Needham & Company LLC Reaffirms Buy Rating for Ultra Clean (NASDAQ:UCTT)

Needham & Company LLC restated their buy rating on shares of Ultra Clean (NASDAQ:UCTT) in a research note released on Thursday morning,Benzinga reports. Needham & Company LLC currently has a $40.00 price target on the semiconductor company’s stock.

Ultra Clean Stock Down 1.5 %

Shares of Ultra Clean stock opened at $23.89 on Thursday. The stock has a market capitalization of $1.08 billion, a P/E ratio of 298.66, a PEG ratio of 0.51 and a beta of 2.09. Ultra Clean has a 12-month low of $22.85 and a 12-month high of $56.47. The company has a quick ratio of 1.63, a current ratio of 2.75 and a debt-to-equity ratio of 0.52. The stock has a 50 day moving average price of $35.55 and a two-hundred day moving average price of $36.32.

Institutional Trading of Ultra Clean

Several institutional investors have recently modified their holdings of UCTT. Summit Global Investments acquired a new stake in shares of Ultra Clean during the 3rd quarter valued at about $1,450,000. Weil Company Inc. boosted its stake in Ultra Clean by 18.2% in the 3rd quarter. Weil Company Inc. now owns 30,682 shares of the semiconductor company’s stock valued at $1,225,000 after buying an additional 4,723 shares in the last quarter. Aigen Investment Management LP bought a new stake in Ultra Clean in the third quarter valued at $229,000. Victory Capital Management Inc. grew its position in Ultra Clean by 6.8% in the third quarter. Victory Capital Management Inc. now owns 57,825 shares of the semiconductor company’s stock valued at $2,309,000 after acquiring an additional 3,681 shares during the period. Finally, Cornercap Investment Counsel Inc. acquired a new stake in shares of Ultra Clean in the 3rd quarter valued at $527,000. Institutional investors and hedge funds own 96.06% of the company’s stock.

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.