TD Cowen Cuts Ultra Clean (NASDAQ:UCTT) Price Target to $32.00

Ultra Clean (NASDAQ:UCTT) had its price target cut by TD Cowen from $48.00 to $32.00 in a report issued on Tuesday, MarketBeat.com reports. They currently have a buy rating on the semiconductor company’s stock.

Other analysts also recently issued research reports about the company. Oppenheimer cut their price target on Ultra Clean from $60.00 to $30.00 and set an “outperform” rating on the stock in a research note on Friday, April 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price objective on shares of Ultra Clean in a research report on Thursday, March 6th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Ultra Clean presently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

Ultra Clean Stock Down 0.3 %

Shares of NASDAQ:UCTT opened at $18.65 on Tuesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.63 and a current ratio of 2.75. Ultra Clean has a 52-week low of $16.66 and a 52-week high of $56.47. The firm has a market capitalization of $841.71 million, a P/E ratio of 233.15, a P/E/G ratio of 0.51 and a beta of 2.14. The stock has a 50 day moving average price of $22.04 and a 200-day moving average price of $31.79.

Ultra Clean (NASDAQ:UCTT) last released its earnings results on Monday, April 28th. The semiconductor company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.03). Ultra Clean had a return on equity of 4.08% and a net margin of 0.18%. The business had revenue of $518.60 million during the quarter, compared to analysts’ expectations of $526.13 million. During the same period in the prior year, the company earned $0.27 earnings per share. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Ultra Clean will post 1.09 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Bill Bentinck acquired 3,000 shares of the stock in a transaction dated Friday, March 7th. The stock was acquired at an average cost of $25.17 per share, with a total value of $75,510.00. Following the purchase, the insider now directly owns 60,695 shares of the company’s stock, valued at approximately $1,527,693.15. This trade represents a 5.20 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ernest E. Maddock bought 10,000 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were bought at an average cost of $24.29 per share, for a total transaction of $242,900.00. Following the transaction, the director now owns 11,000 shares in the company, valued at approximately $267,190. The trade was a 1,000.00 % increase in their position. The disclosure for this purchase can be found here. 2.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Shapiro Capital Management LLC lifted its stake in Ultra Clean by 66.8% in the fourth quarter. Shapiro Capital Management LLC now owns 2,746,482 shares of the semiconductor company’s stock worth $98,736,000 after purchasing an additional 1,099,899 shares during the last quarter. Boston Partners raised its holdings in shares of Ultra Clean by 227.1% in the fourth quarter. Boston Partners now owns 1,035,214 shares of the semiconductor company’s stock worth $37,625,000 after buying an additional 718,717 shares during the period. Goodman Financial Corp bought a new stake in shares of Ultra Clean during the 4th quarter worth approximately $13,900,000. Nuveen Asset Management LLC boosted its holdings in Ultra Clean by 41.3% during the 4th quarter. Nuveen Asset Management LLC now owns 714,504 shares of the semiconductor company’s stock valued at $25,686,000 after acquiring an additional 208,910 shares during the period. Finally, Oberweis Asset Management Inc. boosted its holdings in Ultra Clean by 39.4% during the 4th quarter. Oberweis Asset Management Inc. now owns 613,300 shares of the semiconductor company’s stock valued at $22,048,000 after acquiring an additional 173,200 shares during the period. Institutional investors 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.