Brokerages Set Ultra Clean Holdings, Inc. (NASDAQ:UCTT) Price Target at $58.67

Shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT) have received a consensus recommendation of “Buy” from the four research firms that are covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a buy rating. The average 12 month target price among analysts that have issued a report on the stock in the last year is $61.50.

Several research firms recently issued reports on UCTT. Needham & Company LLC reiterated a “buy” rating and set a $56.00 price target on shares of Ultra Clean in a research report on Friday, July 26th. Oppenheimer assumed coverage on shares of Ultra Clean in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $70.00 price objective on the stock. Craig Hallum raised their price objective on shares of Ultra Clean from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, TD Cowen raised their target price on Ultra Clean from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, July 26th.

Insider Transactions at Ultra Clean

In other news, CFO Sheri Savage sold 9,682 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $51.08, for a total value of $494,556.56. Following the sale, the chief financial officer now directly owns 62,654 shares of the company’s stock, valued at approximately $3,200,366.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO James P. Scholhamer sold 26,608 shares of the business’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $55.10, for a total value of $1,466,100.80. Following the sale, the chief executive officer now directly owns 418,453 shares in the company, valued at $23,056,760.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Sheri Savage sold 9,682 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $51.08, for a total transaction of $494,556.56. Following the completion of the transaction, the chief financial officer now directly owns 62,654 shares of the company’s stock, valued at approximately $3,200,366.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,266 shares of company stock worth $2,556,853. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Ultra Clean

Several hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC raised its position in shares of Ultra Clean by 52.1% in the 2nd quarter. GAMMA Investing LLC now owns 622 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 213 shares in the last quarter. CWM LLC increased its stake in shares of Ultra Clean by 46.3% during the second quarter. CWM LLC now owns 800 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 253 shares in the last quarter. Truist Financial Corp boosted its stake in Ultra Clean by 4.6% during the 2nd quarter. Truist Financial Corp now owns 7,080 shares of the semiconductor company’s stock worth $347,000 after purchasing an additional 310 shares during the last quarter. SummerHaven Investment Management LLC grew its position in shares of Ultra Clean by 1.7% in the second quarter. SummerHaven Investment Management LLC now owns 19,993 shares of the semiconductor company’s stock valued at $980,000 after purchasing an additional 331 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its holdings in Ultra Clean by 1.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 22,600 shares of the semiconductor company’s stock valued at $1,107,000 after purchasing an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 96.06% of the company’s stock.

Ultra Clean Price Performance

Shares of NASDAQ UCTT opened at $40.16 on Wednesday. The company has a quick ratio of 1.60, a current ratio of 2.73 and a debt-to-equity ratio of 0.52. The business’s 50 day moving average price is $37.79 and its two-hundred day moving average price is $43.15. The company has a market cap of $1.81 billion, a PE ratio of -48.98 and a beta of 2.09. Ultra Clean has a twelve month low of $22.15 and a twelve month high of $56.47.

Ultra Clean (NASDAQ:UCTT) last posted its earnings results on Thursday, July 25th. The semiconductor company reported $0.21 earnings per share for the quarter. Ultra Clean had a positive return on equity of 2.59% and a negative net margin of 0.46%. The business had revenue of $516.10 million for the quarter, compared to analyst estimates of $490.06 million. During the same period in the previous year, the firm earned $0.16 EPS. The firm’s revenue was up 22.4% compared to the same quarter last year.

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.