Ultra Clean (NASDAQ:UCTT) Earns “Buy” Rating from Needham & Company LLC

Ultra Clean (NASDAQ:UCTT)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company LLC in a research note issued on Thursday,Benzinga reports. They currently have a $40.00 target price on the semiconductor company’s stock. Needham & Company LLC’s target price points to a potential upside of 57.98% from the company’s current price.

Ultra Clean Price Performance

Ultra Clean stock opened at $25.32 on Thursday. The stock’s fifty day moving average price is $35.28 and its two-hundred day moving average price is $36.23. Ultra Clean has a one year low of $22.85 and a one year high of $56.47. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.75 and a quick ratio of 1.63. The firm has a market cap of $1.14 billion, a PE ratio of 316.54, a price-to-earnings-growth ratio of 0.51 and a beta of 2.09.

Hedge Funds Weigh In On Ultra Clean

A number of hedge funds have recently added to or reduced their stakes in the stock. Alpha Wealth Funds LLC acquired a new stake in shares of Ultra Clean in the 4th quarter valued at $356,000. AWM Investment Company Inc. grew its position in Ultra Clean by 22.0% during the 4th quarter. AWM Investment Company Inc. now owns 184,917 shares of the semiconductor company’s stock worth $6,648,000 after acquiring an additional 33,300 shares during the last quarter. PharVision Advisers LLC bought a new stake in Ultra Clean during the 4th quarter worth $291,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Ultra Clean by 6.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 72,089 shares of the semiconductor company’s stock worth $2,592,000 after acquiring an additional 4,194 shares during the last quarter. Finally, Twinbeech Capital LP bought a new stake in Ultra Clean during the 4th quarter worth $529,000. 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.