Ultra Clean (NASDAQ:UCTT) Cut to Hold at BidaskClub

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BidaskClub cut shares of Ultra Clean (NASDAQ:UCTT) from a buy rating to a hold rating in a report published on Saturday morning, BidAskClub reports.

UCTT has been the topic of several other reports. Zacks Investment Research lowered shares of Ultra Clean from a hold rating to a sell rating in a research report on Saturday, July 27th. Cowen reiterated an outperform rating and issued a $20.00 price objective (up from $16.00) on shares of Ultra Clean in a report on Friday, May 3rd. ValuEngine upgraded shares of Ultra Clean from a hold rating to a buy rating in a report on Wednesday, July 24th. Finally, Dougherty & Co reiterated a buy rating and issued a $18.50 price objective (up from $17.00) on shares of Ultra Clean in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. Ultra Clean has an average rating of Buy and a consensus target price of $17.63.

NASDAQ UCTT opened at $13.39 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.93 and a quick ratio of 1.88. The stock’s fifty day moving average price is $13.95. Ultra Clean has a 1 year low of $6.94 and a 1 year high of $15.94. The company has a market capitalization of $559.72 million, a price-to-earnings ratio of 8.07, a P/E/G ratio of 1.21 and a beta of 1.06.

Ultra Clean (NASDAQ:UCTT) last posted its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.03. Ultra Clean had a negative net margin of 0.66% and a positive return on equity of 8.16%. The firm had revenue of $265.40 million for the quarter, compared to analyst estimates of $255.42 million. During the same period in the prior year, the firm posted $0.55 earnings per share. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. As a group, sell-side analysts expect that Ultra Clean will post 0.8 EPS for the current fiscal year.

In related news, SVP Joan Sterling sold 38,384 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $13.49, for a total value of $517,800.16. Following the transaction, the senior vice president now directly owns 45,518 shares in the company, valued at $614,037.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Clarence L. Granger purchased 21,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was acquired at an average price of $13.49 per share, for a total transaction of $283,290.00. Following the completion of the purchase, the director now directly owns 170,098 shares of the company’s stock, valued at approximately $2,294,622.02. The disclosure for this purchase can be found here. 1.80% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. LPL Financial LLC purchased a new stake in shares of Ultra Clean during the 4th quarter valued at $123,000. Bank of New York Mellon Corp grew its stake in shares of Ultra Clean by 10.2% during the 4th quarter. Bank of New York Mellon Corp now owns 559,545 shares of the semiconductor company’s stock valued at $4,739,000 after buying an additional 51,592 shares during the period. Geode Capital Management LLC grew its stake in shares of Ultra Clean by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 418,104 shares of the semiconductor company’s stock valued at $3,541,000 after buying an additional 7,133 shares during the period. Metropolitan Life Insurance Co. NY grew its stake in shares of Ultra Clean by 273.4% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 12,360 shares of the semiconductor company’s stock valued at $105,000 after buying an additional 9,050 shares during the period. Finally, Jane Street Group LLC purchased a new stake in shares of Ultra Clean during the 4th quarter valued at $107,000. Institutional investors and hedge funds own 90.54% of the company’s stock.

Ultra Clean Company Profile

Ultra Clean Holdings, Inc designs, develops, prototypes, engineers, manufactures, and tests production tools, modules, and subsystems for the semiconductor and display capital equipment industries primarily in North America, Asia, and Europe. It offers precision robotic systems that are used when accurate controlled motion is required; gas delivery systems, which include one or more gas lines consisting of small diameter internally polished stainless steel tubing products, filters, mass flow controllers, regulators, pressure transducers and valves, component heaters, and an integrated electronic and/or pneumatic control system; and various industrial and automation production equipment products.

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Analyst Recommendations for Ultra Clean (NASDAQ:UCTT)

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