inspection and metrology; packaging lithography, and data analysis systems and software used by microelectronics device manufacturers.

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