UP!

RTEC $28.5

RTEC target price
28.50
0
0
Rudolph Technologies, Inc.
Type
Public
Traded as NYSE: RTEC
S&P 600 Component
Industry Semiconductor Equipment & Materials
Founded 1940
Headquarters Wilmington, Massachusetts, United States
Products Semiconductor wafer processing, Semiconductor final manufacturing, Data Storage, Compound semiconductor manufacturing, Flat Panel Display, Micro-Electro-Mechanical Systems (MEMS) manufacturing, Research and development.
Revenue $232.8 million USD (2016)
Number of employees
~580 (2016)
Website www.rudolphtech.com

Rudolph Technologies, Inc. is an American semiconductor company. Formed in 1940 and traded as NYSE: RTEC on the New York Stock Exchange, it is a provider of process characterization equipment and software for semiconductor, data storage, flat panel display and micro-electro-mechanical system (MEMS) manufacturing industries. The company’s product offering includes automated defect inspection and metrology systems, probe card test and analysis systems, and lithography step-and-repeat systems. In addition, Rudolph provides a broad range of software products designed to improve yield, control processes and reduce manufacturing costs.

Rudolph Technologies, Inc. (RTI) traces its origins to 1940, when Otto Curt Rudolph formed O.C. Rudolph & Sons, Inc. Originally an importer of microscopes and scientific instruments, this RTI predecessor was renamed in October 1970 to Rudolph Research Corporation. The company designed optical equipment for laboratories and universities.

The company Otto Rudolph established continued to evolve, making breakthroughs in ellipsometry including the first production-oriented ellipsometer for thin, transparent film measurements. The company continued development of its metrology products, securing new patents along the way.

In June 1996, Richard Spanier, Ph.D., chief executive officer of Rudolph Research, forged a partnership agreement with Boston-based Riverside Partners and New York-based Liberty Partners who, along with others, invested in the company. At that time, Dr. Spanier retired his active role in the company and semiconductor industry veteran Paul F. McLaughlin was named as CEO. In August 1999, the name of the company was changed to Rudolph Technologies, Inc.

In November 1999, RTI made its initial public offering of common stock. Revenues grew dramatically, reaching a record $38.1 million. A new facility opened early in the year, and the company launched a new product, the MetaPULSE® line of copper film measurement tools.

In July 2002, RTI agreed to acquire the Richardson, Texas-based defect control company ISOA, Inc. A spin-off from Texas Tech University’s International Center for Informatics Research, ISOA had been licensing technology to the semiconductor industry for about 16 years, offering defect detection software. The deal was completed in September, with ISOA becoming RTI’s Yield Metrology Group.

Several months later, RTI expanded into China by establishing an office in Shanghai’s Pudong industrial area. In subsequent years, the company established additional offices in all semiconductor manufacturing regions of the world including Japan, Europe, South Korea, Taiwan and Singapore.

In 2006, a merger was completed with Minnesota-based August Technology Corporation, growing Rudolph’s workforce to 550 employees. This acquisition brought Rudolph into the ‘back-end’ of the manufacturing process.

In 2007, the company acquired the semiconductor business of Washington-based Applied Precision LLC, adding probe card test and analysis to the company’s portfolio. The acquisition of RVSI Inspection LLC and its Wafer Scanner inspection system was announced in 2008. Adventa Control Technologies, Inc., a provider of process control software, was acquired in 2009, and an acquisition of MKS Instruments, Inc.’s Yield Dynamics business was completed in 2010. Rudolph announced two acquisitions in 2012. NanoPhotonics GmbH, Mainz, Germany (unpatterned wafer inspection); and Azores Corp., Wilmington, MA (Rudolph's entry into the advanced packaging and FPD lithography markets). In 2013 Rudolph announced the acquisition of selected assets of Tamar Technology, Newbury Park, CA, a supplier of 3D metrology technologies. Rudolph acquired the inspection technology of Stella Alliance in 2015, adding patents to enhance its inspection capability.

As of January 19, 2017, Rudolph Technologies Inc. had a market capitalization of about $713 million.

The company is now headquartered in Wilmington, Massachusetts, with additional U.S. operations in New Jersey, Minnesota, Massachusetts, Texas, New York, Washington and California. Manufacturing operations for inspection and metrology products are consolidated in Minnesota; stepper manufacturing is located in Wilmington, Massachusetts.

