Ultra Clean (NASDAQ:UCTT) Upgraded by Zacks Investment Research to Hold

Ultra Clean (NASDAQ:UCTTGet Rating) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Wednesday, Zacks.com reports.

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 equities analysts also recently weighed in on UCTT. Needham & Company LLC lowered their target price on shares of Ultra Clean from $66.00 to $53.00 and set a “buy” rating for the company in a research note on Tuesday, April 12th. DA Davidson lowered their price target on Ultra Clean from $80.00 to $65.00 in a research report on Thursday, April 28th. Finally, StockNews.com began coverage on shares of Ultra Clean in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $57.00.

Ultra Clean stock opened at $33.32 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.69 and a quick ratio of 1.63. The company’s 50 day simple moving average is $33.69 and its 200 day simple moving average is $44.61. Ultra Clean has a fifty-two week low of $29.03 and a fifty-two week high of $60.84. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 12.34 and a beta of 2.05.

Ultra Clean (NASDAQ:UCTTGet Rating) last released its earnings results on Wednesday, April 27th. The semiconductor company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.07). The firm had revenue of $564.14 million during the quarter, compared to the consensus estimate of $565.01 million. Ultra Clean had a net margin of 5.44% and a return on equity of 20.43%. During the same period in the prior year, the business posted $0.84 earnings per share. As a group, analysts predict that Ultra Clean will post 4.14 EPS for the current fiscal year.

In related news, Director Jacqueline A. Seto sold 1,460 shares of the firm’s stock in a transaction on Friday, May 27th. The shares were sold at an average price of $34.12, for a total transaction of $49,815.20. Following the completion of the transaction, the director now directly owns 11,809 shares of the company’s stock, valued at $402,923.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Paul Yoonku Cho sold 3,536 shares of the firm’s stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $30.41, for a total value of $107,529.76. Following the completion of the sale, the general counsel now owns 21,006 shares of the company’s stock, valued at $638,792.46. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Counterpoint Mutual Funds LLC acquired a new stake in shares of Ultra Clean in the 4th quarter valued at $28,000. US Bancorp DE increased its stake in shares of Ultra Clean by 1,476.8% during the 3rd quarter. US Bancorp DE now owns 883 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 827 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in Ultra Clean in the 4th quarter valued at about $40,000. UMB Bank N A MO purchased a new stake in Ultra Clean in the 4th quarter worth approximately $41,000. Finally, Koshinski Asset Management Inc. boosted its stake in Ultra Clean by 646.0% in the 4th quarter. Koshinski Asset Management Inc. now owns 746 shares of the semiconductor company’s stock worth $43,000 after buying an additional 646 shares during the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Ultra Clean Company Profile (Get Rating)

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.

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