Ultra Clean Holdings, Inc. (UCTT) Cut to “Buy” at ValuEngine
ValuEngine downgraded shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT) from a strong-buy rating to a buy rating in a research note published on Tuesday, July 11th.
Several other equities analysts also recently weighed in on the company. Stifel Nicolaus raised their target price on Ultra Clean Holdings from $18.00 to $20.00 and gave the company a hold rating in a research report on Monday, July 10th. Zacks Investment Research downgraded Ultra Clean Holdings from a strong-buy rating to a hold rating in a research report on Wednesday, June 28th. Cowen and Company began coverage on Ultra Clean Holdings in a research report on Thursday, June 15th. They issued a market perform rating and a $26.00 target price on the stock. Finally, Needham & Company LLC raised their target price on Ultra Clean Holdings from $18.00 to $22.00 and gave the company a buy rating in a research report on Thursday, April 27th. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $27.83.
Shares of Ultra Clean Holdings (UCTT) opened at 20.88 on Tuesday. The company has a market cap of $698.06 million, a P/E ratio of 15.11 and a beta of 1.19. The firm has a 50-day moving average price of $21.59 and a 200-day moving average price of $17.96. Ultra Clean Holdings has a 1-year low of $5.94 and a 1-year high of $26.21.
Ultra Clean Holdings (NASDAQ:UCTT) last issued its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.11. The company had revenue of $228.26 million for the quarter, compared to the consensus estimate of $213.92 million. Ultra Clean Holdings had a return on equity of 25.19% and a net margin of 6.25%. Ultra Clean Holdings’s revenue for the quarter was up 75.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.10 earnings per share. On average, equities analysts expect that Ultra Clean Holdings will post $2.28 EPS for the current year.
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In related news, CFO Sheri Brumm sold 20,512 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $22.85, for a total value of $468,699.20. Following the completion of the sale, the chief financial officer now owns 170,939 shares of the company’s stock, valued at $3,905,956.15. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Leonid Mezhvinsky sold 6,800 shares of the stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $23.26, for a total value of $158,168.00. Following the completion of the sale, the director now directly owns 33,500 shares of the company’s stock, valued at approximately $779,210. The disclosure for this sale can be found here. In the last ninety days, insiders sold 94,484 shares of company stock valued at $2,119,172. Insiders own 2.60% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its stake in Ultra Clean Holdings by 186.6% in the fourth quarter. Renaissance Technologies LLC now owns 763,500 shares of the semiconductor company’s stock valued at $7,406,000 after buying an additional 497,100 shares during the period. Dimensional Fund Advisors LP boosted its stake in Ultra Clean Holdings by 21.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,779,331 shares of the semiconductor company’s stock valued at $46,886,000 after buying an additional 488,054 shares during the period. ClariVest Asset Management LLC boosted its stake in Ultra Clean Holdings by 1,231.9% in the second quarter. ClariVest Asset Management LLC now owns 479,084 shares of the semiconductor company’s stock valued at $8,982,000 after buying an additional 443,115 shares during the period. Bank of Montreal Can boosted its stake in Ultra Clean Holdings by 97,560.0% in the second quarter. Bank of Montreal Can now owns 442,400 shares of the semiconductor company’s stock valued at $8,295,000 after buying an additional 441,947 shares during the period. Finally, Neuberger Berman Group LLC acquired a new stake in Ultra Clean Holdings during the first quarter valued at about $6,748,000. 83.44% of the stock is owned by institutional investors.
About Ultra Clean Holdings
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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