Ultra Clean Holdings, Inc. (NASDAQ:UCTT) Downgraded by ValuEngine

ValuEngine cut shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday, July 11th.

UCTT has been the subject of a number of other reports. Cowen and Company assumed coverage on Ultra Clean Holdings in a research report on Thursday, June 15th. They set a market perform rating and a $26.00 price objective for the company. Stifel Nicolaus raised their price objective on Ultra Clean Holdings from $18.00 to $20.00 and gave the stock a hold rating in a research report on Monday, July 10th. Zacks Investment Research lowered Ultra Clean Holdings from a strong-buy rating to a hold rating in a research report on Wednesday, April 26th. Finally, Needham & Company LLC raised their price objective on Ultra Clean Holdings from $18.00 to $22.00 and gave the stock a buy rating in a research report on Thursday, April 27th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $27.83.

Ultra Clean Holdings (NASDAQ:UCTT) traded down 0.86% on Tuesday, reaching $21.81. 1,135,209 shares of the company’s stock were exchanged. The stock has a market capitalization of $729.15 million, a P/E ratio of 15.78 and a beta of 1.19. Ultra Clean Holdings has a 1-year low of $6.00 and a 1-year high of $26.21. The firm’s 50 day moving average is $21.55 and its 200 day moving average is $18.03.

Ultra Clean Holdings (NASDAQ:UCTT) last released its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.11. Ultra Clean Holdings had a return on equity of 25.19% and a net margin of 6.25%. The business had revenue of $228.26 million during the quarter, compared to analyst estimates of $213.92 million. During the same quarter last year, the company posted $0.10 EPS. Ultra Clean Holdings’s revenue for the quarter was up 75.8% on a year-over-year basis. Analysts expect that Ultra Clean Holdings will post $2.28 EPS for the current year.

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In other Ultra Clean Holdings news, CFO Sheri Brumm sold 20,512 shares of Ultra Clean Holdings stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $22.85, for a total value of $468,699.20. Following the transaction, the chief financial officer now directly owns 170,939 shares of the company’s stock, valued at approximately $3,905,956.15. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Mark Bingaman sold 36,743 shares of Ultra Clean Holdings stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $23.34, for a total value of $857,581.62. Following the completion of the transaction, the senior vice president now directly owns 76,670 shares in the company, valued at $1,789,477.80. The disclosure for this sale can be found here. Insiders sold a total of 94,484 shares of company stock worth $2,119,172 over the last three months. 2.60% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC increased its position in shares of Ultra Clean Holdings by 186.6% in the fourth quarter. Renaissance Technologies LLC now owns 763,500 shares of the semiconductor company’s stock valued at $7,406,000 after buying an additional 497,100 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Ultra Clean Holdings by 21.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,779,331 shares of the semiconductor company’s stock valued at $46,886,000 after buying an additional 488,054 shares in the last quarter. ClariVest Asset Management LLC increased its position in shares of Ultra Clean Holdings by 1,231.9% in the second quarter. ClariVest Asset Management LLC now owns 479,084 shares of the semiconductor company’s stock valued at $8,982,000 after buying an additional 443,115 shares in the last quarter. Bank of Montreal Can increased its position in shares of Ultra Clean Holdings by 97,560.0% in the second quarter. Bank of Montreal Can now owns 442,400 shares of the semiconductor company’s stock valued at $8,295,000 after buying an additional 441,947 shares in the last quarter. Finally, Neuberger Berman Group LLC acquired a new position in shares of Ultra Clean Holdings during the first quarter valued at approximately $6,748,000. 83.33% of the stock is currently owned by institutional investors.

Ultra Clean Holdings Company Profile

Ultra Clean Holdings, Inc is engaged in the design, engineering and manufacture of production tools, modules and subsystems the semiconductor capital equipment industry. The Company’s products include precision robotic solutions; gas delivery systems; a range of industrial and automation production equipment products; subsystems that includes wafer cleaning sub-systems, chemical delivery modules, top-plate assemblies, frame assemblies, and process modules.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Ultra Clean Holdings (NASDAQ:UCTT)

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