Ultra Clean (NASDAQ:UCTT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, June 21st.
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 several other reports. BidaskClub cut Ultra Clean from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 13th. Needham & Company LLC cut their price target on Ultra Clean to $28.00 and set a “buy” rating for the company in a report on Thursday, April 26th. ValuEngine cut Ultra Clean from a “sell” rating to a “strong sell” rating in a report on Friday, May 18th. Stifel Nicolaus lifted their price objective on Ultra Clean from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, June 18th. Finally, Cowen restated a “hold” rating and set a $28.00 target price (down from $32.00) on shares of Ultra Clean in a research report on Thursday, February 22nd. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $29.17.
UCTT stock opened at $16.60 on Thursday. Ultra Clean has a one year low of $15.35 and a one year high of $34.59. The stock has a market cap of $619.20 million, a price-to-earnings ratio of 6.35, a PEG ratio of 0.50 and a beta of 0.94.
Ultra Clean (NASDAQ:UCTT) last posted its quarterly earnings results on Wednesday, April 25th. The semiconductor company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.09. The business had revenue of $314.80 million during the quarter, compared to analyst estimates of $281.97 million. Ultra Clean had a net margin of 8.26% and a return on equity of 28.32%. The firm’s revenue was up 53.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.47 earnings per share. equities research analysts predict that Ultra Clean will post 2.3 EPS for the current fiscal year.
In other Ultra Clean news, insider Mark Bingaman sold 35,966 shares of the firm’s stock in a transaction that occurred on Friday, April 13th. The stock was sold at an average price of $19.00, for a total value of $683,354.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP William Joe Williams sold 5,782 shares of the firm’s stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $17.19, for a total value of $99,392.58. Following the completion of the sale, the senior vice president now directly owns 80,418 shares of the company’s stock, valued at approximately $1,382,385.42. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,510 shares of company stock worth $797,225. 1.90% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. lifted its holdings in Ultra Clean by 12.5% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 28,216 shares of the semiconductor company’s stock worth $652,000 after acquiring an additional 3,130 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Ultra Clean by 64.6% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 45,930 shares of the semiconductor company’s stock valued at $1,060,000 after buying an additional 18,033 shares during the period. Millennium Management LLC raised its stake in shares of Ultra Clean by 1,256.4% in the fourth quarter. Millennium Management LLC now owns 785,449 shares of the semiconductor company’s stock valued at $18,136,000 after buying an additional 727,540 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Ultra Clean by 397.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 351,040 shares of the semiconductor company’s stock valued at $8,106,000 after buying an additional 280,500 shares during the period. Finally, Macquarie Group Ltd. raised its stake in shares of Ultra Clean by 34.6% in the fourth quarter. Macquarie Group Ltd. now owns 33,072 shares of the semiconductor company’s stock valued at $764,000 after buying an additional 8,500 shares during the period. Institutional investors own 86.85% of the company’s stock.
Ultra Clean Company Profile
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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