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Ultra Clean (NASDAQ:UCTT - Get Rating) was upgraded by Zacks Investment Research from a "strong sell" rating to a "hold" rating in a note issued to investors 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. "
Other equities research analysts have also issued reports about the company. StockNews.com initiated coverage on Ultra Clean in a research note on Thursday, March 31st. They set a "hold" rating for the company. Needham & Company LLC reduced their price objective on Ultra Clean from $66.00 to $53.00 and set a "buy" rating for the company in a research note on Tuesday, April 12th. Finally, DA Davidson dropped their target price on shares of Ultra Clean from $80.00 to $65.00 in a report on Thursday, April 28th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, Ultra Clean currently has a consensus rating of "Buy" and a consensus target price of $57.00.
Shares of NASDAQ:UCTT opened at $33.32 on Wednesday. The business has a 50-day simple moving average of $33.69 and a two-hundred day simple moving average of $44.61. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 12.34 and a beta of 2.05. Ultra Clean has a fifty-two week low of $29.03 and a fifty-two week high of $60.84. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.63 and a current ratio of 2.69.
Ultra Clean (NASDAQ:UCTT - Get Rating) last posted its earnings results on Wednesday, April 27th. The semiconductor company reported $0.85 earnings per share for the quarter, missing analysts' consensus estimates of $0.92 by ($0.07). The business had revenue of $564.14 million during the quarter, compared to the consensus estimate of $565.01 million. Ultra Clean had a return on equity of 20.43% and a net margin of 5.44%. During the same quarter last year, the firm earned $0.84 earnings per share. As a group, research analysts predict that Ultra Clean will post 4.14 earnings per share for the current year.
In other news, General Counsel Paul Yoonku Cho sold 3,536 shares of Ultra Clean stock in a transaction on Wednesday, May 11th. The shares were sold at an average price of $30.41, for a total transaction of $107,529.76. Following the transaction, the general counsel now directly owns 21,006 shares of the company's stock, valued at $638,792.46. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jacqueline A. Seto sold 1,460 shares of the company's stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $34.12, for a total value of $49,815.20. Following the sale, the director now owns 11,809 shares in the company, valued at approximately $402,923.08. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company's stock.
Hedge funds have recently added to or reduced their stakes in the business. Congress Asset Management Co. MA purchased a new stake in shares of Ultra Clean in the first quarter valued at about $13,421,000. Divisar Capital Management LLC grew its stake in Ultra Clean by 58.2% in the first quarter. Divisar Capital Management LLC now owns 760,554 shares of the semiconductor company's stock worth $32,240,000 after purchasing an additional 279,737 shares during the period. Invesco Ltd. boosted its position in shares of Ultra Clean by 28.8% in the 4th quarter. Invesco Ltd. now owns 904,102 shares of the semiconductor company's stock worth $51,859,000 after purchasing an additional 202,290 shares in the last quarter. Pacer Advisors Inc. bought a new position in Ultra Clean in the 1st quarter valued at approximately $6,039,000. Finally, Scout Investments Inc. bought a new position in shares of Ultra Clean during the 4th quarter valued at $7,412,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.
About Ultra Clean (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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