Ultra Clean (NASDAQ:UCTT) Shares Gap Up Following Analyst Upgrade

Ultra Clean Holdings, Inc. (NASDAQ:UCTT) shares gapped up before the market opened on Tuesday after Needham & Company LLC raised their price target on the stock from $50.00 to $56.00. The stock had previously closed at $42.96, but opened at $45.82. Needham & Company LLC currently has a buy rating on the stock. Ultra Clean shares last traded at $45.25, with a volume of 47,509 shares traded.

Separately, TD Cowen raised their price target on shares of 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $57.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. bought a new stake in Ultra Clean in the fourth quarter valued at $59,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Ultra Clean in the 1st quarter worth about $96,000. TFO Wealth Partners LLC lifted its position in Ultra Clean by 27,160.0% in the 4th quarter. TFO Wealth Partners LLC now owns 2,726 shares of the semiconductor company’s stock valued at $93,000 after purchasing an additional 2,716 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Ultra Clean by 19.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,164 shares of the semiconductor company’s stock valued at $108,000 after purchasing an additional 514 shares during the period. Finally, Whalen Wealth Management Inc. bought a new position in Ultra Clean in the 1st quarter worth about $237,000. Institutional investors and hedge funds own 96.06% of the company’s stock.

Ultra Clean Stock Down 0.6 %

The company has a quick ratio of 1.67, a current ratio of 2.88 and a debt-to-equity ratio of 0.51. The firm’s 50 day simple moving average is $43.75 and its 200 day simple moving average is $36.59. The company has a market cap of $1.96 billion, a price-to-earnings ratio of -63.46 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 EPS for the quarter. The firm had revenue of $444.80 million for the quarter, compared to analysts’ expectations of $444.99 million. Ultra Clean had a positive return on equity of 1.69% and a negative net margin of 1.79%.

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.