Ultra Clean (NASDAQ:UCTT) Price Target Raised to $30.00

Key Points

• Needham & Company LLC has raised the price target for Ultra Clean (NASDAQ: UCTT) from $26.00 to $30.00, reflecting a potential upside of 21.31% from the stock's previous close and maintaining a "buy" rating.
• Ultra Clean reported $0.27 EPS for the latest quarter, in line with analysts' expectations, and generated revenue of $518.80 million, slightly exceeding estimates.
• Insider transactions show a significant decrease in holdings, with two executives selling shares, leading to a total of 19,878 shares sold worth $399,765 in the last 90 days.

Ultra Clean (NASDAQ:UCTT - Get Free Report) had its price objective hoisted by equities researchers at Needham & Company LLC from $26.00 to $30.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the semiconductor company's stock. Needham & Company LLC's price target would indicate a potential upside of 34.53% from the stock's current price.

Other analysts have also issued research reports about the company. TD Cowen reduced their target price on Ultra Clean from $48.00 to $32.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Oppenheimer reduced their target price on Ultra Clean from $60.00 to $30.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Finally, Wall Street Zen lowered Ultra Clean from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th.

Ultra Clean Stock Performance

Shares of NASDAQ UCTT traded down $0.22 during midday trading on Tuesday, reaching $22.30. 545,023 shares of the company traded hands, compared to its average volume of 544,795. Ultra Clean has a 52 week low of $16.66 and a 52 week high of $41.90. The stock has a 50-day moving average price of $22.51 and a 200 day moving average price of $25.25. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.06 and a quick ratio of 1.83. The company has a market cap of $1.01 billion, a price-to-earnings ratio of -6.60, a PEG ratio of 0.92 and a beta of 2.07.

Ultra Clean (NASDAQ:UCTT - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The semiconductor company reported $0.27 EPS for the quarter, meeting analysts' consensus estimates of $0.27. Ultra Clean had a positive return on equity of 5.32% and a negative net margin of 7.15%. The company had revenue of $518.80 million during the quarter, compared to the consensus estimate of $500.83 million. During the same quarter in the prior year, the firm earned $0.32 EPS. The company's quarterly revenue was up .5% compared to the same quarter last year. Sell-side analysts anticipate that Ultra Clean will post 1.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ultra Clean news, insider Jeffrey L. Mckibben sold 6,294 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $20.87, for a total transaction of $131,355.78. Following the transaction, the insider directly owned 21,996 shares of the company's stock, valued at $459,056.52. This represents a 22.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Jamie J. Palfrey sold 9,500 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $19.20, for a total transaction of $182,400.00. Following the completion of the sale, the senior vice president owned 30,465 shares of the company's stock, valued at $584,928. The trade was a 23.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,878 shares of company stock valued at $399,765 over the last three months. 1.90% of the stock is currently owned by insiders.

Institutional Trading of Ultra Clean

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC lifted its stake in shares of Ultra Clean by 5.3% in the first quarter. Janney Montgomery Scott LLC now owns 21,288 shares of the semiconductor company's stock valued at $456,000 after buying an additional 1,068 shares during the period. GAMMA Investing LLC lifted its stake in shares of Ultra Clean by 2,272.9% in the first quarter. GAMMA Investing LLC now owns 29,139 shares of the semiconductor company's stock valued at $624,000 after buying an additional 27,911 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Ultra Clean by 444.3% in the first quarter. Farther Finance Advisors LLC now owns 12,034 shares of the semiconductor company's stock valued at $253,000 after buying an additional 9,823 shares during the period. Bank of America Corp DE lifted its stake in shares of Ultra Clean by 32.7% in the fourth quarter. Bank of America Corp DE now owns 161,828 shares of the semiconductor company's stock valued at $5,818,000 after buying an additional 39,879 shares during the period. Finally, Envestnet Asset Management Inc. bought a new stake in shares of Ultra Clean in the fourth quarter valued at about $1,126,000. 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.