TD Cowen Lowers Ultra Clean (NASDAQ:UCTT) Price Target to $32.00

Ultra Clean (NASDAQ:UCTT - Free Report) had its target price lowered by TD Cowen from $48.00 to $32.00 in a research note released on Tuesday morning, Marketbeat Ratings reports. The brokerage currently has a buy rating on the semiconductor company's stock.

Other equities research analysts also recently issued research reports about the company. Oppenheimer reduced their price target on Ultra Clean from $60.00 to $30.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Needham & Company LLC reissued a "buy" rating and set a $40.00 target price on shares of Ultra Clean in a report on Thursday, March 6th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat.com, Ultra Clean currently has a consensus rating of "Moderate Buy" and an average price target of $37.00.

Ultra Clean Stock Performance

Shares of Ultra Clean stock traded up $1.52 on Tuesday, hitting $20.17. The stock had a trading volume of 958,696 shares, compared to its average volume of 448,414. The stock has a market cap of $910.66 million, a price-to-earnings ratio of 252.16, a price-to-earnings-growth ratio of 0.51 and a beta of 2.09. The company has a quick ratio of 1.63, a current ratio of 2.75 and a debt-to-equity ratio of 0.52. Ultra Clean has a twelve month low of $16.66 and a twelve month high of $56.47. The business's 50 day moving average is $21.93 and its two-hundred day moving average is $31.64.

Ultra Clean (NASDAQ:UCTT - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The semiconductor company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.03). The firm had revenue of $518.60 million for the quarter, compared to the consensus estimate of $526.13 million. Ultra Clean had a return on equity of 4.08% and a net margin of 0.18%. The firm's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.27 EPS. Analysts forecast that Ultra Clean will post 1.09 EPS for the current year.

Insider Activity

In other Ultra Clean news, Director Ernest E. Maddock bought 10,000 shares of the firm's stock in a transaction on Friday, March 7th. The shares were purchased at an average price of $24.29 per share, for a total transaction of $242,900.00. Following the completion of the transaction, the director now directly owns 11,000 shares in the company, valued at approximately $267,190. The trade was a 1,000.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Bill Bentinck purchased 3,000 shares of Ultra Clean stock in a transaction dated Friday, March 7th. The stock was bought at an average price of $25.17 per share, for a total transaction of $75,510.00. Following the completion of the purchase, the insider now owns 60,695 shares in the company, valued at $1,527,693.15. This represents a 5.20 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 2.20% of the company's stock.

Hedge Funds Weigh In On Ultra Clean

Several large investors have recently bought and sold shares of UCTT. New York State Common Retirement Fund raised its stake in shares of Ultra Clean by 132.6% during the fourth quarter. New York State Common Retirement Fund now owns 36,225 shares of the semiconductor company's stock valued at $1,302,000 after acquiring an additional 20,650 shares during the last quarter. Smartleaf Asset Management LLC raised its position in Ultra Clean by 694.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 977 shares of the semiconductor company's stock worth $35,000 after purchasing an additional 854 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Ultra Clean by 3.1% during the 4th quarter. Principal Financial Group Inc. now owns 219,821 shares of the semiconductor company's stock worth $7,903,000 after buying an additional 6,546 shares during the period. Barclays PLC grew its position in shares of Ultra Clean by 395.1% in the 3rd quarter. Barclays PLC now owns 83,577 shares of the semiconductor company's stock valued at $3,337,000 after buying an additional 66,695 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Ultra Clean by 27.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 506,107 shares of the semiconductor company's stock worth $20,209,000 after purchasing an additional 110,403 shares during the last quarter. 96.06% of the stock is currently owned by institutional investors.

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.