Needham & Company LLC Boosts Ultra Clean (NASDAQ:UCTT) Price Target to $56.00

Ultra Clean (NASDAQ:UCTT) had its price target upped by Needham & Company LLC from $50.00 to $56.00 in a research note published on Tuesday, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Separately, TD Cowen increased their price target on Ultra Clean from $47.00 to $55.00 and gave the stock a buy rating in a report on Tuesday. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Ultra Clean currently has a consensus rating of Moderate Buy and a consensus target price of $57.00.

Ultra Clean Stock Performance

Shares of Ultra Clean stock opened at $45.04 on Tuesday. Ultra Clean has a 1-year low of $22.15 and a 1-year high of $49.25. The company has a current ratio of 2.88, a quick ratio of 1.67 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average price of $43.78 and a two-hundred day moving average price of $36.65. The company has a market cap of $2.01 billion, a P/E ratio of -54.37 and a beta of 2.02.

Ultra Clean (NASDAQ:UCTT) last posted its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $0.12 earnings per share (EPS) for the quarter. The firm had revenue of $444.80 million for the quarter, compared to analysts’ expectations of $444.99 million. Ultra Clean had a positive return on equity of 1.69% and a negative net margin of 1.79%.

Institutional Investors Weigh In On Ultra Clean

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Meeder Asset Management Inc. purchased a new stake in shares of Ultra Clean in the fourth quarter worth approximately $59,000. Allspring Global Investments Holdings LLC bought a new position in Ultra Clean during the 1st quarter valued at $96,000. TFO Wealth Partners LLC grew its stake in shares of Ultra Clean by 27,160.0% in the 4th quarter. TFO Wealth Partners LLC now owns 2,726 shares of the semiconductor company’s stock worth $93,000 after acquiring an additional 2,716 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Ultra Clean by 19.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,164 shares of the semiconductor company’s stock valued at $108,000 after purchasing an additional 514 shares in the last quarter. Finally, Whalen Wealth Management Inc. purchased a new position in Ultra Clean during the first quarter worth about $237,000. Institutional investors and hedge funds own 96.06% of the company’s stock.

Ultra Clean Company Profile

Ultra Clean Holdings, Inc develops and supplies critical subsystems, components and parts, and ultra-high purity cleaning and analytical services for the semiconductor industry in the United States and internationally. The company provides ultra-clean valves, high purity connectors, industrial process connectors and valves, pneumatic actuators, manifolds and safety solutions, hoses, pressure gauges, and gas line and component heaters; chemical delivery modules that deliver gases and reactive chemicals in a liquid or gaseous form from a centralized subsystem to the reaction chamber; and gas delivery systems, such as weldments, filters, mass flow controllers, regulators, pressure transducers and valves, component heaters, and an integrated electronic and/or pneumatic control system.