Ultra Clean (NASDAQ:UCTT) Price Target Cut to $57.00

Ultra Clean (NASDAQ:UCTT) had its target price lowered by TD Cowen from $60.00 to $57.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. TD Cowen’s price objective would suggest a potential upside of 70.40% from the stock’s previous close.

A number of other brokerages have also issued reports on UCTT. Craig Hallum increased their target price on Ultra Clean from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Oppenheimer assumed coverage on Ultra Clean in a report on Wednesday, September 25th. They issued an “outperform” rating and a $70.00 price objective on the stock. Finally, Needham & Company LLC decreased their price objective on Ultra Clean from $50.00 to $44.00 and set a “buy” rating on the stock in a report on Tuesday. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $57.75.

Ultra Clean Stock Performance

Shares of NASDAQ UCTT traded down $1.60 during midday trading on Tuesday, reaching $33.45. 817,917 shares of the stock were exchanged, compared to its average volume of 363,086. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of -40.44 and a beta of 2.08. Ultra Clean has a twelve month low of $23.26 and a twelve month high of $56.47. The firm has a 50-day simple moving average of $36.67 and a two-hundred day simple moving average of $42.09. The company has a quick ratio of 1.60, a current ratio of 2.73 and a debt-to-equity ratio of 0.52.

Institutional Trading of Ultra Clean

A number of hedge funds and other institutional investors have recently modified their holdings of UCTT. GAMMA Investing LLC boosted its stake in shares of Ultra Clean by 52.1% in the 2nd quarter. GAMMA Investing LLC now owns 622 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 213 shares during the period. Signaturefd LLC lifted its stake in Ultra Clean by 465.5% in the third quarter. Signaturefd LLC now owns 803 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 661 shares during the last quarter. CWM LLC increased its holdings in shares of Ultra Clean by 46.3% in the second quarter. CWM LLC now owns 800 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 253 shares during the period. Innealta Capital LLC acquired a new position in shares of Ultra Clean in the second quarter valued at approximately $41,000. Finally, nVerses Capital LLC acquired a new position in shares of Ultra Clean in the second quarter valued at approximately $64,000. 96.06% of the stock is owned by institutional investors and hedge funds.

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.