Semiconductor device fabrication is the process used to create the integrated circuits that are found in commonly used electronic devices and electrical equipment. It is a multiple-step process during which electronic circuits are gradually built by adding elements and layers of material on a substrate made of pure silicon, or various compounds in the case of specialized applications, hundreds of steps performed by specialized process tools are required before the wafer moves to a final packaging facility.

The focus of packaging and assembly is to ensure an electrical connection from the die to the circuit board, to encapsulate the package for mechanical integrity and to withstand thermal variations. The era of slim form-factor devices, such as smart phones, implies high level of functionality in very dense footprint. Due to these requirements, the challenges in packaging, assembly and test have significantly increased and advanced packaging techniques such as bumping or through-silicon via are necessary.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q2 2019 2019-07-30 0.29 0.18
Q1 2019 2019-05-06 0.31 0.24
Q4 2018 2019-02-04 0.29 0.26
Q3 2018 2018-11-01 0.26 0.22

Ratings

2016-07-04 Reiterated Rating B. Riley Buy $17.00
2016-06-29 Reiterated Rating B. Riley Buy $17.00
2016-05-13 Reiterated Rating B. Riley Buy $17.00
2016-05-10 Reiterated Rating Credit Suisse Buy
2016-05-10 Reiterated Rating Credit Suisse Group AG Buy
2016-05-08 Reiterated Rating B. Riley Buy $17.00
2016-05-03 Reiterated Rating DA Davidson Buy $18.00 to $19.00
2016-05-03 Boost Price Target Stifel Nicolaus Buy $15.00 to $16.00
2016-05-03 Reiterated Rating B. Riley Buy $17.00
2016-03-06 Reiterated Rating B. Riley Buy $16.75
2016-03-01 Reiterated Rating B. Riley Buy $16.75
2016-02-07 Reiterated Rating B. Riley Buy $16.75
2016-02-02 Reiterated Rating B. Riley Buy $16.75
2016-02-02 Boost Price Target Dougherty & Co Buy $15.50 to $16.00
2016-01-14 Upgrade Stifel Nicolaus Hold to Buy $15.00
2015-11-08 Reiterated Rating B. Riley Buy $16.75
2015-11-03 Reiterated Rating B. Riley Buy $15.00 to $16.75
2015-08-08 Reiterated Rating B. Riley RTEC ($11.96 $15.00
2015-08-04 Lower Price Target B. Riley Buy $15.00 to $14.50
2015-08-04 Upgrade Barrington Research Market Perform to Outperform $15.00
2015-08-04 Upgrade Credit Suisse Neutral to Outperform $12.50 to $15.00
2015-06-17 Downgrade Barrington Research Outperform to Market Perform $14.50
2015-05-03 Reiterated Rating DA Davidson Buy $15.00 to $16.00
2015-04-28 Set Price Target Credit Suisse Hold $11.00 to $12.50
2015-04-28 Reiterated Rating B. Riley Buy $13.00 to $14.50
2015-04-23 Upgrade DA Davidson Neutral to Buy $13.00 to $15.00
2015-03-13 Downgrade DA Davidson Buy to Neutral $13.00
2015-02-03 Boost Price Target Dougherty & Co Buy $14.00 to $14.50
2015-02-03 Boost Price Target DA Davidson Buy $12.00 to $13.00
2015-02-03 Reiterated Rating B. Riley Buy $13.00
2015-01-20 Reiterated Rating Credit Suisse Neutral $9.00
2015-01-20 Upgrade Barrington Research Market Perform to Outperform $12.50
2014-11-04 Lower Price Target DA Davidson Buy $13.00 to $12.00
2014-11-04 Reiterated Rating Credit Suisse Neutral $9.50 to $9.00
2014-08-04 Lower Price Target DA Davidson Buy $15.00 to $13.00
2014-06-13 Initiated Coverage Barrington Research Market Perform
2014-05-05 Upgrade Sidoti Neutral to Buy
2014-04-29 Downgrade Stifel Buy to Hold
2014-04-29 Reiterated Rating B. Riley Buy $13.50
2014-04-29 Reiterated Rating Credit Suisse Neutral $11.00 to $10.30
2014-04-29 Downgrade Stifel Nicolaus Buy to Hold $16.00
2014-04-29 Lower Price Target DA Davidson Buy $17.00 to $15.00
2014-02-26 Initiated Coverage B. Riley Buy $14.00
2014-01-14 Downgrade Credit Suisse Outperform to Neutral $11.50
2013-11-05 Lower Price Target Credit Suisse Outperform $13.00 to $11.50
2013-11-01 Lower Price Target DA Davidson Buy $16.00 to $15.00
2013-05-03 Reiterated Dougherty & Company Buy $17 to $15
2012-04-09 Reiterated Stifel Nicolaus Buy $12 to $14
2011-12-09 Initiated Dougherty & Company Buy $14.50
2011-01-13 Upgrade Oppenheimer Underperform to Perform $7 to $10
2010-09-14 Downgrade Oppenheimer Perform to Underperform $11 to $7
2010-08-31 Reiterated Deutsche Bank Hold $8 to $6
2010-06-28 Initiated Rodman & Renshaw Mkt Outperform $10
2010-02-02 Upgrade Piper Jaffray Neutral to Overweight $7.25 to $12
2008-10-02 Downgrade RBC Capital Mkts Sector Perform to Underperform
2008-08-05 Reiterated Stifel Nicolaus Buy $16 to $13
2008-08-05 Reiterated Friedman Billings Mkt Perform $12 to $10
2008-06-02 Reiterated Friedman Billings Mkt Perform $14 to $12
2008-05-20 Upgrade Piper Jaffray Neutral to Buy $13
2016-07-04 Reiterated Rating B. Riley Buy $17.00
2016-06-29 Reiterated Rating B. Riley Buy $17.00
2016-05-13 Reiterated Rating B. Riley Buy $17.00
2016-05-10 Reiterated Rating Credit Suisse Buy
2016-05-10 Reiterated Rating Credit Suisse Group AG Buy

