Needham & Company LLC Boosts Ultra Clean (NASDAQ:UCTT) Price Target to $56.00

Ultra Clean (NASDAQ:UCTT) had its price target boosted by research analysts at Needham & Company LLC from $50.00 to $56.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 27.88% from the stock’s current price.

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

Ultra Clean Trading Down 0.6 %

NASDAQ UCTT opened at $43.79 on Tuesday. The firm’s fifty day moving average is $43.75 and its two-hundred day moving average is $36.59. Ultra Clean has a one year low of $22.15 and a one year high of $49.25. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.67 and a current ratio of 2.88. The firm has a market cap of $1.96 billion, a PE ratio of -53.40 and a beta of 2.02.

Ultra Clean (NASDAQ:UCTT) last issued its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $0.12 earnings per share (EPS) for the quarter. Ultra Clean had a positive return on equity of 1.69% and a negative net margin of 1.79%. The firm had revenue of $444.80 million for the quarter, compared to analysts’ expectations of $444.99 million.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Frontier Capital Management Co. LLC grew its stake in shares of Ultra Clean by 37.5% during the 4th quarter. Frontier Capital Management Co. LLC now owns 2,559,943 shares of the semiconductor company’s stock worth $87,396,000 after purchasing an additional 698,242 shares during the period. Vaughan Nelson Investment Management L.P. grew its position in Ultra Clean by 47.6% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 808,723 shares of the semiconductor company’s stock worth $37,152,000 after buying an additional 260,740 shares during the period. Congress Asset Management Co. MA grew its position in Ultra Clean by 37.3% during the third quarter. Congress Asset Management Co. MA now owns 823,957 shares of the semiconductor company’s stock worth $24,447,000 after buying an additional 223,865 shares during the period. Vanguard Group Inc. increased its holdings in Ultra Clean by 4.7% in the third quarter. Vanguard Group Inc. now owns 4,211,736 shares of the semiconductor company’s stock valued at $124,962,000 after buying an additional 190,942 shares in the last quarter. Finally, UBS Group AG lifted its position in shares of Ultra Clean by 101.9% during the 4th quarter. UBS Group AG now owns 300,993 shares of the semiconductor company’s stock valued at $10,276,000 after acquiring an additional 151,928 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.