Ultra Clean (NASDAQ:UCTT) Stock Rating Lowered by Zacks Investment Research

Ultra Clean (NASDAQ:UCTT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday, January 12th.

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. “

A number of other equities research analysts have also recently weighed in on the stock. Stifel Nicolaus upgraded shares of Ultra Clean from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Monday, December 4th. Needham & Company LLC dropped their price target on shares of Ultra Clean from $36.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, October 26th. Dougherty & Co lifted their price target on Ultra Clean from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, October 24th. Cowen lifted their price target on Ultra Clean from $28.00 to $32.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 18th. Finally, ValuEngine cut Ultra Clean from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 13th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Ultra Clean currently has a consensus rating of “Buy” and an average price target 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 were exchanged, compared to its average volume of 1,330,000. The company has a current ratio of 2.06, a quick ratio of 1.09 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $889.83, a P/E ratio of 14.19, a PEG ratio of 0.71 and a beta of 1.02. Ultra Clean has a 1 year low of $11.86 and a 1 year high of $34.59.

Ultra Clean (NASDAQ:UCTT) last posted its earnings results on Wednesday, October 25th. The semiconductor company reported $0.62 earnings per share (EPS) 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 company had revenue of $242.60 million during the quarter, compared to the consensus estimate of $239.11 million. During the same quarter in the previous year, the business posted $0.17 earnings per share. The business’s quarterly revenue was up 65.9% compared to the same quarter last year. research analysts predict that Ultra Clean will post 2.34 EPS for the current year.

In other news, insider Deborah E. Hayward sold 13,872 shares of the company’s stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $32.48, for a total transaction of $450,562.56. Following the completion of the transaction, the insider now directly owns 61,702 shares in the company, valued at $2,004,080.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David T. Ibnale sold 12,500 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $21.58, for a total value of $269,750.00. Following the transaction, the director now owns 63,500 shares of the company’s stock, valued at $1,370,330. The disclosure for this sale can be found here. In the last three months, insiders sold 39,785 shares of company stock valued at $1,037,188. 2.60% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of the company. Schwab Charles Investment Management Inc. increased its position in shares of Ultra Clean by 15.2% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 255,210 shares of the semiconductor company’s stock valued at $5,893,000 after purchasing an additional 33,740 shares during the period. Louisiana State Employees Retirement System bought a new stake in shares of Ultra Clean during the fourth quarter valued at approximately $337,000. GSA Capital Partners LLP increased its position in shares of Ultra Clean by 16.3% during the third quarter. GSA Capital Partners LLP now owns 126,320 shares of the semiconductor company’s stock valued at $3,868,000 after purchasing an additional 17,724 shares during the period. Delphi Management Inc. MA increased its position in shares of Ultra Clean by 12.1% during the third quarter. Delphi Management Inc. MA now owns 88,381 shares of the semiconductor company’s stock valued at $2,706,000 after purchasing an additional 9,545 shares during the period. Finally, Moors & Cabot Inc. bought a new stake in shares of Ultra Clean during the third quarter valued at approximately $248,000. 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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