Ultra Clean (NASDAQ:UCTT) was upgraded by stock analysts at Cowen from a “market perform” rating to an “outperform” rating in a research report issued on Thursday, Marketbeat reports. The brokerage currently has a $32.00 target price on the semiconductor company’s stock. Cowen’s price objective suggests a potential upside of 19.05% from the stock’s previous close.

Other analysts have also recently issued reports about the company. ValuEngine cut Ultra Clean from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 13th. Zacks Investment Research upgraded Ultra Clean from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Wednesday, December 20th. Stifel Nicolaus upgraded Ultra Clean from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Monday, December 4th. Needham & Company LLC cut their price objective on Ultra Clean from $36.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, October 26th. Finally, Dougherty & Co boosted their price objective on Ultra Clean from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, October 24th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $31.50.

Shares of Ultra Clean (NASDAQ:UCTT) traded up $1.90 during mid-day trading on Thursday, reaching $26.88. The company had a trading volume of 3,623,428 shares, compared to its average volume of 1,280,000. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.09 and a current ratio of 2.06. The stock has a market capitalization of $903.90, a PE ratio of 14.30, a P/E/G ratio of 0.63 and a beta of 1.02. Ultra Clean has a 52 week low of $11.86 and a 52 week high of $34.59.

Ultra Clean (NASDAQ:UCTT) last announced its quarterly earnings results 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 company had revenue of $242.60 million for the quarter, compared to analysts’ expectations of $239.11 million. Ultra Clean had a net margin of 7.55% and a return on equity of 28.77%. The firm’s revenue was up 65.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.17 earnings per share. research analysts anticipate that Ultra Clean will post 2.34 EPS for the current year.

In other news, SVP Ronald D’ercole sold 5,202 shares of Ultra Clean stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $24.49, for a total value of $127,396.98. Following the sale, the senior vice president now directly owns 60,900 shares of the company’s stock, valued at $1,491,441. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David T. Ibnale sold 12,500 shares of Ultra Clean stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $21.58, for a total value of $269,750.00. Following the completion of the sale, the director now directly owns 63,500 shares in the company, valued at $1,370,330. The disclosure for this sale can be found here. Insiders sold 39,785 shares of company stock worth $1,037,188 over the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Several large investors have recently modified their holdings of UCTT. SG Americas Securities LLC acquired a new stake in shares of Ultra Clean in the third quarter worth approximately $120,000. Legal & General Group Plc boosted its stake in shares of Ultra Clean by 4.2% in the second 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. Greenwood Capital Associates LLC acquired a new position in Ultra Clean during the third quarter worth $226,000. Principal Financial Group Inc. acquired a new position in Ultra Clean during the second quarter worth $228,000. Finally, Cetera Advisors LLC acquired a new position in Ultra Clean during the third quarter worth $234,000. 75.48% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Ultra Clean (NASDAQ:UCTT)

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