Ultra Clean (NASDAQ:UCTT) Price Target Raised to $60.00 at Craig Hallum

Ultra Clean (NASDAQ:UCTT) had its price target increased by Craig Hallum from $52.00 to $60.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

A number of other analysts have also commented on UCTT. Needham & Company LLC reissued a buy rating and issued a $56.00 target price on shares of Ultra Clean in a report on Friday. TD Cowen upped their target price on shares of Ultra Clean from $55.00 to $60.00 and gave the company a buy rating in a report on Friday. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $58.67.

Ultra Clean Price Performance

Shares of Ultra Clean stock opened at $45.81 on Friday. The company has a quick ratio of 1.58, a current ratio of 2.76 and a debt-to-equity ratio of 0.52. The firm has a market cap of $2.05 billion, a PE ratio of -55.87 and a beta of 2.13. Ultra Clean has a 12-month low of $22.15 and a 12-month high of $56.47. The company’s fifty day simple moving average is $48.57 and its two-hundred day simple moving average is $44.33.

Ultra Clean (NASDAQ:UCTT) last posted its earnings results on Thursday, July 25th. The semiconductor company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.06. The firm had revenue of $516.10 million for the quarter, compared to the consensus estimate of $490.06 million. Ultra Clean had a positive return on equity of 2.60% and a negative net margin of 0.46%. The business’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.16 EPS.

Insider Activity at Ultra Clean

In other Ultra Clean news, CFO Sheri Savage sold 15,319 shares of Ultra Clean stock in a transaction on Friday, June 7th. The shares were sold at an average price of $46.00, for a total value of $704,674.00. Following the completion of the transaction, the chief financial officer now directly owns 75,044 shares of the company’s stock, valued at approximately $3,452,024. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Ultra Clean news, CFO Sheri Savage sold 15,319 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $46.00, for a total transaction of $704,674.00. Following the sale, the chief financial officer now directly owns 75,044 shares in the company, valued at $3,452,024. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO James P. Scholhamer sold 26,608 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $55.10, for a total value of $1,466,100.80. Following the completion of the sale, the chief executive officer now directly owns 418,453 shares of the company’s stock, valued at $23,056,760.30. The disclosure for this sale can be found here. Insiders have sold a total of 110,314 shares of company stock valued at $5,370,214 over the last 90 days. 2.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ultra Clean

Several hedge funds and other institutional investors have recently made changes to their positions in UCTT. GAMMA Investing LLC boosted its stake in shares of Ultra Clean by 52.1% during the 2nd quarter. GAMMA Investing LLC now owns 622 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 213 shares during the period. CWM LLC lifted its stake in Ultra Clean by 46.3% in the second quarter. CWM LLC now owns 800 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 253 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Ultra Clean in the fourth quarter worth about $59,000. TFO Wealth Partners LLC boosted its position in shares of Ultra Clean by 27,160.0% during the fourth quarter. TFO Wealth Partners LLC now owns 2,726 shares of the semiconductor company’s stock valued at $93,000 after buying an additional 2,716 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Ultra Clean during the first quarter valued at approximately $96,000. Hedge funds and other 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.