Ultra Clean (NASDAQ:UCTT) Raised to Buy at Stifel Nicolaus

Ultra Clean (NASDAQ:UCTT) was upgraded by stock analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a note issued to investors on Monday, December 4th, MarketBeat reports. The firm presently has a $27.00 price objective on the semiconductor company’s stock. Stifel Nicolaus’ price target points to a potential upside of 30.00% from the stock’s current price.

Several other research firms have also weighed in on UCTT. Dougherty & Co lifted their price objective on shares of Ultra Clean from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, October 24th. Needham & Company LLC lowered their price objective on shares of Ultra Clean from $36.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, October 26th. Cowen lifted their price target on shares of Ultra Clean from $28.00 to $32.00 and gave the company an “outperform” rating in a research report on Wednesday, October 18th. Zacks Investment Research downgraded shares of Ultra Clean from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 24th. Finally, ValuEngine downgraded shares of Ultra Clean from a “strong-buy” rating to a “buy” rating in a report on Friday, October 13th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $31.83.

Shares of Ultra Clean (NASDAQ:UCTT) traded up $0.55 during midday trading on Monday, reaching $20.77. 838,800 shares of the company were exchanged, compared to its average volume of 1,003,570. The company has a market cap of $698.44, a price-to-earnings ratio of 9.77, a PEG ratio of 0.58 and a beta of 1.02. Ultra Clean has a 1-year low of $9.42 and a 1-year high of $34.59. The company has a current ratio of 2.06, a quick ratio of 1.09 and a debt-to-equity ratio of 0.15.

Ultra Clean (NASDAQ:UCTT) last issued its quarterly earnings data on Wednesday, October 25th. The semiconductor company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.02). Ultra Clean had a net margin of 7.55% and a return on equity of 28.77%. The business had revenue of $242.60 million during the quarter, compared to the consensus estimate of $239.11 million. During the same quarter last year, the business earned $0.17 EPS. The firm’s quarterly revenue was up 65.9% compared to the same quarter last year. analysts predict that Ultra Clean will post 2.34 EPS for the current year.

In other news, SVP Joan Sterling sold 5,202 shares of the company’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $24.04, for a total transaction of $125,056.08. Following the sale, the senior vice president now directly owns 64,932 shares in the company, valued at $1,560,965.28. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Ronald D’ercole sold 1,457 shares of the company’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $30.47, for a total value of $44,394.79. Following the sale, the senior vice president now owns 69,233 shares in the company, valued at $2,109,529.51. The disclosure for this sale can be found here. Insiders sold a total of 25,733 shares of company stock worth $747,410 over the last 90 days. 2.60% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Legal & General Group Plc grew its holdings in shares of Ultra Clean by 4.2% during the second quarter. Legal & General Group Plc now owns 7,824 shares of the semiconductor company’s stock worth $146,000 after purchasing an additional 314 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Ultra Clean by 1.7% during the second quarter. The Manufacturers Life Insurance Company now owns 26,505 shares of the semiconductor company’s stock worth $496,000 after purchasing an additional 454 shares in the last quarter. California Public Employees Retirement System grew its holdings in shares of Ultra Clean by 1.3% during the second quarter. California Public Employees Retirement System now owns 105,800 shares of the semiconductor company’s stock worth $1,984,000 after purchasing an additional 1,400 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Ultra Clean by 1.6% during the second quarter. Goldman Sachs Group Inc. now owns 102,131 shares of the semiconductor company’s stock worth $1,915,000 after purchasing an additional 1,618 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY grew its holdings in shares of Ultra Clean by 1.1% during the second quarter. Paradigm Capital Management Inc. NY now owns 252,115 shares of the semiconductor company’s stock worth $4,727,000 after purchasing an additional 2,815 shares in the last quarter. Hedge funds and other institutional investors own 75.74% of the company’s stock.

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Ultra Clean 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.

Analyst Recommendations for Ultra Clean (NASDAQ:UCTT)

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