Ultra Clean (NASDAQ:UCTT) Given “Buy” Rating at Needham & Company LLC

Ultra Clean (NASDAQ:UCTT)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a research note issued on Friday, Benzinga reports. They presently have a $56.00 target price on the semiconductor company’s stock. Needham & Company LLC’s price objective points to a potential upside of 24.09% from the company’s previous close.

Separately, TD Cowen raised their price objective on shares of Ultra Clean from $47.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $57.00.

Ultra Clean Price Performance

UCTT opened at $45.13 on Friday. The stock’s 50 day moving average price is $48.54 and its 200-day moving average price is $44.23. Ultra Clean has a 52-week low of $22.15 and a 52-week high of $56.47. The stock has a market capitalization of $2.02 billion, a PE ratio of -55.04 and a beta of 2.13. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.58 and a current ratio of 2.76.

Ultra Clean (NASDAQ:UCTT) last issued its quarterly earnings data on Monday, May 6th. The semiconductor company reported $0.20 EPS for the quarter. The business had revenue of $477.70 million during the quarter, compared to analyst estimates of $455.00 million. Ultra Clean had a negative net margin of 2.09% and a positive return on equity of 2.19%.

Insider Activity

In related news, SVP Jamie J. Palfrey sold 5,744 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $43.50, for a total value of $249,864.00. Following the completion of the transaction, the senior vice president now directly owns 23,693 shares in the company, valued at approximately $1,030,645.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Sheri Savage sold 897 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $55.87, for a total value of $50,115.39. Following the sale, the chief financial officer now directly owns 51,678 shares of the company’s stock, valued at approximately $2,887,249.86. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Jamie J. Palfrey sold 5,744 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $43.50, for a total value of $249,864.00. Following the completion of the sale, the senior vice president now owns 23,693 shares in the company, valued at approximately $1,030,645.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 110,314 shares of company stock worth $5,370,214. Corporate insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Ultra Clean

Hedge funds have recently added to or reduced their stakes in the stock. Frontier Capital Management Co. LLC raised its position in shares of Ultra Clean by 37.5% in the 4th quarter. Frontier Capital Management Co. LLC now owns 2,559,943 shares of the semiconductor company’s stock worth $87,396,000 after purchasing an additional 698,242 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Ultra Clean by 4.7% in the third quarter. Vanguard Group Inc. now owns 4,211,736 shares of the semiconductor company’s stock worth $124,962,000 after buying an additional 190,942 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Ultra Clean by 4.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,343 shares of the semiconductor company’s stock worth $695,000 after buying an additional 930 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Ultra Clean by 25.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 121,526 shares of the semiconductor company’s stock valued at $4,149,000 after buying an additional 24,670 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Ultra Clean by 6.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 20,350 shares of the semiconductor company’s stock valued at $655,000 after acquiring an additional 1,303 shares in the last quarter. 96.06% of the stock is owned by institutional investors.

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.