Zacks Investment Research cut shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT) from a buy rating to a hold rating in a research report report published 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. “
A number of other equities analysts also recently issued reports on UCTT. Needham & Company LLC increased their price target on Ultra Clean Holdings from $30.00 to $36.00 and gave the stock a strong-buy rating in a research report on Friday, October 13th. Cowen and Company set a $26.00 target price on Ultra Clean Holdings and gave the company a hold rating in a research report on Friday, July 28th. Craig Hallum raised their target price on Ultra Clean Holdings from $25.00 to $34.00 and gave the company a buy rating in a research report on Friday, July 28th. Dougherty & Co increased their price target on Ultra Clean Holdings from $29.50 to $32.00 and gave the company a buy rating in a report on Friday, July 28th. Finally, BidaskClub cut Ultra Clean Holdings from a buy rating to a hold rating in a report on Wednesday, August 2nd. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $30.67.
Ultra Clean Holdings (NASDAQ:UCTT) opened at $24.33 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 firm has a market capitalization of $789.57, a PE ratio of 11.34, a PEG ratio of 0.67 and a beta of 1.11. Ultra Clean Holdings has a 1-year low of $8.81 and a 1-year high of $34.59.
Ultra Clean Holdings (NASDAQ:UCTT) last announced its quarterly earnings data on Wednesday, October 25th. The semiconductor company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.02). The firm had revenue of $242.60 million during the quarter, compared to analyst estimates 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 revenue for the quarter was up 65.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.17 earnings per share. sell-side analysts anticipate that Ultra Clean Holdings will post 2.34 EPS for the current fiscal year.
In other news, SVP Ronald D’ercole sold 5,202 shares of the business’s stock in a transaction dated 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 sale, 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 can be accessed through the SEC website. Also, insider Deborah E. Hayward sold 13,872 shares of the business’s stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $32.48, for a total value of $450,562.56. Following the completion of the sale, the insider now directly owns 61,702 shares of the company’s stock, valued at $2,004,080.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,560 shares of company stock valued at $1,309,311. 2.60% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of UCTT. SG Americas Securities LLC acquired a new position in Ultra Clean Holdings in the 3rd quarter valued at about $120,000. Legal & General Group Plc increased its position in Ultra Clean Holdings by 4.2% during the 2nd quarter. Legal & General Group Plc now owns 7,824 shares of the semiconductor company’s stock worth $146,000 after purchasing an additional 314 shares during the period. Pacad Investment Ltd. acquired a new position in Ultra Clean Holdings during the 2nd quarter worth approximately $173,000. Greenwood Capital Associates LLC acquired a new position in Ultra Clean Holdings during the 3rd quarter worth approximately $226,000. Finally, Principal Financial Group Inc. acquired a new position in Ultra Clean Holdings during the 2nd quarter worth approximately $228,000. Hedge funds and other institutional investors own 75.67% of the company’s stock.
About Ultra Clean Holdings
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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