Ultra Clean (NASDAQ:UCTT) Price Target Lowered to $40.00 at Needham & Company LLC

Ultra Clean (NASDAQ:UCTT) had its price objective dropped by Needham & Company LLC from $44.00 to $40.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price target points to a potential upside of 10.93% from the company’s current price.

Separately, TD Cowen reduced their price objective on shares of Ultra Clean from $60.00 to $57.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th.

Ultra Clean Price Performance

Shares of UCTT opened at $36.06 on Tuesday. The company has a current ratio of 2.75, a quick ratio of 1.63 and a debt-to-equity ratio of 0.52. The stock’s 50 day moving average is $37.14 and its two-hundred day moving average is $36.94. Ultra Clean has a twelve month low of $32.08 and a twelve month high of $56.47. The firm has a market capitalization of $1.63 billion, a PE ratio of 450.81, a P/E/G ratio of 0.51 and a beta of 2.09.

Ultra Clean (NASDAQ:UCTT) last announced its quarterly earnings data on Monday, February 24th. The semiconductor company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.03). Ultra Clean had a return on equity of 4.08% and a net margin of 0.18%. Research analysts anticipate that Ultra Clean will post 1.09 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Headlands Technologies LLC acquired a new position in Ultra Clean during the fourth quarter worth about $26,000. Signaturefd LLC raised its position in shares of Ultra Clean by 465.5% during the 3rd quarter. Signaturefd LLC now owns 803 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 661 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Ultra Clean in the 3rd quarter valued at approximately $32,000. Nisa Investment Advisors LLC grew its holdings in Ultra Clean by 107.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 948 shares of the semiconductor company’s stock valued at $34,000 after buying an additional 490 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in Ultra Clean by 694.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 977 shares of the semiconductor company’s stock worth $35,000 after buying an additional 854 shares in the last quarter. Institutional investors and hedge funds own 96.06% of the company’s stock.

About Ultra Clean

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.