Ultra Clean (NASDAQ:UCTT) PT Raised to $56.00

Ultra Clean (NASDAQ:UCTT) had its target price hoisted by equities researchers at Needham & Company LLC from $50.00 to $56.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently 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 lifted their target price on Ultra Clean from $47.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Ultra Clean currently has a consensus rating of “Moderate Buy” and an average price target of $57.00.

Ultra Clean Stock Down 0.6 %

NASDAQ:UCTT opened at $43.79 on Tuesday. The company has a market cap of $1.96 billion, a price-to-earnings ratio of -53.40 and a beta of 2.02. Ultra Clean has a twelve month low of $22.15 and a twelve month high of $49.25. The company has a current ratio of 2.88, a quick ratio of 1.67 and a debt-to-equity ratio of 0.51. The stock has a fifty day simple moving average of $43.75 and a 200-day simple moving average of $36.59.

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

Hedge Funds Weigh In On Ultra Clean

Several institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Ultra Clean by 40.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,803 shares of the semiconductor company’s stock worth $350,000 after acquiring an additional 3,394 shares in the last quarter. Strs Ohio lifted its position in shares of Ultra Clean by 10.5% during the third quarter. Strs Ohio now owns 9,500 shares of the semiconductor company’s stock valued at $281,000 after buying an additional 900 shares during the last quarter. Congress Wealth Management LLC DE boosted its holdings in shares of Ultra Clean by 6.9% in the 3rd quarter. Congress Wealth Management LLC DE now owns 115,751 shares of the semiconductor company’s stock valued at $3,434,000 after buying an additional 7,472 shares in the last quarter. Panagora Asset Management Inc. purchased a new position in shares of Ultra Clean in the 3rd quarter worth approximately $1,971,000. Finally, Congress Asset Management Co. MA raised its stake in shares of Ultra Clean by 37.3% during the 3rd quarter. Congress Asset Management Co. MA now owns 823,957 shares of the semiconductor company’s stock worth $24,447,000 after acquiring an additional 223,865 shares in the last quarter. 96.06% of the stock is owned by hedge funds and other institutional investors.

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.