Ultra Clean (NASDAQ:UCTT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday, December 20th. The brokerage presently has a $25.00 price target on the semiconductor company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 7.67% from the company’s current price.
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. “
Several other brokerages have also commented on UCTT. Dougherty & Co raised their price objective on Ultra Clean from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, October 24th. Needham & Company LLC lowered their price objective on Ultra Clean from $36.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, October 26th. ValuEngine lowered Ultra Clean from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 13th. Stifel Nicolaus raised Ultra Clean from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research report on Monday, December 4th. Finally, Cowen lifted their price target on Ultra Clean from $28.00 to $32.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 18th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Ultra Clean currently has a consensus rating of “Buy” and a consensus target price of $31.50.
Shares of Ultra Clean (UCTT) traded up $0.47 during trading on Wednesday, hitting $23.22. 827,945 shares of the stock traded hands, compared to its average volume of 1,380,000. The company has a market capitalization of $780.83, a PE ratio of 12.35, a price-to-earnings-growth ratio of 0.60 and a beta of 1.02. Ultra Clean has a 1 year low of $11.86 and a 1 year high of $34.59. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.06 and a quick ratio of 1.09.
Ultra Clean (NASDAQ:UCTT) last released its quarterly earnings results on Wednesday, October 25th. The semiconductor company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.02). The company had revenue of $242.60 million during the quarter, compared to the consensus estimate of $239.11 million. Ultra Clean had a net margin of 7.55% and a return on equity of 28.77%. The business’s revenue was up 65.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.17 EPS. analysts forecast that Ultra Clean will post 2.34 earnings per share for the current year.
In other Ultra Clean news, SVP Ronald D’ercole sold 5,202 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $24.49, for a total transaction of $127,396.98. Following the completion of the sale, the senior vice president now directly owns 60,900 shares in the company, valued at approximately $1,491,441. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Deborah E. Hayward sold 13,872 shares of the business’s stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $32.48, for a total value of $450,562.56. Following the sale, the insider now owns 61,702 shares of the company’s stock, valued at $2,004,080.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,785 shares of company stock valued at $1,037,188. Corporate insiders own 2.60% of the company’s stock.
Large investors have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in Ultra Clean in the 3rd quarter worth approximately $120,000. Legal & General Group Plc boosted its stake in Ultra Clean by 4.2% in the 2nd 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 during the period. Pacad Investment Ltd. bought a new position in Ultra Clean in the 2nd quarter worth approximately $173,000. Greenwood Capital Associates LLC bought a new position in Ultra Clean in the 3rd quarter worth approximately $226,000. Finally, Principal Financial Group Inc. bought a new position in Ultra Clean in the 2nd quarter worth approximately $228,000. Institutional investors own 75.48% 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.
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