Ultra Clean Holdings, Inc. (NASDAQ:UCTT) had its target price boosted by analysts at Needham & Company LLC from $30.00 to $36.00 in a report issued on Friday. The brokerage presently has a “strong-buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 7.14% from the company’s current price.

UCTT has been the topic of several other research reports. Cowen and Company began coverage on Ultra Clean Holdings in a report on Thursday, June 15th. They set a “market perform” rating and a $26.00 price objective on the stock. Stifel Nicolaus lifted their price objective on Ultra Clean Holdings from $18.00 to $20.00 and gave the company a “hold” rating in a report on Monday, July 10th. BidaskClub cut Ultra Clean Holdings from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Dougherty & Co lifted their price objective on Ultra Clean Holdings from $29.50 to $32.00 and gave the company a “buy” rating in a report on Friday, July 28th. Finally, ValuEngine upgraded Ultra Clean Holdings from a “buy” rating to a “strong-buy” rating in a report on Friday, June 16th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Ultra Clean Holdings currently has a consensus rating of “Buy” and a consensus target price of $28.83.

Ultra Clean Holdings (NASDAQ:UCTT) opened at 33.60 on Friday. The stock has a 50 day moving average price of $27.37 and a 200-day moving average price of $22.44. The firm has a market cap of $1.12 billion, a P/E ratio of 24.31 and a beta of 1.30. Ultra Clean Holdings has a one year low of $7.06 and a one year high of $33.90.

Ultra Clean Holdings (NASDAQ:UCTT) last released its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.11. Ultra Clean Holdings had a return on equity of 24.16% and a net margin of 6.25%. The business had revenue of $228.26 million for the quarter, compared to analysts’ expectations of $213.92 million. During the same quarter in the previous year, the business posted $0.10 EPS. Ultra Clean Holdings’s revenue for the quarter was up 75.8% on a year-over-year basis. Analysts predict that Ultra Clean Holdings will post $2.29 EPS for the current fiscal year.

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In other Ultra Clean Holdings news, CFO Sheri Brumm sold 20,512 shares of the business’s 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 sale, the chief financial officer now owns 170,939 shares in the company, valued at approximately $3,905,956.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Ronald D’ercole sold 1,457 shares of the business’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $30.47, for a total value of $44,394.79. Following the completion of the sale, the senior vice president now owns 69,233 shares in the company, valued at approximately $2,109,529.51. The disclosure for this sale can be found here. Insiders sold a total of 51,119 shares of company stock worth $1,203,079 in the last 90 days. Company insiders own 2.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System lifted its stake in Ultra Clean Holdings by 0.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 12,618 shares of the semiconductor company’s stock valued at $213,000 after acquiring an additional 69 shares in the last quarter. Legal & General Group Plc lifted its stake in Ultra Clean Holdings 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 acquiring an additional 314 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Ultra Clean Holdings 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 acquiring an additional 454 shares in the last quarter. American International Group Inc. lifted its stake in Ultra Clean Holdings by 7.1% in the 1st quarter. American International Group Inc. now owns 19,769 shares of the semiconductor company’s stock valued at $334,000 after acquiring an additional 1,313 shares in the last quarter. Finally, California Public Employees Retirement System lifted its stake in Ultra Clean Holdings 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 in the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Ultra Clean Holdings 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.

Analyst Recommendations for Ultra Clean Holdings (NASDAQ:UCTT)

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