Ultra Clean Holdings, Inc. (NASDAQ:UCTT) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, October 24th.
According to Zacks, “ULTRA CLEAN HOLDINGS, INC. is a developer and supplier of critical subsystems for the semiconductor capital equipment, flat panel, solar and medical device industries. Ultra Clean offers its customers an integrated outsourced solution for gas delivery systems and other subassemblies, improved design-to-delivery cycle times, component neutral design and manufacturing and component testing capabilities. Ultra Clean’s customers are primarily original equipment manufacturers for the semiconductor capital equipment, flat panel, solar and medical device industries. Ultra Clean is headquartered in Menlo Park, California. “
UCTT has been the subject of a number of other research reports. Stifel Nicolaus increased their price target on shares of Ultra Clean Holdings from $18.00 to $20.00 and gave the company a “hold” rating in a report on Monday, July 10th. BidaskClub downgraded shares of Ultra Clean Holdings from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Cowen and Company set a $26.00 target price on shares of Ultra Clean Holdings and gave the company a “hold” rating in a report on Friday, July 28th. Dougherty & Co raised their target price on shares of Ultra Clean Holdings from $29.50 to $32.00 and gave the company a “buy” rating in a report on Friday, July 28th. Finally, Needham & Company LLC raised their target price on shares of Ultra Clean Holdings from $30.00 to $36.00 and gave the company a “strong-buy” rating in a report on Friday, October 13th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $30.67.
Shares of Ultra Clean Holdings (NASDAQ:UCTT) opened at $23.48 on Tuesday. The company has a quick ratio of 1.18, a current ratio of 2.06 and a debt-to-equity ratio of 0.15. The company has a market cap of $789.56, a price-to-earnings ratio of 11.34, a PEG ratio of 0.67 and a beta of 1.11. Ultra Clean Holdings has a 52 week low of $8.81 and a 52 week high of $34.59.
Ultra Clean Holdings (NASDAQ:UCTT) last announced its quarterly earnings results on Wednesday, October 25th. The semiconductor company reported $0.62 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.02). The company had revenue of $242.60 million during the quarter, compared to analysts’ expectations of $239.11 million. Ultra Clean Holdings had a net margin of 7.55% and a return on equity of 28.77%. The business’s revenue for the quarter was up 65.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.17 EPS. equities research analysts expect that Ultra Clean Holdings will post 2.34 earnings per share for the current fiscal year.
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In other Ultra Clean Holdings news, SVP Ronald D’ercole sold 1,457 shares of the firm’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $30.47, for a total transaction of $44,394.79. Following the sale, the senior vice president now directly owns 69,233 shares of the company’s stock, valued at approximately $2,109,529.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP David Speirs sold 19,029 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $24.04, for a total transaction of $457,457.16. Following the completion of the sale, the senior vice president now directly owns 100,879 shares in the company, valued at $2,425,131.16. The disclosure for this sale can be found here. Insiders have sold a total of 49,560 shares of company stock worth $1,309,311 over the last ninety days. 2.60% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in UCTT. Wells Fargo & Company MN boosted its position in shares of Ultra Clean Holdings by 42.4% in the first quarter. Wells Fargo & Company MN now owns 64,881 shares of the semiconductor company’s stock worth $1,094,000 after acquiring an additional 19,326 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in Ultra Clean Holdings by 0.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 12,618 shares of the semiconductor company’s stock valued at $213,000 after buying an additional 69 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Ultra Clean Holdings by 51.3% during the first quarter. Bank of New York Mellon Corp now owns 248,065 shares of the semiconductor company’s stock valued at $4,184,000 after buying an additional 84,153 shares in the last quarter. Ameriprise Financial Inc. acquired a new position in Ultra Clean Holdings during the first quarter valued at approximately $1,933,000. Finally, Parametric Portfolio Associates LLC lifted its position in Ultra Clean Holdings by 87.3% during the first quarter. Parametric Portfolio Associates LLC now owns 95,622 shares of the semiconductor company’s stock valued at $1,613,000 after buying an additional 44,573 shares in the last quarter. 76.33% of the stock is currently owned by institutional investors and hedge funds.
Ultra Clean Holdings Company Profile
Ultra Clean Holdings, Inc is engaged in the design, engineering and manufacture of production tools, modules and subsystems the semiconductor capital equipment industry. The Company’s products include precision robotic solutions; gas delivery systems; a range of industrial and automation production equipment products; subsystems that includes wafer cleaning sub-systems, chemical delivery modules, top-plate assemblies, frame assemblies, and process modules.
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