Ultra Clean (NASDAQ:UCTT) PT Lowered to $57.00 at TD Cowen

Ultra Clean (NASDAQ:UCTT) had its price target decreased by TD Cowen from $60.00 to $57.00 in a research report report published on Tuesday morning, Benzinga reports. TD Cowen currently has a buy rating on the semiconductor company’s stock.

Other research analysts have also issued research reports about the stock. Oppenheimer initiated coverage on shares of Ultra Clean in a research report on Wednesday, September 25th. They set an “outperform” rating and a $70.00 target price for the company. Needham & Company LLC cut their price objective on Ultra Clean from $50.00 to $44.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Craig Hallum raised their target price on Ultra Clean from $52.00 to $60.00 and gave the company a “buy” rating in a report on Friday, July 26th. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Ultra Clean has an average rating of “Buy” and a consensus price target of $57.75.

Ultra Clean Stock Performance

UCTT opened at $35.12 on Tuesday. The stock has a 50-day moving average of $36.67 and a 200-day moving average of $42.09. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.60 and a current ratio of 2.73. Ultra Clean has a 52-week low of $23.26 and a 52-week high of $56.47. The company has a market cap of $1.57 billion, a PE ratio of -42.83 and a beta of 2.08.

Ultra Clean (NASDAQ:UCTT) last announced its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.33 by $0.02. Ultra Clean had a positive return on equity of 2.59% and a negative net margin of 0.46%. The company had revenue of $540.40 million for the quarter, compared to the consensus estimate of $515.88 million. During the same quarter last year, the company posted ($0.03) earnings per share. The company’s revenue for the quarter was up 24.2% compared to the same quarter last year. As a group, equities research analysts forecast that Ultra Clean will post 1.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in UCTT. Vanguard Group Inc. grew its position in Ultra Clean by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 4,360,555 shares of the semiconductor company’s stock worth $148,869,000 after buying an additional 148,819 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Ultra Clean by 19.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,164 shares of the semiconductor company’s stock worth $108,000 after purchasing an additional 514 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Ultra Clean during the first quarter valued at approximately $96,000. BNP Paribas Financial Markets raised its stake in shares of Ultra Clean by 32.2% in the first quarter. BNP Paribas Financial Markets now owns 29,679 shares of the semiconductor company’s stock valued at $1,363,000 after purchasing an additional 7,233 shares in the last quarter. Finally, Texas Permanent School Fund Corp lifted its position in Ultra Clean by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 39,236 shares of the semiconductor company’s stock worth $1,803,000 after purchasing an additional 525 shares during the period. 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.