TD Cowen Raises Ultra Clean (NASDAQ:UCTT) Price Target to $60.00

Ultra Clean (NASDAQ:UCTT) had its price target increased by equities researchers at TD Cowen from $55.00 to $60.00 in a report issued on Friday, StockNewsAPI reports. The firm currently has a “buy” rating on the semiconductor company’s stock. TD Cowen’s price target points to a potential upside of 32.95% from the stock’s previous close.

Separately, Needham & Company LLC restated a “buy” rating and issued a $56.00 price objective on shares of Ultra Clean in a report on Friday. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $58.67.

Ultra Clean Stock Down 1.8 %

NASDAQ:UCTT opened at $45.13 on Friday. The company has a current ratio of 2.76, a quick ratio of 1.58 and a debt-to-equity ratio of 0.52. The stock has a fifty day simple moving average of $48.54 and a 200-day simple moving average of $44.23. The company has a market cap of $2.02 billion, a price-to-earnings ratio of -55.04 and a beta of 2.13. Ultra Clean has a twelve month low of $22.15 and a twelve month high of $56.47.

Ultra Clean (NASDAQ:UCTT) last released its quarterly earnings data on Monday, May 6th. The semiconductor company reported $0.20 earnings per share for the quarter. The firm had revenue of $477.70 million during the quarter, compared to the consensus estimate 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, CFO Sheri Savage sold 897 shares of Ultra Clean stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $55.87, for a total value of $50,115.39. Following the transaction, the chief financial officer now owns 51,678 shares in the company, valued at $2,887,249.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Ultra Clean news, CFO Sheri Savage sold 897 shares of Ultra Clean stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $55.87, for a total value of $50,115.39. Following the transaction, the chief financial officer now owns 51,678 shares in the company, valued at $2,887,249.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Clarence L. Granger sold 5,000 shares of Ultra Clean stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $43.50, for a total value of $217,500.00. Following the completion of the transaction, the director now owns 92,134 shares in the company, valued at approximately $4,007,829. The disclosure for this sale can be found here. Insiders have sold 110,314 shares of company stock worth $5,370,214 over the last quarter. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Ultra Clean

Large investors have recently modified their holdings of the business. GAMMA Investing LLC grew its stake in shares of Ultra Clean by 52.1% during the second quarter. GAMMA Investing LLC now owns 622 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 213 shares during the last quarter. CWM LLC grew its stake in shares of Ultra Clean by 46.3% during the second quarter. CWM LLC now owns 800 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 253 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Ultra Clean during the fourth quarter worth about $59,000. TFO Wealth Partners LLC grew its stake in shares of Ultra Clean by 27,160.0% during the fourth quarter. TFO Wealth Partners LLC now owns 2,726 shares of the semiconductor company’s stock worth $93,000 after acquiring an additional 2,716 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Ultra Clean during the first quarter worth about $96,000. Hedge funds and other institutional investors 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.