Ultra Clean (NASDAQ:UCTT) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Ultra Clean (NASDAQ:UCTT) had its target price boosted by research analysts at Needham & Company LLC from $26.00 to $30.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price target would indicate a potential upside of 27.17% from the stock’s current price.

A number of other equities research analysts have also issued reports on UCTT. TD Cowen cut their target price on Ultra Clean from $48.00 to $32.00 and set a “buy” rating on the stock in a research report on Tuesday, April 29th. Oppenheimer cut their target price on Ultra Clean from $60.00 to $30.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. Finally, Wall Street Zen lowered Ultra Clean from a “hold” rating to a “sell” rating in a research report on Wednesday, April 30th.

Ultra Clean Trading Down 4.0%

Shares of Ultra Clean stock opened at $23.59 on Tuesday. The company has a quick ratio of 1.83, a current ratio of 3.06 and a debt-to-equity ratio of 0.59. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -6.98, a price-to-earnings-growth ratio of 0.96 and a beta of 2.07. The business has a fifty day simple moving average of $22.40 and a 200-day simple moving average of $25.36. Ultra Clean has a fifty-two week low of $16.66 and a fifty-two week high of $44.00.

Ultra Clean (NASDAQ:UCTT) last announced its quarterly earnings data on Monday, July 28th. The semiconductor company reported $0.27 earnings per share for the quarter, meeting the consensus estimate of $0.27. The business had revenue of $518.80 million during the quarter, compared to analyst estimates of $500.83 million. Ultra Clean had a positive return on equity of 5.32% and a negative net margin of 7.15%. The company’s revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.32 earnings per share. On average, equities analysts forecast that Ultra Clean will post 1.09 EPS for the current fiscal year.

Insider Transactions at Ultra Clean

In other news, SVP Jamie J. Palfrey sold 9,500 shares of the business’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $19.20, for a total transaction of $182,400.00. Following the sale, the senior vice president directly owned 30,465 shares of the company’s stock, valued at $584,928. The trade was a 23.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey L. Mckibben sold 6,294 shares of the company’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $20.87, for a total value of $131,355.78. Following the transaction, the insider directly owned 21,996 shares in the company, valued at $459,056.52. The trade was a 22.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,878 shares of company stock valued at $399,765 over the last three months. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Ethic Inc. raised its position in Ultra Clean by 48.0% during the second quarter. Ethic Inc. now owns 21,852 shares of the semiconductor company’s stock valued at $497,000 after buying an additional 7,086 shares during the period. Morgan Dempsey Capital Management LLC raised its position in Ultra Clean by 41.8% during the second quarter. Morgan Dempsey Capital Management LLC now owns 8,594 shares of the semiconductor company’s stock valued at $194,000 after buying an additional 2,534 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Ultra Clean during the second quarter valued at $244,000. CWM LLC raised its position in Ultra Clean by 144.8% during the second quarter. CWM LLC now owns 11,569 shares of the semiconductor company’s stock valued at $261,000 after buying an additional 6,844 shares during the period. Finally, Inspire Investing LLC acquired a new position in Ultra Clean during the second quarter valued at $390,000. 96.06% of the stock is owned by institutional investors and hedge funds.

About Ultra Clean

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.