Ultra Clean (NASDAQ:UCTT) Given New $44.00 Price Target at Needham & Company LLC

Ultra Clean (NASDAQ:UCTT) had its price target decreased by Needham & Company LLC from $50.00 to $44.00 in a report issued on Tuesday, Marketbeat Ratings reports. Needham & Company LLC currently has a buy rating on the semiconductor company’s stock.

Several other research analysts have also issued reports on the stock. Oppenheimer began coverage on shares of Ultra Clean in a report on Wednesday, September 25th. They set an “outperform” rating and a $70.00 price target for the company. TD Cowen lifted their price objective on shares of Ultra Clean from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Craig Hallum lifted their price objective on shares of Ultra Clean from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Ultra Clean has a consensus rating of “Buy” and an average target price of $57.75.

Ultra Clean Trading Up 2.6 %

UCTT opened at $34.33 on Tuesday. The company’s 50 day moving average is $36.45 and its 200-day moving average is $41.92. The company has a market cap of $1.55 billion, a P/E ratio of 427.63 and a beta of 2.08. Ultra Clean has a 1-year low of $24.39 and a 1-year high of $56.47. The company has a current ratio of 2.75, a quick ratio of 1.60 and a debt-to-equity ratio of 0.52.

Ultra Clean (NASDAQ:UCTT) last issued its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The business had revenue of $540.40 million during the quarter, compared to analyst estimates of $515.88 million. Ultra Clean had a net margin of 0.18% and a return on equity of 4.08%. The firm’s quarterly revenue was up 24.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.03) EPS. Equities research analysts predict that Ultra Clean will post 1.09 earnings per share for the current fiscal year.

Institutional Trading of Ultra Clean

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Ultra Clean by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 4,360,555 shares of the semiconductor company’s stock valued at $148,869,000 after purchasing an additional 148,819 shares during the period. Swedbank AB purchased a new position in Ultra Clean during the 1st quarter worth $111,828,000. Vaughan Nelson Investment Management L.P. boosted its holdings in Ultra Clean by 6.4% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 860,798 shares of the semiconductor company’s stock worth $42,179,000 after acquiring an additional 52,075 shares during the last quarter. Pinnacle Associates Ltd. boosted its holdings in Ultra Clean by 2.1% during the 3rd quarter. Pinnacle Associates Ltd. now owns 420,709 shares of the semiconductor company’s stock worth $16,799,000 after acquiring an additional 8,471 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its holdings in Ultra Clean by 130.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 367,212 shares of the semiconductor company’s stock worth $14,663,000 after acquiring an additional 207,633 shares during the last quarter. Institutional investors and hedge funds own 96.06% of the company’s stock.

Ultra Clean Company Profile

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.