A new and useful rotatable sputter magnetron assembly is provided, that addresses the issue of uneven wear of the target electrode tube. According to the principles of the present invention, a rotatable sputter magnetron assembly for use in magnetron sputtering target material onto a substrate comprises a. a longitudinally extending tubular shaped target electrode tube having a longitudinal central axis, b. the target electrode tube extending about a magnet bar that is configured to generate a plasma confining magnetic field adjacent the target electrode tube, c. the magnet bar being held substantially stationary within the target electrode tube, and d. the target electrode tube supported for rotation about its longitudinal central axis and for axial movement along its longitudinal central axis, so that wear of the target electrode tube can be controlled by moving the target electrode tube axially during magnetron sputtering of the target material.