Ultra Clean (NASDAQ:UCTT) Price Target Increased to $30.00 by Analysts at Needham & Company LLC

Share on StockTwits

Ultra Clean (NASDAQ:UCTT) had its price target upped by Needham & Company LLC from $27.00 to $30.00 in a research note issued to investors on Thursday, BenzingaRatingsTable reports. Needham & Company LLC currently has a buy rating on the semiconductor company’s stock.

A number of other research analysts have also recently commented on the company. ValuEngine upgraded Ultra Clean from a sell rating to a hold rating in a research note on Tuesday, February 4th. Craig Hallum raised their target price on Ultra Clean from $22.50 to $30.00 and gave the company a positive rating in a research note on Tuesday. Cowen raised their target price on Ultra Clean from $22.00 to $25.00 and gave the company a market perform rating in a research note on Thursday. Zacks Investment Research cut Ultra Clean from a strong-buy rating to a hold rating in a research note on Friday, January 24th. Finally, Standpoint Research cut Ultra Clean from a buy rating to a hold rating in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $25.42.

Shares of UCTT traded down $2.34 on Thursday, reaching $23.75. The stock had a trading volume of 895,345 shares, compared to its average volume of 482,060. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of -98.96, a price-to-earnings-growth ratio of 1.20 and a beta of 1.20. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.78 and a current ratio of 2.72. The company has a 50-day simple moving average of $24.10 and a 200-day simple moving average of $19.39. Ultra Clean has a 12-month low of $9.60 and a 12-month high of $30.00.

Ultra Clean (NASDAQ:UCTT) last released its earnings results on Wednesday, February 19th. The semiconductor company reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.08. The company had revenue of $286.40 million during the quarter, compared to analysts’ expectations of $272.24 million. Ultra Clean had a positive return on equity of 8.37% and a negative net margin of 0.88%. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 EPS. On average, analysts expect that Ultra Clean will post 1.56 EPS for the current fiscal year.

In related news, insider William Joe Williams sold 17,650 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $22.73, for a total transaction of $401,184.50. Following the completion of the transaction, the insider now owns 56,873 shares of the company’s stock, valued at approximately $1,292,723.29. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.80% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC increased its position in Ultra Clean by 2,260.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,620 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 2,509 shares in the last quarter. NumerixS Investment Technologies Inc bought a new position in Ultra Clean during the 4th quarter valued at approximately $59,000. Meeder Asset Management Inc. increased its position in Ultra Clean by 580.5% during the 4th quarter. Meeder Asset Management Inc. now owns 2,688 shares of the semiconductor company’s stock valued at $63,000 after buying an additional 2,293 shares in the last quarter. Hancock Whitney Corp bought a new position in Ultra Clean during the 3rd quarter valued at approximately $154,000. Finally, Virtu Financial LLC bought a new position in Ultra Clean during the 3rd quarter valued at approximately $164,000. 82.91% of the stock is owned by institutional investors.

Ultra Clean Company Profile

Ultra Clean Holdings, Inc designs, develops, prototypes, engineers, manufactures, and tests production tools, modules, and subsystems for the semiconductor and display capital equipment industries primarily in North America, Asia, and Europe. It offers precision robotic systems that are used when accurate controlled motion is required; gas delivery systems, which include one or more gas lines consisting of small diameter internally polished stainless steel tubing products, filters, mass flow controllers, regulators, pressure transducers and valves, component heaters, and an integrated electronic and/or pneumatic control system; and various industrial and automation production equipment products.

Featured Article: How can you know how many shares are floating?

Analyst Recommendations for Ultra Clean (NASDAQ:UCTT)

Receive News & Ratings for Ultra Clean Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ultra Clean and related companies with MarketBeat.com's FREE daily email newsletter.