Ultra Clean (NASDAQ:UCTT) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Ultra Clean (NASDAQ:UCTT) from a hold rating to a strong-buy rating in a report released on Saturday, Zacks.com reports. They currently have $25.00 price objective on the semiconductor company’s stock.

According to Zacks, “ULTRA CLEAN HOLDINGS, INC. is a developer and supplier of critical subsystems for the semiconductor capital equipment, flat panel, solar and medical device industries. Ultra Clean offers its customers an integrated outsourced solution for gas delivery systems and other subassemblies, improved design-to-delivery cycle times, component neutral design and manufacturing and component testing capabilities. Ultra Clean’s customers are primarily original equipment manufacturers for the semiconductor capital equipment, flat panel, solar and medical device industries. Ultra Clean is headquartered in Menlo Park, California. “

Several other research firms have also issued reports on UCTT. Standpoint Research lowered shares of Ultra Clean from a buy rating to a hold rating in a research report on Friday, November 1st. BidaskClub lowered shares of Ultra Clean from a strong-buy rating to a buy rating in a research report on Saturday. ValuEngine lowered shares of Ultra Clean from a hold rating to a sell rating in a research report on Friday, January 3rd. Cowen lowered shares of Ultra Clean from an outperform rating to a market perform rating and dropped their price target for the stock from $20.00 to $18.00 in a research report on Wednesday, September 25th. Finally, Stifel Nicolaus lowered shares of Ultra Clean from a buy rating to a hold rating in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $20.33.

Shares of UCTT stock opened at $22.20 on Friday. The company’s fifty day simple moving average is $22.70 and its 200-day simple moving average is $17.35. The company has a quick ratio of 1.78, a current ratio of 2.72 and a debt-to-equity ratio of 0.72. The firm has a market cap of $863.39 million, a PE ratio of 13.37, a P/E/G ratio of 1.11 and a beta of 1.21. Ultra Clean has a 12 month low of $8.86 and a 12 month high of $24.24.

Ultra Clean (NASDAQ:UCTT) last posted its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.05. Ultra Clean had a negative net margin of 0.02% and a positive return on equity of 7.39%. The firm had revenue of $254.30 million for the quarter, compared to analyst estimates of $244.99 million. During the same period in the prior year, the firm posted $0.30 earnings per share. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, equities analysts predict that Ultra Clean will post 0.95 earnings per share for the current fiscal year.

In other Ultra Clean news, insider William Joe Williams sold 16,638 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $17.00, for a total value of $282,846.00. Following the transaction, the insider now directly owns 82,001 shares in the company, valued at $1,394,017. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Leonid Mezhvinsky sold 22,500 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $22.10, for a total transaction of $497,250.00. Following the completion of the transaction, the director now owns 26,399 shares in the company, valued at $583,417.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,788 shares of company stock worth $1,543,521. Corporate insiders own 1.80% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Morgan Stanley increased its holdings in shares of Ultra Clean by 605.3% in the second quarter. Morgan Stanley now owns 174,529 shares of the semiconductor company’s stock valued at $2,429,000 after purchasing an additional 149,783 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of Ultra Clean by 9.5% in the third quarter. California Public Employees Retirement System now owns 184,027 shares of the semiconductor company’s stock valued at $2,693,000 after acquiring an additional 16,025 shares in the last quarter. State Street Corp grew its stake in shares of Ultra Clean by 1.4% in the third quarter. State Street Corp now owns 1,326,928 shares of the semiconductor company’s stock valued at $19,420,000 after acquiring an additional 17,844 shares in the last quarter. Millennium Management LLC grew its stake in shares of Ultra Clean by 3.4% in the third quarter. Millennium Management LLC now owns 309,582 shares of the semiconductor company’s stock valued at $4,530,000 after acquiring an additional 10,254 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY grew its stake in shares of Ultra Clean by 9.6% in the third quarter. Metropolitan Life Insurance Co NY now owns 11,887 shares of the semiconductor company’s stock valued at $174,000 after acquiring an additional 1,045 shares in the last quarter. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Ultra Clean Company Profile

Ultra Clean Holdings, Inc designs, develops, prototypes, engineers, manufactures, and tests production tools, modules, and subsystems for the semiconductor and display capital equipment industries primarily in North America, Asia, and Europe. It offers precision robotic systems that are used when accurate controlled motion is required; gas delivery systems, which include one or more gas lines consisting of small diameter internally polished stainless steel tubing products, filters, mass flow controllers, regulators, pressure transducers and valves, component heaters, and an integrated electronic and/or pneumatic control system; and various industrial and automation production equipment products.

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