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

Ultra Clean (NASDAQ:UCTT) had its price target increased by Needham & Company LLC from $50.00 to $56.00 in a research 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 target would indicate a potential upside of 30.35% from the stock’s current price.

Separately, TD Cowen upped their price target on Ultra Clean from $47.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Ultra Clean presently has an average rating of “Moderate Buy” and a consensus price target of $57.00.

Ultra Clean Price Performance

NASDAQ UCTT opened at $42.96 on Tuesday. The business has a 50 day simple moving average of $43.73 and a 200 day simple moving average of $36.41. Ultra Clean has a 52-week low of $22.15 and a 52-week 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 stock has a market cap of $1.92 billion, a price-to-earnings ratio of -62.26 and a beta of 2.02.

Ultra Clean (NASDAQ:UCTT) last posted its 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 business had revenue of $444.80 million during the quarter, compared to analysts’ expectations of $444.99 million.

Institutional Investors Weigh In On Ultra Clean

Several large investors have recently made changes to their positions in UCTT. Frontier Capital Management Co. LLC boosted its holdings in shares of Ultra Clean by 37.5% in the 4th quarter. Frontier Capital Management Co. LLC now owns 2,559,943 shares of the semiconductor company’s stock valued at $87,396,000 after buying an additional 698,242 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Ultra Clean by 47.6% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 808,723 shares of the semiconductor company’s stock valued at $37,152,000 after buying an additional 260,740 shares during the last quarter. Congress Asset Management Co. MA boosted its holdings in shares of Ultra Clean by 37.3% in the 3rd quarter. Congress Asset Management Co. MA now owns 823,957 shares of the semiconductor company’s stock valued at $24,447,000 after buying an additional 223,865 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Ultra Clean by 4.7% in the 3rd 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 during the last quarter. Finally, UBS Group AG boosted its holdings in shares of Ultra Clean by 101.9% in the 4th quarter. UBS Group AG now owns 300,993 shares of the semiconductor company’s stock valued at $10,276,000 after buying an additional 151,928 shares during the last quarter. Institutional investors and hedge funds 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.