Craig Hallum Cuts Ultra Clean (UCTT) Price Target to $15.00

Ultra Clean (NASDAQ:UCTT) had its target price decreased by Craig Hallum from $24.00 to $15.00 in a research note issued to investors on Wednesday morning, The Fly reports. Craig Hallum currently has a buy rating on the semiconductor company’s stock.

UCTT has been the topic of several other reports. Zacks Investment Research raised shares of Ultra Clean from a strong sell rating to a hold rating in a report on Friday, October 5th. BidaskClub lowered shares of Ultra Clean from a hold rating to a sell rating in a report on Friday, September 28th. Cowen decreased their target price on shares of Ultra Clean from $28.00 to $23.00 and set an outperform rating on the stock in a report on Tuesday, September 18th. Standpoint Research raised shares of Ultra Clean from a hold rating to a buy rating in a report on Tuesday, August 28th. Finally, TheStreet lowered shares of Ultra Clean from a b- rating to a c+ rating in a report on Tuesday, October 9th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $23.20.

UCTT stock traded down $0.49 during mid-day trading on Wednesday, hitting $9.49. The stock had a trading volume of 1,194,238 shares, compared to its average volume of 754,553. The company has a quick ratio of 1.35, a current ratio of 2.76 and a debt-to-equity ratio of 0.74. Ultra Clean has a 52 week low of $9.17 and a 52 week high of $27.20. The firm has a market cap of $400.84 million, a P/E ratio of 4.83, a P/E/G ratio of 0.39 and a beta of 0.76.

Ultra Clean (NASDAQ:UCTT) last released its earnings results on Tuesday, November 6th. The semiconductor company reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. Ultra Clean had a net margin of 5.38% and a return on equity of 19.76%. The firm had revenue of $234.08 million for the quarter, compared to analyst estimates of $224.06 million. During the same period last year, the firm earned $0.62 EPS. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. Equities analysts predict that Ultra Clean will post 1.85 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of Ultra Clean by 2.3% in the 3rd quarter. BlackRock Inc. now owns 5,699,153 shares of the semiconductor company’s stock valued at $71,524,000 after purchasing an additional 129,142 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Ultra Clean by 16.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,745,093 shares of the semiconductor company’s stock valued at $45,568,000 after purchasing an additional 386,908 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its stake in shares of Ultra Clean by 16.9% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 1,520,000 shares of the semiconductor company’s stock valued at $25,232,000 after purchasing an additional 220,000 shares in the last quarter. Paradigm Capital Management Inc. NY boosted its stake in shares of Ultra Clean by 93.2% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,189,200 shares of the semiconductor company’s stock valued at $19,741,000 after purchasing an additional 573,746 shares in the last quarter. Finally, Smith Graham & Co. Investment Advisors LP boosted its stake in shares of Ultra Clean by 8.9% in the 3rd quarter. Smith Graham & Co. Investment Advisors LP now owns 1,150,122 shares of the semiconductor company’s stock valued at $14,434,000 after purchasing an additional 93,670 shares in the last quarter. Institutional investors own 82.88% of the company’s stock.

Ultra Clean Company Profile

Ultra Clean Holdings, Inc designs, develops, prototypes, engineers, manufactures, and tests production tools, modules, and subsystems for the semiconductor and display capital equipment industries primarily in North America, Asia, and Europe. It offers precision robotic systems that are used when accurate controlled motion is required; gas delivery systems, which include one or more gas lines consisting of small diameter internally polished stainless steel tubing products, filters, mass flow controllers, regulators, pressure transducers and valves, component heaters, and an integrated electronic and/or pneumatic control system; and various industrial and automation production equipment products.

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