Ultra Clean (UCTT) Upgraded to “Buy” at Stifel Nicolaus

Ultra Clean (NASDAQ:UCTT) was upgraded by equities researchers at Stifel Nicolaus from a “hold” rating to a “buy” rating in a report released on Monday. The brokerage currently has a $27.00 price target on the semiconductor company’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 32.29% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Needham & Company LLC boosted their price objective on shares of Ultra Clean from $30.00 to $36.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 13th. Cowen boosted their price objective on shares of Ultra Clean from $28.00 to $32.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 18th. Zacks Investment Research upgraded shares of Ultra Clean from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a research note on Saturday, October 28th. ValuEngine lowered shares of Ultra Clean from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 13th. Finally, Dougherty & Co upped their price target on shares of Ultra Clean from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, October 24th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $31.83.

Ultra Clean (NASDAQ:UCTT) opened at $20.41 on Monday. The firm has a market cap of $686.33, a PE ratio of 9.86, a PEG ratio of 0.58 and a beta of 1.02. Ultra Clean has a 52 week low of $9.25 and a 52 week high of $34.59. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.09 and a current ratio of 2.06.

Ultra Clean (NASDAQ:UCTT) last released its quarterly earnings data on Wednesday, October 25th. The semiconductor company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.02). The firm had revenue of $242.60 million for the quarter, compared to analyst estimates of $239.11 million. Ultra Clean had a return on equity of 28.77% and a net margin of 7.55%. The firm’s revenue for the quarter was up 65.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.17 earnings per share. research analysts predict that Ultra Clean will post 2.34 earnings per share for the current fiscal year.

In related news, insider Deborah E. Hayward sold 13,872 shares of the company’s stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $32.48, for a total value of $450,562.56. Following the transaction, the insider now owns 61,702 shares in the company, valued at approximately $2,004,080.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director David T. Ibnale sold 10,000 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $1,744,200. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,762 shares of company stock worth $1,434,368. 2.60% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc boosted its holdings in Ultra Clean by 4.2% in the 2nd quarter. Legal & General Group Plc now owns 7,824 shares of the semiconductor company’s stock valued at $146,000 after purchasing an additional 314 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Ultra Clean by 1.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 26,505 shares of the semiconductor company’s stock valued at $496,000 after purchasing an additional 454 shares during the period. California Public Employees Retirement System boosted its holdings in Ultra Clean by 1.3% in the 2nd quarter. California Public Employees Retirement System now owns 105,800 shares of the semiconductor company’s stock valued at $1,984,000 after purchasing an additional 1,400 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Ultra Clean by 1.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 102,131 shares of the semiconductor company’s stock valued at $1,915,000 after purchasing an additional 1,618 shares during the period. Finally, Paradigm Capital Management Inc. NY boosted its holdings in Ultra Clean by 1.1% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 252,115 shares of the semiconductor company’s stock valued at $4,727,000 after purchasing an additional 2,815 shares during the period. Institutional investors and hedge funds own 75.74% of the company’s stock.

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About Ultra Clean

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.

Analyst Recommendations for Ultra Clean (NASDAQ:UCTT)

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