Ultra Clean (NASDAQ:UCTT) Price Target Raised to $56.00 at Needham & Company LLC

Ultra Clean (NASDAQ:UCTT - Free Report) had its price objective raised by Needham & Company LLC from $50.00 to $56.00 in a research note published on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the semiconductor company's stock.

Separately, TD Cowen boosted their target price on Ultra Clean from $47.00 to $55.00 and gave the stock a buy rating in a report on Tuesday. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Ultra Clean presently has a consensus rating of Moderate Buy and an average price target of $57.00.

Ultra Clean Trading Up 2.6 %

Ultra Clean stock traded up $1.11 during trading on Tuesday, reaching $44.07. The company had a trading volume of 415,306 shares, compared to its average volume of 312,538. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.67 and a current ratio of 2.88. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of -62.26 and a beta of 2.02. Ultra Clean has a 12-month low of $22.15 and a 12-month high of $49.25. The stock's 50 day moving average price is $43.73 and its two-hundred day moving average price is $36.41.

Ultra Clean (NASDAQ:UCTT - Get Free Report) last issued its earnings results on Wednesday, February 21st. The semiconductor company reported $0.12 earnings per share for the quarter. Ultra Clean had a positive return on equity of 1.69% and a negative net margin of 1.79%. The business had revenue of $444.80 million for the quarter, compared to analyst estimates of $444.99 million.

Institutional Trading of Ultra Clean

Large investors have recently bought and sold shares of the company. Meeder Asset Management Inc. acquired a new position in shares of Ultra Clean during the fourth quarter worth $59,000. TFO Wealth Partners LLC boosted 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 valued at $93,000 after buying an additional 2,716 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Ultra Clean during the first quarter valued at about $96,000. PNC Financial Services Group Inc. grew its stake in shares of Ultra Clean by 19.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,164 shares of the semiconductor company's stock valued at $108,000 after acquiring an additional 514 shares in the last quarter. Finally, Stoneridge Investment Partners LLC purchased a new stake in shares of Ultra Clean during the fourth quarter worth about $202,000. Institutional investors and hedge funds 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.