Ultra Clean (UCTT) Rating Reiterated by Dougherty & Co

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Ultra Clean (NASDAQ:UCTT)‘s stock had its “buy” rating reissued by research analysts at Dougherty & Co in a research report issued to clients and investors on Friday, Briefing.com Automated Import reports. They currently have a $18.50 price objective on the semiconductor company’s stock, up from their previous price objective of $17.00. Dougherty & Co’s price objective would indicate a potential upside of 25.76% from the company’s previous close.

A number of other research analysts have also commented on the company. Cowen upped their price target on Ultra Clean from $16.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday. ValuEngine upgraded Ultra Clean from a “sell” rating to a “hold” rating in a report on Wednesday. BidaskClub lowered Ultra Clean from a “hold” rating to a “sell” rating in a report on Tuesday. Craig Hallum upgraded Ultra Clean from a “hold” rating to a “buy” rating in a research note on Monday, March 11th. They noted that the move was a valuation call. Finally, Needham & Company LLC restated a “buy” rating and issued a $15.00 target price (up from $13.00) on shares of Ultra Clean in a research note on Friday, February 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $19.70.

Shares of UCTT stock traded up $2.14 during trading hours on Friday, reaching $14.71. 104,425 shares of the company’s stock were exchanged, compared to its average volume of 558,905. Ultra Clean has a fifty-two week low of $6.94 and a fifty-two week high of $19.09. The firm has a market cap of $480.91 million, a PE ratio of 8.88, a price-to-earnings-growth ratio of 0.99 and a beta of 1.21. The company has a quick ratio of 1.99, a current ratio of 3.32 and a debt-to-equity ratio of 0.74.

Ultra Clean (NASDAQ:UCTT) last issued its quarterly earnings results on Thursday, May 2nd. The semiconductor company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.08. Ultra Clean had a return on equity of 15.42% and a net margin of 3.34%. The company had revenue of $260.00 million during the quarter, compared to analyst estimates of $240.71 million. During the same period in the previous year, the company earned $0.67 earnings per share. The company’s quarterly revenue was down 17.4% compared to the same quarter last year. As a group, equities analysts predict that Ultra Clean will post 0.87 EPS for the current fiscal year.

In related news, CFO Sheri Savage sold 30,000 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $10.17, for a total value of $305,100.00. Following the completion of the transaction, the chief financial officer now directly owns 135,491 shares in the company, valued at $1,377,943.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.90% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of UCTT. BlackRock Inc. raised its stake in Ultra Clean by 2.3% during the third quarter. BlackRock Inc. now owns 5,699,153 shares of the semiconductor company’s stock worth $71,524,000 after acquiring an additional 129,142 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in Ultra Clean by 239.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 91,482 shares of the semiconductor company’s stock worth $774,000 after acquiring an additional 64,520 shares in the last quarter. State of New Jersey Common Pension Fund D raised its stake in Ultra Clean by 2.7% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 1,540,000 shares of the semiconductor company’s stock worth $13,044,000 after acquiring an additional 40,000 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Ultra Clean by 3.6% during the third quarter. Bank of New York Mellon Corp now owns 507,953 shares of the semiconductor company’s stock worth $6,374,000 after acquiring an additional 17,818 shares in the last quarter. Finally, Palouse Capital Management Inc. raised its stake in Ultra Clean by 67.6% during the fourth quarter. Palouse Capital Management Inc. now owns 17,107 shares of the semiconductor company’s stock worth $145,000 after acquiring an additional 6,898 shares in the last quarter. Institutional investors and hedge funds own 93.79% of the company’s stock.

About Ultra Clean

Ultra Clean Holdings, Inc designs, develops, prototypes, engineers, manufactures, and tests production tools, modules, and subsystems for the semiconductor and display capital equipment industries primarily in North America, Asia, and Europe. It offers precision robotic systems that are used when accurate controlled motion is required; gas delivery systems, which include one or more gas lines consisting of small diameter internally polished stainless steel tubing products, filters, mass flow controllers, regulators, pressure transducers and valves, component heaters, and an integrated electronic and/or pneumatic control system; and various industrial and automation production equipment products.

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Analyst Recommendations for Ultra Clean (NASDAQ:UCTT)

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