Ultra Clean (UCTT) Stock Rating Lowered by Zacks Investment Research

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

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. “

UCTT has been the topic of several other reports. Dougherty & Co boosted their price target on Ultra Clean from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, October 24th. Needham & Company LLC reduced their price target on Ultra Clean from $36.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, October 26th. ValuEngine lowered Ultra Clean from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 13th. Stifel Nicolaus raised Ultra Clean from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Monday, December 4th. Finally, Cowen boosted their price target on Ultra Clean from $28.00 to $32.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 18th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Ultra Clean presently has an average rating of “Buy” and an average price target of $31.50.

Ultra Clean (NASDAQ:UCTT) traded down $0.21 during trading on Friday, reaching $26.67. The company had a trading volume of 1,660,000 shares, compared to its average volume of 1,330,000. The firm has a market cap of $889.83, a price-to-earnings ratio of 14.19, a PEG ratio of 0.71 and a beta of 1.02. The company has a quick ratio of 1.09, a current ratio of 2.06 and a debt-to-equity ratio of 0.15. Ultra Clean has a 12-month low of $11.86 and a 12-month high of $34.59.

Ultra Clean (NASDAQ:UCTT) last released its quarterly earnings results on Wednesday, October 25th. The semiconductor company reported $0.62 EPS 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 analyst estimates 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 was up 65.9% on a year-over-year basis. During the same period last year, the firm posted $0.17 earnings per share. sell-side analysts anticipate that Ultra Clean will post 2.34 earnings per share for the current year.

In other Ultra Clean news, SVP Joan Sterling sold 5,202 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $24.04, for a total value of $125,056.08. Following the transaction, the senior vice president now directly owns 64,932 shares of the company’s stock, valued at approximately $1,560,965.28. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Ronald D’ercole sold 3,009 shares of the company’s stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $21.41, for a total value of $64,422.69. Following the completion of the transaction, the senior vice president now directly owns 58,909 shares in the company, valued at $1,261,241.69. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,785 shares of company stock worth $1,037,188. 2.60% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Legal & General Group Plc raised its position in shares of 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 in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of 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 in the last quarter. California Public Employees Retirement System increased its holdings in shares of 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 acquiring an additional 1,400 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of 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 acquiring an additional 1,618 shares during the last quarter. Finally, Chicago Equity Partners LLC increased its holdings in shares of Ultra Clean by 3.1% in the 3rd quarter. Chicago Equity Partners LLC now owns 102,310 shares of the semiconductor company’s stock valued at $3,133,000 after acquiring an additional 3,115 shares during the last quarter. 75.48% of the stock is currently owned by institutional investors.

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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.

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