Ultra Clean (NASDAQ:UCTT) Shares Gap Up After Analyst Upgrade

Shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT - Get Free Report) gapped up prior to trading on Tuesday after Needham & Company LLC raised their price target on the stock from $50.00 to $56.00. The stock had previously closed at $42.96, but opened at $45.82. Needham & Company LLC currently has a buy rating on the stock. Ultra Clean shares last traded at $45.25, with a volume of 47,509 shares traded.

Separately, TD Cowen lifted their price objective on shares of Ultra Clean from $47.00 to $55.00 and gave the stock a "buy" rating in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.00.

Hedge Funds Weigh In On Ultra Clean

Institutional investors have recently bought and sold shares of the business. Meeder Asset Management Inc. purchased a new position in Ultra Clean during the 4th quarter worth approximately $59,000. TFO Wealth Partners LLC raised its position in Ultra Clean by 27,160.0% during 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 last quarter. Allspring Global Investments Holdings LLC purchased a new position in Ultra Clean during the 1st quarter worth approximately $96,000. PNC Financial Services Group Inc. raised its position in Ultra Clean by 19.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,164 shares of the semiconductor company's stock worth $108,000 after buying an additional 514 shares during the last quarter. Finally, Stoneridge Investment Partners LLC purchased a new position in Ultra Clean during the 4th quarter worth approximately $202,000. 96.06% of the stock is owned by hedge funds and other institutional investors.

Ultra Clean Stock Up 2.6 %

The company has a current ratio of 2.88, a quick ratio of 1.67 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $1.97 billion, a PE ratio of -62.26 and a beta of 2.02. The business's 50-day simple moving average is $43.73 and its 200-day simple moving average is $36.41.

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

Ultra Clean Company Profile

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.