TD Cowen Raises Ultra Clean (NASDAQ:UCTT) Price Target to $60.00

Ultra Clean (NASDAQ:UCTT) had its target price lifted by TD Cowen from $55.00 to $60.00 in a research note issued to investors on Friday, StockNewsAPI reports. The firm presently has a “buy” rating on the semiconductor company’s stock. TD Cowen’s price target suggests a potential upside of 32.95% from the company’s previous close.

Separately, Needham & Company LLC reissued a “buy” rating and set a $56.00 price objective on shares of Ultra Clean in a research note on Friday. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Ultra Clean currently has an average rating of “Moderate Buy” and an average price target of $58.67.

Ultra Clean Stock Down 1.8 %

UCTT opened at $45.13 on Friday. Ultra Clean has a 12 month low of $22.15 and a 12 month high of $56.47. The stock has a market cap of $2.02 billion, a P/E ratio of -55.04 and a beta of 2.13. The stock’s 50 day moving average price is $48.54 and its 200 day moving average price is $44.23. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.76 and a quick ratio of 1.58.

Ultra Clean (NASDAQ:UCTT) last issued its quarterly earnings results on Monday, May 6th. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter. Ultra Clean had a positive return on equity of 2.19% and a negative net margin of 2.09%. The company had revenue of $477.70 million for the quarter, compared to analysts’ expectations of $455.00 million.

Insider Transactions at Ultra Clean

In other news, CEO James P. Scholhamer sold 26,608 shares of the firm’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $55.10, for a total value of $1,466,100.80. Following the completion of the sale, the chief executive officer now owns 418,453 shares of the company’s stock, valued at $23,056,760.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO James P. Scholhamer sold 26,608 shares of the firm’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $55.10, for a total value of $1,466,100.80. Following the completion of the sale, the chief executive officer now owns 418,453 shares of the company’s stock, valued at $23,056,760.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Sheri Savage sold 897 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $55.87, for a total value of $50,115.39. Following the completion of the sale, the chief financial officer now directly owns 51,678 shares of the company’s stock, valued at approximately $2,887,249.86. The disclosure for this sale can be found here. Insiders sold a total of 110,314 shares of company stock valued at $5,370,214 in the last three months. 2.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Ultra Clean

A number of institutional investors have recently bought and sold shares of the company. Louisiana State Employees Retirement System boosted its position in Ultra Clean by 1.8% during the second quarter. Louisiana State Employees Retirement System now owns 22,600 shares of the semiconductor company’s stock valued at $1,107,000 after purchasing an additional 400 shares during the last quarter. SummerHaven Investment Management LLC boosted its position in Ultra Clean by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 19,993 shares of the semiconductor company’s stock valued at $980,000 after purchasing an additional 331 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new stake in Ultra Clean during the second quarter valued at $148,000. Vaughan Nelson Investment Management L.P. boosted its position in Ultra Clean by 6.4% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 860,798 shares of the semiconductor company’s stock valued at $42,179,000 after purchasing an additional 52,075 shares during the last quarter. Finally, CWM LLC boosted its position in Ultra Clean by 46.3% during the second quarter. CWM LLC now owns 800 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 253 shares during the last quarter. Institutional investors and hedge funds own 96.06% of the company’s stock.

About Ultra Clean

Ultra Clean Holdings, Inc develops and supplies critical subsystems, components and parts, and ultra-high purity cleaning and analytical services for the semiconductor industry in the United States and internationally. The company provides ultra-clean valves, high purity connectors, industrial process connectors and valves, pneumatic actuators, manifolds and safety solutions, hoses, pressure gauges, and gas line and component heaters; chemical delivery modules that deliver gases and reactive chemicals in a liquid or gaseous form from a centralized subsystem to the reaction chamber; and gas delivery systems, such as weldments, filters, mass flow controllers, regulators, pressure transducers and valves, component heaters, and an integrated electronic and/or pneumatic control system.