Ultra Clean (NASDAQ:UCTT) Given New $44.00 Price Target at Needham & Company LLC

Ultra Clean (NASDAQ:UCTT) had its price objective decreased by Needham & Company LLC from $50.00 to $44.00 in a research note issued to investors on Tuesday, MarketBeat.com reports. Needham & Company LLC currently has a buy rating on the semiconductor company’s stock.

A number of other equities research analysts have also commented on the company. TD Cowen increased their price target on Ultra Clean from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Oppenheimer started coverage on Ultra Clean in a report on Wednesday, September 25th. They issued an “outperform” rating and a $70.00 price target for the company. Finally, Craig Hallum increased their price objective on shares of Ultra Clean from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Ultra Clean presently has an average rating of “Buy” and a consensus price target of $57.75.

Ultra Clean Stock Performance

Ultra Clean stock opened at $33.45 on Tuesday. Ultra Clean has a 52-week low of $23.41 and a 52-week high of $56.47. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.73 and a quick ratio of 1.60. The stock has a fifty day moving average price of $36.54 and a two-hundred day moving average price of $41.98. The firm has a market capitalization of $1.50 billion, a P/E ratio of -40.79 and a beta of 2.08.

Ultra Clean (NASDAQ:UCTT) last announced 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 firm had revenue of $540.40 million during the quarter, compared to the consensus estimate of $515.88 million. Ultra Clean had a negative net margin of 0.46% and a positive return on equity of 2.59%. The firm’s quarterly revenue was up 24.2% on a year-over-year basis. During the same period last year, the firm posted ($0.03) EPS. As a group, analysts anticipate that Ultra Clean will post 1.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Ultra Clean

A number of institutional investors and hedge funds have recently made changes to their positions in UCTT. Swedbank AB acquired a new stake in Ultra Clean in the first quarter worth about $111,828,000. Assenagon Asset Management S.A. boosted its stake in shares of Ultra Clean by 454.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 335,096 shares of the semiconductor company’s stock valued at $13,380,000 after purchasing an additional 274,628 shares during the last quarter. Hood River Capital Management LLC acquired a new stake in shares of Ultra Clean during the 1st quarter worth approximately $10,915,000. Harbor Capital Advisors Inc. raised its stake in shares of Ultra Clean by 130.1% during the third quarter. Harbor Capital Advisors Inc. now owns 367,212 shares of the semiconductor company’s stock worth $14,663,000 after buying an additional 207,633 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Ultra Clean by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 4,360,555 shares of the semiconductor company’s stock valued at $148,869,000 after buying an additional 148,819 shares during the period. 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.