Ultra Clean (NASDAQ:UCTT) Shares Gap Up Following Analyst Upgrade

Ultra Clean Holdings, Inc. (NASDAQ:UCTT)’s stock price gapped up prior to trading on Tuesday after Needham & Company LLC raised their price target on the stock from $50.00 to $56.00. The stock had previously closed at $42.96, but opened at $45.82. Needham & Company LLC currently has a buy rating on the stock. Ultra Clean shares last traded at $45.25, with a volume of 47,509 shares.

Separately, TD Cowen boosted their price objective on shares of Ultra Clean from $47.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $57.00.

Institutional Trading of Ultra Clean

Institutional investors have recently modified their holdings of the company. Meeder Asset Management Inc. bought a new position in shares of Ultra Clean during the 4th quarter worth approximately $59,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Ultra Clean in the 1st quarter worth $96,000. TFO Wealth Partners LLC grew its stake in Ultra Clean by 27,160.0% during the 4th quarter. TFO Wealth Partners LLC now owns 2,726 shares of the semiconductor company’s stock worth $93,000 after buying an additional 2,716 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Ultra Clean by 19.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,164 shares of the semiconductor company’s stock valued at $108,000 after buying an additional 514 shares in the last quarter. Finally, Whalen Wealth Management Inc. acquired a new stake in Ultra Clean in the first quarter worth about $237,000. 96.06% of the stock is currently owned by institutional investors.

Ultra Clean Stock Up 2.6 %

The stock has a market capitalization of $1.97 billion, a PE ratio of -63.87 and a beta of 2.02. The company has a current ratio of 2.88, a quick ratio of 1.67 and a debt-to-equity ratio of 0.51. The company’s 50-day moving average is $43.73 and its 200 day moving average is $36.54.

Ultra Clean (NASDAQ:UCTT) last released its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $0.12 EPS for the quarter. The business had revenue of $444.80 million for the quarter, compared to the consensus estimate of $444.99 million. Ultra Clean had a negative net margin of 1.79% and a positive return on equity of 1.69%.

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.