Ultra Clean (NASDAQ:UCTT) was upgraded by research analysts at Cowen from a “market perform” rating to an “outperform” rating in a report issued on Thursday. The firm presently has a $32.00 price target on the semiconductor company’s stock. Cowen’s target price would indicate a potential upside of 28.10% from the stock’s previous close.

Several other research analysts also recently weighed in on the company. Needham & Company LLC upped their price target on Ultra Clean from $30.00 to $36.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 13th. Dougherty & Co upped their price target on Ultra Clean from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, October 24th. ValuEngine downgraded Ultra Clean from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 13th. Zacks Investment Research downgraded Ultra Clean from a “buy” rating to a “hold” rating in a research note on Saturday, November 11th. Finally, Stifel Nicolaus upgraded Ultra Clean from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Monday, December 4th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Ultra Clean currently has a consensus rating of “Buy” and a consensus price target of $31.50.

Shares of Ultra Clean (UCTT) traded up $1.32 during trading hours on Thursday, hitting $24.98. The company had a trading volume of 1,205,900 shares, compared to its average volume of 1,600,255. The company has a market cap of $840.01, a P/E ratio of 13.29, a PEG ratio of 0.63 and a beta of 1.02. The company has a current ratio of 2.06, a quick ratio of 1.09 and a debt-to-equity ratio of 0.15. Ultra Clean has a 52 week low of $11.86 and a 52 week high of $34.59.

Ultra Clean (NASDAQ:UCTT) last announced its quarterly earnings data on Wednesday, October 25th. The semiconductor company reported $0.62 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.02). The company had revenue of $242.60 million for the quarter, compared to the consensus estimate of $239.11 million. Ultra Clean had a net margin of 7.55% and a return on equity of 28.77%. The company’s revenue was up 65.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.17 earnings per share. research analysts predict that Ultra Clean will post 2.34 EPS for the current year.

In other news, Director David T. Ibnale sold 12,500 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $21.58, for a total transaction of $269,750.00. Following the sale, the director now directly owns 63,500 shares of the company’s stock, valued at approximately $1,370,330. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Ronald D’ercole sold 3,009 shares of the company’s stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $21.41, for a total value of $64,422.69. Following the sale, the senior vice president now directly owns 58,909 shares in the company, valued at $1,261,241.69. The disclosure for this sale can be found here. Insiders sold a total of 39,785 shares of company stock valued at $1,037,188 over the last 90 days. 2.60% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Schwab Charles Investment Management Inc. raised its holdings in shares of Ultra Clean by 15.2% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 255,210 shares of the semiconductor company’s stock worth $5,893,000 after acquiring an additional 33,740 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of Ultra Clean during the 4th quarter worth approximately $337,000. GSA Capital Partners LLP raised its holdings in shares of Ultra Clean by 16.3% during the 3rd quarter. GSA Capital Partners LLP now owns 126,320 shares of the semiconductor company’s stock worth $3,868,000 after acquiring an additional 17,724 shares in the last quarter. Delphi Management Inc. MA raised its holdings in shares of Ultra Clean by 12.1% during the 3rd quarter. Delphi Management Inc. MA now owns 88,381 shares of the semiconductor company’s stock worth $2,706,000 after acquiring an additional 9,545 shares in the last quarter. Finally, Moors & Cabot Inc. purchased a new stake in shares of Ultra Clean during the 3rd quarter worth approximately $248,000. 75.48% of the stock is currently owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY NOTICE: This article was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this article on another site, it was illegally copied and republished in violation of U.S. & international copyright and trademark legislation. The correct version of this article can be viewed at https://www.thecerbatgem.com/2018/01/18/cowen-upgrades-ultra-clean-uctt-to-outperform.html.

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.

Analyst Recommendations for Ultra Clean (NASDAQ:UCTT)

Receive News & Ratings for Ultra Clean Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ultra Clean and related companies with MarketBeat.com's FREE daily email newsletter.