Ultra Clean Holdings, Inc. (UCTT) PT Raised to $36.00 at Needham & Company LLC
Ultra Clean Holdings, Inc. (NASDAQ:UCTT) had its price objective hoisted by investment analysts at Needham & Company LLC from $30.00 to $36.00 in a report issued on Friday. The firm presently has a “strong-buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price target suggests a potential upside of 11.39% from the stock’s current price.
A number of other equities analysts have also recently issued reports on the stock. ValuEngine raised shares of Ultra Clean Holdings from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 16th. Zacks Investment Research raised shares of Ultra Clean Holdings from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Tuesday, July 18th. Craig Hallum raised their price target on shares of Ultra Clean Holdings from $25.00 to $34.00 and gave the company a “buy” rating in a research report on Friday, July 28th. Stifel Nicolaus raised their price target on shares of Ultra Clean Holdings from $18.00 to $20.00 and gave the company a “hold” rating in a research report on Monday, July 10th. Finally, BidaskClub raised shares of Ultra Clean Holdings from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Four research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $28.83.
Ultra Clean Holdings (NASDAQ:UCTT) last issued its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.11. Ultra Clean Holdings had a return on equity of 24.16% and a net margin of 6.25%. The firm had revenue of $228.26 million during the quarter, compared to the consensus estimate of $213.92 million. During the same period last year, the business posted $0.10 EPS. The business’s revenue was up 75.8% compared to the same quarter last year.
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In related news, SVP David Speirs sold 19,029 shares of Ultra Clean Holdings stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $24.04, for a total value of $457,457.16. Following the completion of the transaction, the senior vice president now directly owns 100,879 shares in the company, valued at approximately $2,425,131.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David T. Ibnale sold 10,000 shares of Ultra Clean Holdings stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $22.95, for a total transaction of $229,500.00. Following the completion of the transaction, the director now owns 76,000 shares of the company’s stock, valued at $1,744,200. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,119 shares of company stock valued at $1,203,079. 2.60% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in UCTT. Legal & General Group Plc lifted its holdings in shares of Ultra Clean Holdings by 4.2% during the 2nd quarter. Legal & General Group Plc now owns 7,824 shares of the semiconductor company’s stock worth $146,000 after acquiring an additional 314 shares during the last quarter. Pacad Investment Ltd. bought a new stake in Ultra Clean Holdings in the second quarter worth $173,000. State Board of Administration of Florida Retirement System lifted its stake in Ultra Clean Holdings by 0.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 12,618 shares of the semiconductor company’s stock worth $213,000 after purchasing an additional 69 shares during the last quarter. Principal Financial Group Inc. bought a new stake in Ultra Clean Holdings in the second quarter worth $228,000. Finally, NN Investment Partners Holdings N.V. bought a new stake in Ultra Clean Holdings in the second quarter worth $236,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.
Ultra Clean Holdings Company Profile
Ultra Clean Holdings, Inc is engaged in the design, engineering and manufacture of production tools, modules and subsystems the semiconductor capital equipment industry. The Company’s products include precision robotic solutions; gas delivery systems; a range of industrial and automation production equipment products; subsystems that includes wafer cleaning sub-systems, chemical delivery modules, top-plate assemblies, frame assemblies, and process modules.
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