Needham & Company LLC Cuts Ultra Clean (NASDAQ:UCTT) Price Target to $40.00

Ultra Clean (NASDAQ:UCTT) had its price target trimmed by Needham & Company LLC from $44.00 to $40.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

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

Ultra Clean Stock Performance

Shares of Ultra Clean stock opened at $24.96 on Tuesday. The business has a fifty day simple moving average of $36.71 and a two-hundred day simple moving average of $36.79. The firm has a market capitalization of $1.13 billion, a P/E ratio of 312.04, a P/E/G ratio of 0.51 and a beta of 2.09. The company has a current ratio of 2.75, a quick ratio of 1.63 and a debt-to-equity ratio of 0.52. Ultra Clean has a 12 month low of $24.92 and a 12 month high of $56.47.

Hedge Funds Weigh In On Ultra Clean

A number of hedge funds have recently bought and sold shares of the business. Creative Planning purchased a new position in shares of Ultra Clean in the 3rd quarter worth $546,000. Allspring Global Investments Holdings LLC boosted its position in Ultra Clean by 1,073.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 13,040 shares of the semiconductor company’s stock worth $521,000 after purchasing an additional 11,929 shares during the last quarter. Signaturefd LLC increased its position in shares of Ultra Clean by 465.5% during the 3rd quarter. Signaturefd LLC now owns 803 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 661 shares during the last quarter. Lodestar Private Asset Management LLC purchased a new stake in shares of Ultra Clean during the 3rd quarter valued at about $885,000. Finally, Pinnacle Associates Ltd. grew its position in Ultra Clean by 2.1% during the third quarter. Pinnacle Associates Ltd. now owns 420,709 shares of the semiconductor company’s stock valued at $16,799,000 after buying an additional 8,471 shares during the period. Hedge funds and other 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.