Ultra Clean Holdings, Inc. (UCTT) Downgraded by Zacks Investment Research to Hold
Zacks Investment Research cut shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT) from a buy rating to a hold rating in a research note issued to investors on Saturday.
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 brokerages have also recently issued reports on UCTT. Needham & Company LLC upped their target price on Ultra Clean Holdings from $22.00 to $30.00 and gave the company a buy rating in a report on Friday, July 28th. ValuEngine cut Ultra Clean Holdings from a strong-buy rating to a buy rating in a report on Friday, October 13th. Craig Hallum upped their target price on Ultra Clean Holdings from $25.00 to $34.00 and gave the company a buy rating in a report on Friday, July 28th. Cowen and Company upped their target price on Ultra Clean Holdings from $28.00 to $32.00 and gave the company an outperform rating in a report on Wednesday, October 18th. Finally, Dougherty & Co upped their target price on Ultra Clean Holdings from $29.50 to $32.00 and gave the company a buy rating in a report on Friday, July 28th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of Buy and an average target price of $30.67.
Shares of Ultra Clean Holdings (NASDAQ:UCTT) opened at $23.96 on Friday. The company has a quick ratio of 1.09, a current ratio of 2.06 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $805.71, a price-to-earnings ratio of 11.34, a price-to-earnings-growth ratio of 0.67 and a beta of 1.11. Ultra Clean Holdings has a twelve month low of $8.81 and a twelve month high of $34.59.
Ultra Clean Holdings (NASDAQ:UCTT) last issued its earnings results on Wednesday, October 25th. The semiconductor company reported $0.62 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.02). The company had revenue of $242.60 million during the quarter, compared to analysts’ expectations of $239.11 million. Ultra Clean Holdings had a net margin of 7.55% and a return on equity of 28.77%. The firm’s quarterly revenue was up 65.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.17 earnings per share. equities research analysts anticipate that Ultra Clean Holdings will post 2.34 earnings per share for the current year.
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In other news, SVP David Speirs sold 19,029 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $24.04, for a total transaction of $457,457.16. Following the completion of the transaction, the senior vice president now directly owns 100,879 shares in the company, valued at approximately $2,425,131.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Ronald D’ercole sold 5,202 shares of the stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $24.49, for a total value of $127,396.98. Following the transaction, the senior vice president now owns 60,900 shares of the company’s stock, valued at $1,491,441. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,560 shares of company stock valued at $1,309,311. Company insiders own 2.60% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC purchased a new position in shares of Ultra Clean Holdings during the 3rd quarter worth $735,000. Allianz Asset Management GmbH grew its holdings in shares of Ultra Clean Holdings by 6.2% during the 3rd quarter. Allianz Asset Management GmbH now owns 246,871 shares of the semiconductor company’s stock worth $7,559,000 after purchasing an additional 14,382 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in shares of Ultra Clean Holdings by 102.4% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 221,470 shares of the semiconductor company’s stock worth $6,782,000 after purchasing an additional 112,030 shares during the period. Wells Fargo & Company MN boosted its holdings in Ultra Clean Holdings by 981.9% during the 3rd quarter. Wells Fargo & Company MN now owns 347,374 shares of the semiconductor company’s stock valued at $10,637,000 after acquiring an additional 315,266 shares during the period. Finally, Virginia Retirement Systems ET AL purchased a new position in Ultra Clean Holdings during the 3rd quarter valued at about $2,192,000. Institutional investors and hedge funds own 75.67% of the company’s stock.
Ultra Clean Holdings Company Profile
Ultra Clean Holdings, Inc is engaged in the design, engineering and manufacture of production tools, modules and subsystems the semiconductor capital equipment industry. The Company’s products include precision robotic solutions; gas delivery systems; a range of industrial and automation production equipment products; subsystems that includes wafer cleaning sub-systems, chemical delivery modules, top-plate assemblies, frame assemblies, and process modules.
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