Ultra Clean (NASDAQ:UCTT) Given New $60.00 Price Target at Craig Hallum

Ultra Clean (NASDAQ:UCTT) had its price target hoisted by Craig Hallum from $52.00 to $60.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

Several other equities analysts have also recently commented on UCTT. Needham & Company LLC restated a buy rating and set a $56.00 price target on shares of Ultra Clean in a report on Friday. TD Cowen boosted 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. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $58.67.

Ultra Clean Stock Performance

Shares of UCTT stock opened at $44.55 on Friday. The stock’s fifty day simple moving average is $48.53 and its 200-day simple moving average is $44.58. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of -54.33 and a beta of 2.13. The company has a current ratio of 2.73, a quick ratio of 1.60 and a debt-to-equity ratio of 0.52. Ultra Clean has a 1-year low of $22.15 and a 1-year high of $56.47.

Ultra Clean (NASDAQ:UCTT) last released its earnings results on Thursday, July 25th. The semiconductor company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.06. The company had revenue of $516.10 million for the quarter, compared to analysts’ expectations of $490.06 million. Ultra Clean had a positive return on equity of 2.59% and a negative net margin of 0.46%. The business’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.16 EPS.

Insiders Place Their Bets

In other news, CFO Sheri Savage sold 897 shares of the firm’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $55.87, for a total transaction of $50,115.39. Following the transaction, the chief financial officer now owns 51,678 shares in the company, valued at approximately $2,887,249.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Ultra Clean news, Director Clarence L. Granger sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $43.50, for a total transaction of $217,500.00. Following the completion of the sale, the director now owns 92,134 shares of the company’s stock, valued at $4,007,829. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sheri Savage sold 897 shares of Ultra Clean stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $55.87, for a total transaction of $50,115.39. Following the completion of the transaction, the chief financial officer now directly owns 51,678 shares in the company, valued at approximately $2,887,249.86. The disclosure for this sale can be found here. Insiders sold 110,314 shares of company stock valued at $5,370,214 over the last ninety days. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in Ultra Clean by 52.1% during 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 during the last quarter. CWM LLC lifted its position in shares of Ultra Clean by 46.3% during the 2nd quarter. CWM LLC now owns 800 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 253 shares during the last quarter. Innealta Capital LLC bought a new stake in Ultra Clean during the 2nd quarter valued at approximately $41,000. Meeder Asset Management Inc. acquired a new stake in Ultra Clean in the 4th quarter valued at approximately $59,000. Finally, TFO Wealth Partners LLC increased its position in Ultra Clean by 27,160.0% in the 4th quarter. TFO Wealth Partners LLC now owns 2,726 shares of the semiconductor company’s stock worth $93,000 after buying an additional 2,716 shares during the period. 96.06% of the stock is currently owned by institutional investors and hedge funds.

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.