Zacks Investment Research cut shares of Ultra Clean (NASDAQ:UCTT) from a buy rating to a hold rating in a research note published on Saturday. They currently have $30.00 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 equities research analysts have also recently issued reports on UCTT. Cowen raised shares of Ultra Clean from a market perform rating to an outperform rating and set a $32.00 price objective for the company in a research report on Thursday. Needham & Company LLC lowered their price target on shares of Ultra Clean from $36.00 to $34.00 and set a buy rating for the company in a research report on Thursday, October 26th. Stifel Nicolaus raised shares of 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. ValuEngine cut shares of Ultra Clean from a strong-buy rating to a buy rating in a research report on Friday, October 13th. Finally, Dougherty & Co upped their price target on shares of Ultra Clean from $32.00 to $35.00 and gave the stock a buy rating in a research report on Tuesday, October 24th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Ultra Clean has a consensus rating of Buy and an average target price of $32.00.
Ultra Clean (NASDAQ UCTT) traded down $0.21 during trading on Friday, reaching $26.67. 1,658,901 shares of the company’s stock traded hands, compared to its average volume of 1,406,811. The stock has a market cap of $896.83, a PE ratio of 12.88, a price-to-earnings-growth ratio of 0.70 and a beta of 1.02. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.09 and a current ratio of 2.06. Ultra Clean has a 12 month low of $11.86 and a 12 month high of $34.59.
Ultra Clean (NASDAQ:UCTT) last released its quarterly earnings data on Wednesday, October 25th. The semiconductor company reported $0.62 earnings per share (EPS) 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 analysts’ expectations of $239.11 million. Ultra Clean had a net margin of 7.55% and a return on equity of 28.77%. Ultra Clean’s quarterly revenue was up 65.9% on a year-over-year basis. During the same period last year, the firm earned $0.17 earnings per share. research analysts predict that Ultra Clean will post 2.34 earnings per share for the current year.
In related news, Director David T. Ibnale sold 12,500 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $21.58, for a total transaction of $269,750.00. Following the completion of the sale, the director now owns 63,500 shares of the company’s stock, valued at $1,370,330. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Ronald D’ercole sold 3,009 shares of the stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $21.41, for a total transaction of $64,422.69. Following the sale, the senior vice president now directly owns 58,909 shares of the company’s stock, valued at approximately $1,261,241.69. The disclosure for this sale can be found here. Insiders sold a total of 39,785 shares of company stock valued at $1,037,188 in the last ninety days. Corporate insiders own 2.60% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Ultra Clean by 32.3% during the second quarter. Vanguard Group Inc. now owns 1,636,857 shares of the semiconductor company’s stock valued at $30,691,000 after acquiring an additional 399,627 shares during the last quarter. Columbia Partners L L C Investment Management acquired a new position in Ultra Clean during the 3rd quarter valued at approximately $698,000. Alps Advisors Inc. acquired a new position in Ultra Clean during the 3rd quarter valued at approximately $600,000. Ladenburg Thalmann Financial Services Inc. increased its stake in Ultra Clean by 525.9% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 27,897 shares of the semiconductor company’s stock valued at $854,000 after purchasing an additional 23,440 shares in the last quarter. Finally, Sanctuary Wealth Advisors LLC acquired a new position in Ultra Clean during the 3rd quarter valued at approximately $3,843,000. 75.48% of the stock is owned by institutional investors.
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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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