Zacks Investment Research Lowers Ultra Clean (UCTT) to Hold

Zacks Investment Research cut shares of Ultra Clean (NASDAQ:UCTT) from a buy rating to a hold rating in a research report released on Saturday morning. The firm currently has $30.00 target price on the semiconductor company’s 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. “

A number of other research firms have also weighed in on UCTT. Cowen increased 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. ValuEngine lowered shares of Ultra Clean from a strong-buy rating to a buy rating in a research note on Friday, October 13th. Dougherty & Co increased their price target on shares of Ultra Clean from $32.00 to $35.00 and gave the stock a buy rating in a report on Tuesday, October 24th. Needham & Company LLC lowered their price target on shares of Ultra Clean from $36.00 to $34.00 and set a buy rating on the stock in a report on Thursday, October 26th. Finally, Stifel Nicolaus raised shares of Ultra Clean from a hold rating to a buy rating and set a $27.00 price target on the stock in a report on Monday, December 4th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $32.00.

Ultra Clean (NASDAQ:UCTT) traded down $0.21 during trading hours on Friday, hitting $26.67. 1,658,901 shares of the stock were exchanged, compared to its average volume of 1,406,811. The firm has a market capitalization of $896.83, a price-to-earnings ratio of 12.88, a P/E/G ratio of 0.70 and a beta of 1.02. Ultra Clean has a 1 year low of $11.86 and a 1 year high of $34.59. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.06 and a quick ratio of 1.09.

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 Zacks’ consensus estimate of $0.64 by ($0.02). The business had revenue of $242.60 million during 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 was up 65.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.17 EPS. equities research analysts forecast that Ultra Clean will post 2.34 EPS for the current fiscal year.

In related news, SVP Ronald D’ercole sold 3,009 shares of the stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $21.41, for a total transaction of $64,422.69. Following the sale, the senior vice president now directly owns 58,909 shares of the company’s stock, valued at $1,261,241.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction, 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 have sold 39,785 shares of company stock worth $1,037,188 over the last three months. 2.60% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Legal & General Group Plc lifted its holdings in Ultra Clean by 4.2% during the second 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 lifted its holdings in Ultra Clean by 1.7% during the second 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 lifted its holdings in Ultra Clean by 1.3% during the second 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 in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Ultra Clean by 1.6% during the second 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 in the last quarter. Finally, Chicago Equity Partners LLC lifted its holdings in Ultra Clean by 3.1% during the third quarter. Chicago Equity Partners LLC now owns 102,310 shares of the semiconductor company’s stock valued at $3,133,000 after purchasing an additional 3,115 shares in the last quarter. 75.48% of the stock is currently owned by institutional investors and hedge funds.

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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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