Ultra Clean (UCTT) Lifted to “Buy” at Stifel Nicolaus

Stifel Nicolaus upgraded shares of Ultra Clean (NASDAQ:UCTT) from a hold rating to a buy rating in a report issued on Monday morning, MarketBeat.com reports. They currently have $27.00 price objective on the semiconductor company’s stock.

A number of other brokerages have also recently commented on UCTT. Cowen upped their target price on shares of Ultra Clean from $28.00 to $32.00 and gave the company an outperform rating in a report on Wednesday, October 18th. ValuEngine cut shares of Ultra Clean from a strong-buy rating to a buy rating in a report on Friday, October 13th. Dougherty & Co upped their target price on shares of Ultra Clean from $32.00 to $35.00 and gave the company a buy rating in a report on Tuesday, October 24th. Zacks Investment Research cut shares of Ultra Clean from a strong-buy rating to a hold rating in a report on Tuesday, October 24th. Finally, Needham & Company LLC reduced their target price on shares of Ultra Clean from $36.00 to $34.00 and set a buy rating for the company in a report on Thursday, October 26th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $31.83.

Shares of Ultra Clean (NASDAQ:UCTT) traded down $0.25 during mid-day trading on Monday, hitting $20.65. 1,017,200 shares of the company were exchanged, compared to its average volume of 1,003,055. Ultra Clean has a 12-month low of $9.42 and a 12-month high of $34.59. The firm has a market capitalization of $702.81, a P/E ratio of 10.10, a P/E/G ratio of 0.60 and a beta of 1.02. The company has a current ratio of 2.06, a quick ratio of 1.09 and a debt-to-equity ratio of 0.15.

Ultra Clean (NASDAQ:UCTT) last announced its quarterly earnings results on Wednesday, October 25th. The semiconductor company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.02). Ultra Clean had a net margin of 7.55% and a return on equity of 28.77%. The company had revenue of $242.60 million during the quarter, compared to analysts’ expectations of $239.11 million. During the same period last year, the firm earned $0.17 earnings per share. Ultra Clean’s revenue was up 65.9% on a year-over-year basis. equities analysts expect that Ultra Clean will post 2.34 earnings per share for the current fiscal year.

In other Ultra Clean news, SVP David Speirs sold 19,029 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $24.04, for a total transaction of $457,457.16. Following the transaction, the senior vice president now directly owns 100,879 shares in the company, valued at $2,425,131.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Joan Sterling sold 5,202 shares of the company’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $24.04, for a total transaction of $125,056.08. Following the transaction, the senior vice president now owns 64,932 shares in the company, valued at $1,560,965.28. The disclosure for this sale can be found here. Insiders have sold 44,762 shares of company stock valued at $1,204,868 over the last three months. 2.60% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Legal & General Group Plc grew its position in shares of Ultra Clean by 4.2% in the second quarter. Legal & General Group Plc now owns 7,824 shares of the semiconductor company’s stock valued at $146,000 after purchasing an additional 314 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Ultra Clean by 1.7% in the second quarter. The Manufacturers Life Insurance Company now owns 26,505 shares of the semiconductor company’s stock valued at $496,000 after purchasing an additional 454 shares during the last quarter. California Public Employees Retirement System grew its position in shares of Ultra Clean by 1.3% in the second quarter. California Public Employees Retirement System now owns 105,800 shares of the semiconductor company’s stock valued at $1,984,000 after purchasing an additional 1,400 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Ultra Clean by 1.6% in the second quarter. Goldman Sachs Group Inc. now owns 102,131 shares of the semiconductor company’s stock valued at $1,915,000 after purchasing an additional 1,618 shares during the last quarter. Finally, Paradigm Capital Management Inc. NY grew its position in shares of Ultra Clean by 1.1% in the second quarter. Paradigm Capital Management Inc. NY now owns 252,115 shares of the semiconductor company’s stock valued at $4,727,000 after purchasing an additional 2,815 shares during the last quarter. Institutional investors own 75.74% of the company’s stock.

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About Ultra Clean

Ultra Clean Holdings, Inc is engaged in the design, engineering and manufacture of production tools, modules and subsystems the semiconductor capital equipment industry. The Company’s products include precision robotic solutions; gas delivery systems; a range of industrial and automation production equipment products; subsystems that includes wafer cleaning sub-systems, chemical delivery modules, top-plate assemblies, frame assemblies, and process modules.

Analyst Recommendations for Ultra Clean (NASDAQ:UCTT)

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