Ultra Clean (UCTT) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Ultra Clean (NASDAQ:UCTT) from a buy rating to a hold rating in a research report report published on Saturday, January 6th. Zacks Investment Research currently has $27.00 price target on the semiconductor company’s stock.

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 research analysts have also commented on UCTT. Dougherty & Co lifted their price objective on shares of Ultra Clean from $32.00 to $35.00 and gave the stock a buy rating in a research note on Tuesday, October 24th. Needham & Company LLC decreased their target price 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 downgraded Ultra Clean from a strong-buy rating to a buy rating in a research report on Friday, October 13th. Stifel Nicolaus upgraded Ultra Clean from a hold rating to a buy rating and set a $27.00 target price for the company in a research report on Monday, December 4th. Finally, Cowen lifted their price objective on Ultra Clean from $28.00 to $32.00 and gave the company an outperform rating in a report on Wednesday, October 18th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Ultra Clean currently has a consensus rating of Buy and a consensus price target of $31.50.

Shares of Ultra Clean (NASDAQ UCTT) opened at $23.22 on Friday. 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 has a fifty-two week low of $11.74 and a fifty-two week high of $34.59. The stock has a market cap of $765.02, a P/E ratio of 12.35, a price-to-earnings-growth ratio of 0.60 and a beta of 1.02.

Ultra Clean (NASDAQ:UCTT) last posted its earnings results on Wednesday, October 25th. The semiconductor company reported $0.62 earnings per share 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 analysts’ expectations of $239.11 million. During the same period last year, the business posted $0.17 earnings per share. The company’s revenue for the quarter was up 65.9% compared to the same quarter last year. equities research analysts anticipate that Ultra Clean will post 2.34 earnings per share for the current year.

In other news, insider Deborah E. Hayward sold 13,872 shares of the business’s stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $32.48, for a total transaction of $450,562.56. Following the sale, the insider now owns 61,702 shares in the company, valued at $2,004,080.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Ronald D’ercole sold 3,009 shares of the business’s stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $21.41, for a total value of $64,422.69. Following the sale, the senior vice president now owns 58,909 shares in the company, valued at approximately $1,261,241.69. The disclosure for this sale can be found here. Insiders sold 39,785 shares of company stock valued at $1,037,188 over the last quarter. 2.60% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in Ultra Clean in the third quarter valued at approximately $120,000. Legal & General Group Plc boosted its position in Ultra Clean by 4.2% in the second quarter. Legal & General Group Plc now owns 7,824 shares of the semiconductor company’s stock valued at $146,000 after buying an additional 314 shares during the last quarter. Pacad Investment Ltd. purchased a new stake in Ultra Clean in the second quarter valued at approximately $173,000. Greenwood Capital Associates LLC purchased a new stake in Ultra Clean in the third quarter valued at approximately $226,000. Finally, Principal Financial Group Inc. purchased a new stake in Ultra Clean in the second quarter valued at approximately $228,000. Hedge funds and other institutional investors own 75.48% of the company’s stock.

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About Ultra Clean

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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