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
MCLAUGHLIN PAUL F Chairman and CEO 3.03%  (1006905) RTEC /
Plisinski Michael P VP & GM Data Analysis/Rev. BU 1.11%  (368951) RTEC /
RUDOLPH TECHNOLOGIES INC Executive Vice President & COO 0.49%  (163804) RTEC /
GREIG THOMAS G 0.40%  (134000) BBOX / RTEC /
ROTH STEVEN R Senior Vice President & CFO 0.22%  (73648) RTEC /
SPANIER RICHARD F 0.21%  (70393) RTEC /
LITTLE NATHAN H Executive VP & GM Lithography 0.19%  (62311) RTEC /
KOCH ROBERT ALAN VP & General Counsel 0.18%  (59696) RTEC /
Colgan Michael J. VP & GM of the Metrology BU 0.12%  (40188) RTEC /
Goodrich Michael F. VP of Global Customer Support 0.11%  (36533) RTEC /
Rogoff Richard B. VP & GM of Lithography Systems 0.11%  (36456) RTEC /
WHITTEN JOHN R 0.10%  (34200) RTEC /
da Silveira Elvino M VP&GM Display Product BU & CTO 0.10%  (33987) RTEC /
TOBEY AUBREY C 0.10%  (32900) RTEC /
Gardner Steven D. VP of Eng, Lithography Systems 0.08%  (27314) RTEC /
Roy Rajiv VP Business Development 0.08%  (26903) RTEC /
Chan Chun Hoy VP Asia Field Operations 0.07%  (24449) RTEC /
JOHNSON ARDELLE R VP, Corporate Marketing 0.07%  (23976) RTEC /
Nelson Jeffrey T VP Manufacturing Inspection BU 0.07%  (23073) RTEC /
Aukerman Jeffrey A. 0.07%  (22346) RTEC /
BROOKS D MAYSON Sr.VP&GM Advanced Packaging BU 0.06%  (21557) RTEC /
BERRY DANIEL H 0.06%  (21000) RTEC /
BERLINGHIERI LEO 0.06%  (20100) MKSI / RTEC /
SONDERMAN THOMAS VP, OEM Business Development 0.06%  (20099) RTEC /
MILLER DAVID BRIAN 0.05%  (18200) RTEC /
DICROSTA ROBERT VP of Strategic Initiatives 0.05%  (16939) RTEC /
Vaillant Peter VP of Manufacturing Operations 0.05%  (16793) RTEC /
Wilson Matthew VP Global CS Support 0.05%  (16258) RTEC /
DANCIAK SCOTT R VP, Engineering Inspection BU 0.05%  (15708) RTEC /
Walker Timothy J. VP of Manufacturing for PCG 0.03%  (11096) RTEC /
Ahlgren Debbora VP Global Customer Operations 0.02%  (7341) CSCD / RTEC /
Chow Tse-Ching VP, Advanced Packaging 0.01%  (3856) RTEC /
Nazzaro Anthony J JR VP Worldwide Customer Support 0.01%  (3780) RTEC /
Jost Michael B. VP & GM of Inspection BU 0.01%  (3000) MTSC / RTEC /