Ultra Clean (UCTT) Upgraded by Zacks Investment Research to “Buy”
Ultra Clean (NASDAQ:UCTT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The brokerage presently has a $25.00 price objective on the semiconductor company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 11.61% from the stock’s previous close.
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. “
Other equities analysts have also recently issued reports about the company. Dougherty & Co raised their target price on Ultra Clean from $32.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, October 24th. Needham & Company LLC lowered their target price on Ultra Clean from $36.00 to $34.00 and set a “buy” rating for the company in a report on Thursday, October 26th. ValuEngine cut Ultra Clean from a “strong-buy” rating to a “buy” rating in a report on Friday, October 13th. Stifel Nicolaus upgraded Ultra Clean from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Monday, December 4th. Finally, Cowen raised their target price on Ultra Clean from $28.00 to $32.00 and gave the company an “outperform” rating in a report on Wednesday, October 18th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $31.17.
Ultra Clean (NASDAQ:UCTT) last released its quarterly earnings results on Wednesday, October 25th. The semiconductor company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.02). The business had revenue of $242.60 million for the quarter, compared to analysts’ expectations of $239.11 million. Ultra Clean had a return on equity of 28.77% and a net margin of 7.55%. The business’s revenue for the quarter was up 65.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.17 earnings per share. research analysts predict that Ultra Clean will post 2.34 earnings per share for the current year.
In related news, Director David T. Ibnale sold 12,500 shares of the firm’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $21.58, for a total transaction of $269,750.00. Following the completion of the transaction, the director now directly owns 63,500 shares in the company, valued at approximately $1,370,330. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Deborah E. Hayward sold 13,872 shares of the firm’s stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $32.48, for a total value of $450,562.56. Following the transaction, the insider now owns 61,702 shares of the company’s stock, valued at $2,004,080.96. The disclosure for this sale can be found here. Insiders have sold a total of 38,233 shares of company stock valued at $1,017,160 over the last 90 days. 2.60% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of UCTT. Vanguard Group Inc. raised its position in Ultra Clean by 32.3% in the 2nd quarter. Vanguard Group Inc. now owns 1,636,857 shares of the semiconductor company’s stock valued at $30,691,000 after purchasing an additional 399,627 shares in the last quarter. Nordea Investment Management AB raised its position in Ultra Clean by 2,868.6% in the 2nd quarter. Nordea Investment Management AB now owns 359,200 shares of the semiconductor company’s stock valued at $6,735,000 after purchasing an additional 347,100 shares in the last quarter. Wells Fargo & Company MN raised its position in Ultra Clean by 981.9% in the 3rd quarter. Wells Fargo & Company MN now owns 347,374 shares of the semiconductor company’s stock valued at $10,637,000 after purchasing an additional 315,266 shares in the last quarter. PDT Partners LLC acquired a new stake in Ultra Clean in the 2nd quarter valued at about $5,381,000. Finally, Numeric Investors LLC acquired a new stake in Ultra Clean in the 2nd quarter valued at about $3,632,000. 75.48% of the stock is currently owned by institutional investors.
About Ultra Clean
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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