Ultratech Shares in the Spotlight

According to a 13G filed with the SEC, Adage Capital Management owns 1.2 million shares of Ultratech (NASDAQ:UTEK), a manufacturer of equipment and tools used by semiconductor manufacturers. Ultratech has a market capitalization of about $800 million (on average over 300,000 shares are traded per day).

The current stock price is about $30, making for plenty of daily dollar volume. Adage now owns 4.6% of the total shares outstanding, suggesting that the fund might actually have built up a larger position -- large enough to cross the 5% threshold -- and has since sold a portion of its stake. The fund's 13F filing for the end of December 2012 showed that it then owned about 880,000 shares, after having nearly tripled the size of its position during the fourth quarter of the year....474 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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