Moving on to the Ultratech Inc. (NASDAQ:UTEK), it seems that Clinton Carlson is betting on a turnaround for the stock following the announcement of its better-than-expected financial results for the second quarter of 2015. Ultaratech is a leading supplier of lithography, laser-processing and inspection systems used to manufacture semiconductor devices and high-brightness LEDs. The stock has performed very poorly over the last months, as it embarked on a strong downward trend in mid-May. Ultratech posted net sales of $45.9 million for the second quarter, compared to $36.8 million reported in the same quarter a year ago. Additionally, the company delivered a net income of $1.5 million or $0.06 per share, compared to a net loss of $3.9 million or $0.14 per share a year ago. Arthur W. Zafiropoulo, who currently serves as the Chairman and Chief Executive Officer at Ultratech, has suggested that the company has delivered a very strong quarter, partly thanks to the strong demand for its advanced packaging tools driven by the need for cutting-edge consumer mobile products.
Let’s now forget to mention that the shares of Ultratech have decreased by over 10% year-to-date, but might eventually achieve a turnaround as the stock embarked on a strong uptrend recently. From the massive pool of hedge funds that we track, Phill Gross and Robert Atchinson’s Adage Capital Management is among the largest shareholders in Ultratech Inc. (NASDAQ:UTEK) with a stake of 644,326 shares.