Ultra Clean (NASDAQ:UCTT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
According to Zacks, “ULTRA CLEAN HOLDINGS, INC. is a developer and supplier of critical subsystems for the semiconductor capital equipment, flat panel, solar and medical device industries. Ultra Clean offers its customers an integrated outsourced solution for gas delivery systems and other subassemblies, improved design-to-delivery cycle times, component neutral design and manufacturing and component testing capabilities. Ultra Clean’s customers are primarily original equipment manufacturers for the semiconductor capital equipment, flat panel, solar and medical device industries. Ultra Clean is headquartered in Menlo Park, California. “
A number of other research analysts have also weighed in on the company. Stifel Nicolaus raised Ultra Clean from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Monday, December 4th. Needham & Company LLC decreased their target price on Ultra Clean from $36.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, October 26th. Dougherty & Co boosted their target price on Ultra Clean from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, October 24th. Cowen boosted their target price on Ultra Clean from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Wednesday, October 18th. Finally, ValuEngine lowered Ultra Clean from a “strong-buy” rating to a “buy” rating in a report on Friday, October 13th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $31.50.
Shares of Ultra Clean (UCTT) opened at $23.22 on Friday. Ultra Clean has a 12 month low of $11.86 and a 12 month high of $34.59. The stock has a market capitalization of $780.82, a P/E ratio of 12.35, a PEG ratio of 0.61 and a beta of 1.02. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.09 and a current ratio of 2.06.
Ultra Clean (NASDAQ:UCTT) last announced its quarterly earnings data on Wednesday, October 25th. The semiconductor company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.02). Ultra Clean had a return on equity of 28.77% and a net margin of 7.55%. The company had revenue of $242.60 million for the quarter, compared to the consensus estimate of $239.11 million. During the same quarter in the prior year, the company earned $0.17 EPS. The company’s revenue for the quarter was up 65.9% on a year-over-year basis. research analysts forecast that Ultra Clean will post 2.34 earnings per share for the current year.
In other Ultra Clean news, Director David T. Ibnale sold 12,500 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $21.58, for a total value of $269,750.00. Following the transaction, the director now directly owns 63,500 shares of the company’s stock, valued at approximately $1,370,330. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Deborah E. Hayward sold 13,872 shares of the company’s stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $32.48, for a total value of $450,562.56. Following the completion of the transaction, the insider now directly owns 61,702 shares in the company, valued at $2,004,080.96. The disclosure for this sale can be found here. Insiders have sold a total of 39,785 shares of company stock worth $1,037,188 over the last three months. 2.60% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its holdings in Ultra Clean by 1.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,818,688 shares of the semiconductor company’s stock valued at $52,850,000 after buying an additional 39,357 shares in the last quarter. Vanguard Group Inc. grew its holdings in Ultra Clean by 32.3% in the 2nd quarter. Vanguard Group Inc. now owns 1,636,857 shares of the semiconductor company’s stock valued at $30,691,000 after buying an additional 399,627 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in Ultra Clean by 17.5% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 629,800 shares of the semiconductor company’s stock valued at $19,284,000 after buying an additional 94,000 shares in the last quarter. State Street Corp grew its holdings in Ultra Clean by 14.0% in the 2nd quarter. State Street Corp now owns 601,912 shares of the semiconductor company’s stock valued at $11,285,000 after buying an additional 74,084 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Ultra Clean by 2,868.6% during the 2nd quarter. Nordea Investment Management AB now owns 359,200 shares of the semiconductor company’s stock valued at $6,735,000 after acquiring an additional 347,100 shares during the period. 75.48% of the stock is currently owned by hedge funds and other institutional investors.
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.
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