Zacks Investment Research Lowers Ultra Clean (UCTT) to Hold
Zacks Investment Research lowered shares of Ultra Clean (NASDAQ:UCTT) from a buy rating to a hold rating in a research report report published on Saturday morning. The brokerage currently has $27.00 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. “
UCTT has been the subject of a number of other reports. Dougherty & Co increased their target price on Ultra Clean from $32.00 to $35.00 and gave the stock a buy rating in a research note on Tuesday, October 24th. Needham & Company LLC cut their target price on Ultra Clean from $36.00 to $34.00 and set a buy rating for the company in a research note on Thursday, October 26th. Cowen increased their target price on Ultra Clean from $28.00 to $32.00 and gave the stock an outperform rating in a research note on Wednesday, October 18th. Stifel Nicolaus raised Ultra Clean from a hold rating to a buy rating and set a $27.00 target price for the company in a research note on Monday, December 4th. Finally, ValuEngine downgraded Ultra Clean from a strong-buy rating to a buy rating in a research note on Friday, October 13th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $31.50.
Shares of Ultra Clean (UCTT) traded down $0.27 during mid-day trading on Friday, hitting $22.54. The stock had a trading volume of 1,019,800 shares, compared to its average volume of 2,112,867. The stock has a market cap of $752.92, a P/E ratio of 11.99, a price-to-earnings-growth ratio of 0.62 and a beta of 1.02. Ultra Clean has a fifty-two week low of $11.42 and a fifty-two week high of $34.59. The company has a current ratio of 2.06, a quick ratio of 1.09 and a debt-to-equity ratio of 0.15.
Ultra Clean (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 analysts’ consensus estimates of $0.64 by ($0.02). The business had revenue of $242.60 million for the quarter, compared to analysts’ expectations of $239.11 million. Ultra Clean had a return on equity of 28.77% and a net margin of 7.55%. The business’s quarterly revenue was up 65.9% on a year-over-year basis. During the same period last year, the company posted $0.17 earnings per share. analysts expect that Ultra Clean will post 2.34 earnings per share for the current year.
In related news, SVP Ronald D’ercole sold 5,202 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 60,900 shares of the company’s stock, valued at approximately $1,491,441. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David T. Ibnale sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $21.58, for a total value of $269,750.00. Following the completion of the transaction, the director now directly owns 63,500 shares of the company’s stock, valued at $1,370,330. The disclosure for this sale can be found here. Insiders sold a total of 39,785 shares of company stock valued at $1,037,188 over the last ninety days. 2.60% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UCTT. GSA Capital Partners LLP increased its position in Ultra Clean by 16.3% during the third quarter. GSA Capital Partners LLP now owns 126,320 shares of the semiconductor company’s stock worth $3,868,000 after buying an additional 17,724 shares in the last quarter. Delphi Management Inc. MA increased its position in Ultra Clean by 12.1% during the third quarter. Delphi Management Inc. MA now owns 88,381 shares of the semiconductor company’s stock worth $2,706,000 after buying an additional 9,545 shares in the last quarter. Moors & Cabot Inc. purchased a new position in Ultra Clean during the third quarter worth $248,000. Cetera Advisors LLC purchased a new position in Ultra Clean during the third quarter worth $234,000. Finally, California Public Employees Retirement System increased its position in Ultra Clean by 12.8% during the third quarter. California Public Employees Retirement System now owns 119,331 shares of the semiconductor company’s stock worth $3,654,000 after buying an additional 13,531 shares in the last quarter. 75.48% of the stock is owned by hedge funds and other institutional investors.
About Ultra Clean
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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