Ultra Clean (NASDAQ:UCTT) Stock Rating Reaffirmed by Needham & Company LLC

Ultra Clean (NASDAQ:UCTT)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a note issued to investors on Friday, Benzinga reports. They currently have a $56.00 price target on the semiconductor company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 24.09% from the stock’s previous close.

Separately, TD Cowen lifted their price target on shares of Ultra Clean from $47.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Ultra Clean presently has an average rating of “Moderate Buy” and a consensus price target of $57.00.

Ultra Clean Stock Down 1.8 %

Shares of Ultra Clean stock opened at $45.13 on Friday. The stock’s 50-day moving average is $48.54 and its 200 day moving average is $44.23. Ultra Clean has a one year low of $22.15 and a one year high of $56.47. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of -55.04 and a beta of 2.13. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.76 and a quick ratio of 1.58.

Ultra Clean (NASDAQ:UCTT) last posted its quarterly earnings results on Monday, May 6th. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter. The firm had revenue of $477.70 million for the quarter, compared to analysts’ expectations of $455.00 million. Ultra Clean had a positive return on equity of 2.19% and a negative net margin of 2.09%.

Insider Buying and Selling at Ultra Clean

In other Ultra Clean news, CAO Brian E. Harding sold 11,000 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $43.89, for a total value of $482,790.00. Following the transaction, the chief accounting officer now directly owns 37,415 shares of the company’s stock, valued at $1,642,144.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Ultra Clean news, CAO Brian E. Harding sold 11,000 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $43.89, for a total transaction of $482,790.00. Following the completion of the sale, the chief accounting officer now directly owns 37,415 shares of the company’s stock, valued at approximately $1,642,144.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sheri Savage sold 897 shares of the stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $55.87, for a total value of $50,115.39. Following the completion of the sale, the chief financial officer now directly owns 51,678 shares of the company’s stock, valued at $2,887,249.86. The disclosure for this sale can be found here. In the last 90 days, insiders sold 110,314 shares of company stock worth $5,370,214. 2.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ultra Clean

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of Ultra Clean by 52.1% in the second quarter. GAMMA Investing LLC now owns 622 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 213 shares during the last quarter. CWM LLC increased its stake in Ultra Clean by 46.3% in the 2nd quarter. CWM LLC now owns 800 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 253 shares during the last quarter. SummerHaven Investment Management LLC lifted its position in shares of Ultra Clean by 1.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 19,993 shares of the semiconductor company’s stock worth $980,000 after buying an additional 331 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Ultra Clean by 1.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 22,600 shares of the semiconductor company’s stock worth $1,107,000 after buying an additional 400 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Ultra Clean by 19.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,164 shares of the semiconductor company’s stock valued at $108,000 after acquiring an additional 514 shares in the last quarter. 96.06% of the stock is owned by hedge funds and other institutional investors.

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.