Zacks Investment Research Upgrades Ultra Clean (UCTT) to “Hold”

Zacks Investment Research upgraded shares of Ultra Clean (NASDAQ:UCTT) from a strong sell rating to a hold rating in a research note published on Friday morning.

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 brokerages also recently issued reports on UCTT. BidaskClub downgraded Ultra Clean from a hold rating to a sell rating in a research report on Tuesday, July 17th. Standpoint Research upgraded Ultra Clean from a hold rating to a buy rating in a research report on Tuesday, August 28th. Cowen lowered their price objective on Ultra Clean from $28.00 to $23.00 and set an outperform rating on the stock in a research report on Tuesday, September 18th. Finally, Stifel Nicolaus increased their price objective on Ultra Clean from $27.00 to $30.00 and gave the stock a buy rating in a research report on Monday, June 18th. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $27.20.

UCTT stock opened at $11.93 on Friday. The company has a market capitalization of $488.64 million, a PE ratio of 5.10, a price-to-earnings-growth ratio of 0.84 and a beta of 0.81. Ultra Clean has a 12-month low of $11.74 and a 12-month high of $34.59.

Ultra Clean (NASDAQ:UCTT) last announced its quarterly earnings data on Thursday, July 26th. The semiconductor company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.02). Ultra Clean had a net margin of 7.68% and a return on equity of 24.73%. The firm had revenue of $290.20 million for the quarter, compared to the consensus estimate of $288.54 million. During the same period last year, the company posted $0.59 earnings per share. Ultra Clean’s revenue for the quarter was up 27.1% on a year-over-year basis. On average, analysts anticipate that Ultra Clean will post 1.88 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Piedmont Investment Advisors LLC bought a new position in shares of Ultra Clean during the second quarter valued at about $150,000. Baird Financial Group Inc. bought a new position in shares of Ultra Clean during the second quarter valued at about $168,000. Mason Street Advisors LLC bought a new position in shares of Ultra Clean during the first quarter valued at about $205,000. Aperio Group LLC bought a new position in shares of Ultra Clean during the second quarter valued at about $205,000. Finally, Value Holdings Management CO. LLC bought a new position in shares of Ultra Clean during the second quarter valued at about $216,000. Institutional investors and hedge funds own 82.82% of the company’s stock.

About Ultra Clean

Ultra Clean Holdings, Inc designs, develops, prototypes, engineers, manufactures, and tests production tools, modules, and subsystems for the semiconductor and display capital equipment industries primarily in North America, Asia, and Europe. It offers precision robotic systems that are used when accurate controlled motion is required; gas delivery systems, which include one or more gas lines consisting of small diameter internally polished stainless steel tubing products, filters, mass flow controllers, regulators, pressure transducers and valves, component heaters, and an integrated electronic and/or pneumatic control system; and various industrial and automation production equipment products.

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