Ultra Clean (NASDAQ:UCTT) Stock Gets Price Target Cut from TD Cowen

Ultra Clean (NASDAQ:UCTT) had its price target lowered by TD Cowen from $140.00 to $100.00 in a research note issued to investors on Wednesday,Benzinga reports. TD Cowen currently has a buy rating on the semiconductor company’s stock.

Several other analysts have also weighed in on the stock. Oppenheimer boosted their target price on shares of Ultra Clean from $115.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, August 4th. Zacks Research downgraded shares of Ultra Clean from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 2nd. Wall Street Zen raised shares of Ultra Clean from a “hold” rating to a “buy” rating in a report on Sunday, August 9th. Weiss Ratings lowered shares of Ultra Clean from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, August 7th. Finally, UBS Group reaffirmed a “buy” rating on shares of Ultra Clean in a research report on Wednesday. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $114.00.

Ultra Clean Price Performance

Shares of UCTT opened at $49.71 on Wednesday. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 27.91, a PEG ratio of 0.59 and a beta of 1.86. The stock has a 50 day moving average of $66.61 and a 200-day moving average of $74.23. The company has a current ratio of 2.79, a quick ratio of 1.25 and a debt-to-equity ratio of 0.78. Ultra Clean has a 52 week low of $21.49 and a 52 week high of $144.22.

Ultra Clean (NASDAQ:UCTT) last issued its quarterly earnings results on Tuesday, October 27th. The semiconductor company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.21. The business had revenue of $759.00 million during the quarter, compared to the consensus estimate of $727.55 million. Ultra Clean had a return on equity of 12.00% and a net margin of 1.09%. The business’s quarterly revenue was up 48.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.28 EPS. As a group, analysts forecast that Ultra Clean will post 2.67 EPS for the current year.

Institutional Investors Weigh In On Ultra Clean

Several large investors have recently made changes to their positions in UCTT. Arlington Capital Management INC bought a new position in shares of Ultra Clean in the third quarter valued at approximately $1,894,000. Bridge City Capital LLC raised its holdings in Ultra Clean by 92.3% during the third quarter. Bridge City Capital LLC now owns 98,202 shares of the semiconductor company’s stock worth $7,960,000 after purchasing an additional 47,137 shares in the last quarter. D.A. Davidson & CO. raised its holdings in Ultra Clean by 32.8% during the third quarter. D.A. Davidson & CO. now owns 7,640 shares of the semiconductor company’s stock worth $619,000 after purchasing an additional 1,885 shares in the last quarter. Signaturefd LLC raised its holdings in Ultra Clean by 38.9% during the third quarter. Signaturefd LLC now owns 1,004 shares of the semiconductor company’s stock worth $81,000 after purchasing an additional 281 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its position in Ultra Clean by 839.2% in the third quarter. Sterling Capital Management LLC now owns 1,484 shares of the semiconductor company’s stock worth $120,000 after purchasing an additional 1,326 shares during the period. Institutional investors and hedge funds own 96.06% of the company’s stock.

About Ultra Clean

Ultra Clean Holdings, Inc (NASDAQ: UCTT) provides critical subsystems, components and services used in the production of semiconductor and other high-technology products. The company designs and manufactures gas delivery systems, fluid delivery systems, precision-machined components, process modules and other equipment used by semiconductor capital-equipment manufacturers.

Ultra Clean also provides contract manufacturing, analytical laboratory, equipment installation, repair, refurbishment and tool-maintenance services.