Needham & Company LLC Has Lowered Expectations for Ultra Clean (NASDAQ:UCTT) Stock Price

Ultra Clean (NASDAQ:UCTT) had its price target reduced by Needham & Company LLC from $50.00 to $44.00 in a report issued on Tuesday, Marketbeat reports. They currently have a buy rating on the semiconductor company’s stock.

Several other research analysts also recently commented on UCTT. Oppenheimer assumed coverage on Ultra Clean in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $70.00 target price for the company. Craig Hallum raised their price objective on shares of Ultra Clean from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, TD Cowen boosted their price objective on shares of Ultra Clean from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $57.75.

Ultra Clean Trading Up 2.6 %

Shares of UCTT opened at $34.33 on Tuesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.60 and a current ratio of 2.75. The firm has a market cap of $1.55 billion, a P/E ratio of 427.63 and a beta of 2.08. Ultra Clean has a fifty-two week low of $24.39 and a fifty-two week high of $56.47. The business has a 50-day moving average of $36.45 and a 200 day moving average of $41.92.

Ultra Clean (NASDAQ:UCTT) last posted its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. The company had revenue of $540.40 million for the quarter, compared to analyst estimates of $515.88 million. Ultra Clean had a net margin of 0.18% and a return on equity of 4.08%. The company’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. As a group, research analysts forecast that Ultra Clean will post 1.09 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Swedbank AB bought a new stake in Ultra Clean in the 1st quarter worth approximately $111,828,000. Assenagon Asset Management S.A. raised its stake in shares of Ultra Clean by 454.2% during the third quarter. Assenagon Asset Management S.A. now owns 335,096 shares of the semiconductor company’s stock worth $13,380,000 after acquiring an additional 274,628 shares in the last quarter. Hood River Capital Management LLC bought a new stake in shares of Ultra Clean in the 1st quarter worth approximately $10,915,000. Harbor Capital Advisors Inc. boosted its stake in shares of Ultra Clean by 130.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 367,212 shares of the semiconductor company’s stock valued at $14,663,000 after purchasing an additional 207,633 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Ultra Clean by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 4,360,555 shares of the semiconductor company’s stock valued at $148,869,000 after purchasing an additional 148,819 shares during the last quarter. Institutional investors own 96.06% of the company’s stock.

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.