Ultra Clean (NASDAQ:UCTT) Price Target Increased to $56.00 by Analysts at Needham & Company LLC

Ultra Clean (NASDAQ:UCTT) had its price target lifted by Needham & Company LLC from $50.00 to $56.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Separately, TD Cowen raised their price objective on Ultra Clean from $47.00 to $55.00 and gave the company a buy rating in a research note on Tuesday. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $57.00.

Ultra Clean Trading Up 2.6 %

NASDAQ UCTT opened at $44.07 on Tuesday. The stock’s 50-day simple moving average is $43.73 and its two-hundred day simple moving average is $36.54. Ultra Clean has a twelve month low of $22.15 and a twelve month high of $49.25. The company has a quick ratio of 1.67, a current ratio of 2.88 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of -63.87 and a beta of 2.02.

Ultra Clean (NASDAQ:UCTT) last released its earnings results on Wednesday, February 21st. The semiconductor company reported $0.12 earnings per share for the quarter. The company had revenue of $444.80 million during the quarter, compared to the consensus estimate of $444.99 million. Ultra Clean had a positive return on equity of 1.69% and a negative net margin of 1.79%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of UCTT. Charles Schwab Investment Management Inc. grew its position in shares of Ultra Clean by 4.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 545,815 shares of the semiconductor company’s stock worth $16,194,000 after buying an additional 24,673 shares during the last quarter. Vanguard Group Inc. lifted its position in Ultra Clean by 4.7% during the third quarter. Vanguard Group Inc. now owns 4,211,736 shares of the semiconductor company’s stock valued at $124,962,000 after buying an additional 190,942 shares during the period. Qube Research & Technologies Ltd bought a new position in shares of Ultra Clean in the 3rd quarter worth about $1,871,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Ultra Clean by 4.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,343 shares of the semiconductor company’s stock worth $695,000 after acquiring an additional 930 shares in the last quarter. Finally, Swiss National Bank increased its stake in shares of Ultra Clean by 0.7% during the third quarter. Swiss National Bank now owns 98,200 shares of the semiconductor company’s stock valued at $2,914,000 after purchasing an additional 700 shares in the last quarter. Hedge funds and other 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.