Zacks Investment Research upgraded shares of Ultra Clean Holdings Inc. (NASDAQ:UCTT) from a hold rating to a strong-buy rating in a research note published on Thursday. Zacks Investment Research currently has $8.00 price objective on the stock.
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. “
Several other research firms have also recently weighed in on UCTT. Needham & Company LLC increased their price objective on Ultra Clean Holdings from $7.00 to $8.50 and gave the stock a buy rating in a research report on Friday, July 29th. Dougherty & Co increased their price objective on Ultra Clean Holdings from $7.50 to $8.50 and gave the stock a buy rating in a research report on Friday, July 29th. Finally, Stifel Nicolaus cut Ultra Clean Holdings from a buy rating to a hold rating in a research report on Friday, July 8th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Ultra Clean Holdings currently has a consensus rating of Buy and an average target price of $8.00.
Shares of Ultra Clean Holdings (NASDAQ:UCTT) opened at 7.42 on Thursday. The stock has a 50 day moving average of $7.05 and a 200 day moving average of $6.00. The firm’s market cap is $241.62 million. Ultra Clean Holdings has a 52 week low of $4.50 and a 52 week high of $7.63.
Ultra Clean Holdings (NASDAQ:UCTT) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.02. The firm had revenue of $129.83 million for the quarter, compared to analysts’ expectations of $125.16 million. Ultra Clean Holdings had a positive return on equity of 2.07% and a negative net margin of 3.55%. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.10 EPS. Equities analysts forecast that Ultra Clean Holdings will post $0.33 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Ultra Clean Holdings by 810.9% in the second quarter. BlackRock Inc. now owns 17,900 shares of the company’s stock valued at $102,000 after buying an additional 15,935 shares during the period. Citadel Advisors LLC bought a new stake in Ultra Clean Holdings during the second quarter valued at about $103,000. A.R.T. Advisors LLC bought a new stake in Ultra Clean Holdings during the second quarter valued at about $131,000. Los Angeles Capital Management & Equity Research Inc. raised its stake in Ultra Clean Holdings by 1.8% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 24,850 shares of the company’s stock valued at $133,000 after buying an additional 430 shares during the period. Finally, Metropolitan Life Insurance Co. NY bought a new stake in Ultra Clean Holdings during the first quarter valued at about $135,000. 66.02% of the stock is currently owned by institutional investors.
Ultra Clean Holdings Company Profile
Ultra Clean Holdings, Inc is engaged in the design, engineering and manufacture of production tools, modules and subsystems. 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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