Ultra Clean (NASDAQ:UCTT) Price Target Cut to $40.00 by Analysts at Needham & Company LLC

Ultra Clean (NASDAQ:UCTT) had its price target reduced by equities researchers at Needham & Company LLC from $44.00 to $40.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 10.93% from the stock’s current price.

Separately, TD Cowen decreased their target price on shares of Ultra Clean from $60.00 to $57.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th.

Ultra Clean Stock Down 3.5 %

Shares of NASDAQ UCTT opened at $36.06 on Tuesday. The firm’s 50 day moving average price is $37.14 and its 200 day moving average price is $36.94. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.63 and a current ratio of 2.75. The firm has a market cap of $1.63 billion, a P/E ratio of 450.81, a price-to-earnings-growth ratio of 0.51 and a beta of 2.09. Ultra Clean has a 1 year low of $32.08 and a 1 year high of $56.47.

Ultra Clean (NASDAQ:UCTT) last posted its quarterly earnings data on Monday, February 24th. The semiconductor company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.03). Ultra Clean had a return on equity of 4.08% and a net margin of 0.18%. As a group, sell-side analysts anticipate that Ultra Clean will post 1.09 earnings per share for the current year.

Institutional Investors Weigh In On Ultra Clean

Several large investors have recently made changes to their positions in the business. Headlands Technologies LLC acquired a new stake in Ultra Clean in the 4th quarter valued at $26,000. Signaturefd LLC boosted its position in shares of Ultra Clean by 465.5% in the third quarter. Signaturefd LLC now owns 803 shares of the semiconductor company’s stock worth $32,000 after buying an additional 661 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Ultra Clean in the third quarter valued at about $32,000. Nisa Investment Advisors LLC raised its holdings in shares of Ultra Clean by 107.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 948 shares of the semiconductor company’s stock valued at $34,000 after buying an additional 490 shares during the period. Finally, Smartleaf Asset Management LLC lifted its position in Ultra Clean by 694.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 977 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 854 shares in the last quarter. Institutional investors and hedge funds 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.