Ultra Clean (NASDAQ:UCTT) Given New $56.00 Price Target at Needham & Company LLC

Ultra Clean (NASDAQ:UCTT) had its price objective hoisted by Needham & Company LLC from $50.00 to $56.00 in a research note issued to investors on Tuesday morning, Benzinga reports. Needham & Company LLC currently has a buy rating on the semiconductor company’s stock.

Separately, TD Cowen lifted their price objective on Ultra Clean from $47.00 to $55.00 and gave the stock a buy rating in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Ultra Clean has an average rating of Moderate Buy and an average target price of $57.00.

Ultra Clean Trading Up 1.0 %

Ultra Clean stock opened at $45.04 on Tuesday. Ultra Clean has a one year low of $22.15 and a one year high of $49.25. The business’s fifty day moving average is $43.78 and its 200 day moving average is $36.65. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.88 and a quick ratio of 1.67. The stock has a market capitalization of $2.01 billion, a PE ratio of -54.37 and a beta of 2.02.

Ultra Clean (NASDAQ:UCTT) last announced its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $0.12 EPS for the quarter. Ultra Clean had a negative net margin of 1.79% and a positive return on equity of 1.69%. The firm had revenue of $444.80 million during the quarter, compared to analyst estimates of $444.99 million.

Hedge Funds Weigh In On Ultra Clean

Several institutional investors and hedge funds have recently bought and sold shares of the stock. SummerHaven Investment Management LLC boosted its stake in Ultra Clean by 1.8% in the 4th quarter. SummerHaven Investment Management LLC now owns 19,384 shares of the semiconductor company’s stock worth $662,000 after purchasing an additional 347 shares during the period. PNC Financial Services Group Inc. grew its stake in 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 worth $108,000 after purchasing an additional 514 shares in the last quarter. Texas Permanent School Fund Corp lifted its stake in Ultra Clean by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 39,236 shares of the semiconductor company’s stock worth $1,803,000 after acquiring an additional 525 shares during the period. Everence Capital Management Inc. lifted its holdings in Ultra Clean by 7.1% during the fourth quarter. Everence Capital Management Inc. now owns 7,980 shares of the semiconductor company’s stock worth $272,000 after buying an additional 530 shares during the period. Finally, Swiss National Bank grew its stake in Ultra Clean by 0.7% in the third quarter. Swiss National Bank now owns 98,200 shares of the semiconductor company’s stock valued at $2,914,000 after purchasing an additional 700 shares during the last quarter. 96.06% of the stock is currently 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.