Ultra Clean (NASDAQ:UCTT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

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. “

A number of other analysts have also recently issued reports on UCTT. Needham & Company LLC increased 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. ValuEngine cut shares of Ultra Clean from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 13th. Cowen raised their target price on shares of Ultra Clean from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Wednesday, October 18th. Dougherty & Co raised their target price 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. Finally, Stifel Nicolaus raised shares of Ultra Clean from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Monday, December 4th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Ultra Clean currently has an average rating of “Buy” and a consensus price target of $31.50.

Shares of Ultra Clean (UCTT) traded up $0.47 during midday trading on Friday, hitting $23.22. 827,945 shares of the stock were exchanged, compared to its average volume of 1,380,000. The company has a current ratio of 2.06, a quick ratio of 1.09 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $780.83, a PE ratio of 12.35, a PEG ratio of 0.62 and a beta of 1.02. Ultra Clean has a 1 year low of $11.74 and a 1 year high of $34.59.

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

In other Ultra Clean news, Director David T. Ibnale sold 12,500 shares of the stock in a transaction on Friday, December 15th. The shares were sold at an average price of $21.58, for a total transaction of $269,750.00. Following the completion of the transaction, the director now owns 63,500 shares in the company, valued at $1,370,330. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Deborah E. Hayward sold 13,872 shares of the stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $32.48, for a total transaction of $450,562.56. Following the transaction, the insider now owns 61,702 shares of the company’s stock, valued at approximately $2,004,080.96. The disclosure for this sale can be found here. Insiders have sold 39,785 shares of company stock valued at $1,037,188 over the last ninety days. 2.60% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its position in Ultra Clean by 1.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,818,688 shares of the semiconductor company’s stock valued at $52,850,000 after purchasing an additional 39,357 shares during the last quarter. Vanguard Group Inc. lifted its position in Ultra Clean by 32.3% during the second quarter. Vanguard Group Inc. now owns 1,636,857 shares of the semiconductor company’s stock valued at $30,691,000 after purchasing an additional 399,627 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in Ultra Clean by 17.5% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 629,800 shares of the semiconductor company’s stock valued at $19,284,000 after purchasing an additional 94,000 shares during the last quarter. State Street Corp lifted its holdings in shares of Ultra Clean by 14.0% in the 2nd quarter. State Street Corp now owns 601,912 shares of the semiconductor company’s stock worth $11,285,000 after acquiring an additional 74,084 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in Ultra Clean by 2,868.6% during the 2nd quarter. Nordea Investment Management AB now owns 359,200 shares of the semiconductor company’s stock valued at $6,735,000 after buying an additional 347,100 shares in the last quarter. Institutional investors and hedge funds own 75.48% of the company’s stock.

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Ultra Clean 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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