Ultra Clean (NASDAQ:UCTT) Given New $40.00 Price Target at Needham & Company LLC

Ultra Clean (NASDAQ:UCTT) had its target price reduced by Needham & Company LLC from $44.00 to $40.00 in a research report released on Tuesday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the semiconductor company’s stock.

Separately, TD Cowen lowered their target price on Ultra Clean from $60.00 to $57.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th.

Ultra Clean Stock Performance

Shares of NASDAQ UCTT opened at $24.96 on Tuesday. The firm’s fifty day moving average is $36.71 and its two-hundred day moving average is $36.79. Ultra Clean has a 52-week low of $24.92 and a 52-week high of $56.47. The company has a market cap of $1.13 billion, a P/E ratio of 312.04, a P/E/G ratio of 0.51 and a beta of 2.09. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.63 and a current ratio of 2.75.

Hedge Funds Weigh In On Ultra Clean

Hedge funds have recently bought and sold shares of the business. AWM Investment Company Inc. raised its stake in shares of Ultra Clean by 22.0% during the fourth quarter. AWM Investment Company Inc. now owns 184,917 shares of the semiconductor company’s stock valued at $6,648,000 after acquiring an additional 33,300 shares in the last quarter. PharVision Advisers LLC bought a new stake in Ultra Clean during the 4th quarter valued at $291,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Ultra Clean by 6.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 72,089 shares of the semiconductor company’s stock valued at $2,592,000 after buying an additional 4,194 shares during the period. Twinbeech Capital LP bought a new stake in shares of Ultra Clean in the fourth quarter valued at about $529,000. Finally, Shapiro Capital Management LLC lifted its stake in Ultra Clean by 66.8% in the fourth quarter. Shapiro Capital Management LLC now owns 2,746,482 shares of the semiconductor company’s stock worth $98,736,000 after acquiring an additional 1,099,899 shares during the period. Institutional investors own 96.06% of the company’s stock.

About Ultra Clean

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.