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

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

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

Ultra Clean Stock Performance

UCTT opened at $44.07 on Tuesday. The firm has a market cap of $1.97 billion, a P/E ratio of -63.87 and a beta of 2.02. The business’s fifty day moving average is $43.73 and its 200-day moving average is $36.54. Ultra Clean has a 52-week low of $22.15 and a 52-week high of $49.25. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.67 and a current ratio of 2.88.

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

Hedge Funds Weigh In On Ultra Clean

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its holdings in Ultra Clean by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 545,815 shares of the semiconductor company’s stock worth $16,194,000 after purchasing an additional 24,673 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Ultra Clean by 4.7% in the third quarter. Vanguard Group Inc. now owns 4,211,736 shares of the semiconductor company’s stock valued at $124,962,000 after buying an additional 190,942 shares during the period. Qube Research & Technologies Ltd bought a new stake in Ultra Clean during the third quarter valued at $1,871,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Ultra Clean by 4.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,343 shares of the semiconductor company’s stock worth $695,000 after acquiring an additional 930 shares during the period. Finally, Swiss National Bank raised its position in shares of Ultra Clean by 0.7% in the 3rd quarter. Swiss National Bank now owns 98,200 shares of the semiconductor company’s stock worth $2,914,000 after acquiring an additional 700 shares in the last quarter. 96.06% of the stock is owned by institutional investors and hedge funds.

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.