Zacks Investment Research upgraded shares of Ultra Clean (NASDAQ:UCTT) from a sell rating to a hold rating in a report published on Friday, Zacks.com reports.

According to Zacks, “ULTRA CLEAN HOLDINGS, INC. is a developer and supplier of critical subsystems for the semiconductor capital equipment, flat panel, solar and medical device industries. Ultra Clean offers its customers an integrated outsourced solution for gas delivery systems and other subassemblies, improved design-to-delivery cycle times, component neutral design and manufacturing and component testing capabilities. Ultra Clean’s customers are primarily original equipment manufacturers for the semiconductor capital equipment, flat panel, solar and medical device industries. Ultra Clean is headquartered in Menlo Park, California. “

Several other equities research analysts have also recently weighed in on UCTT. Cowen upped their price objective on shares of Ultra Clean from $22.00 to $25.00 and gave the stock a market perform rating in a research report on Thursday, February 20th. BidaskClub raised shares of Ultra Clean from a hold rating to a buy rating in a report on Saturday, May 9th. Stifel Nicolaus increased their target price on shares of Ultra Clean from $21.00 to $23.00 and gave the stock a hold rating in a report on Thursday, April 30th. Craig Hallum increased their target price on shares of Ultra Clean from $22.50 to $30.00 and gave the stock a positive rating in a report on Tuesday, February 18th. Finally, ValuEngine raised shares of Ultra Clean from a sell rating to a hold rating in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $26.40.

Shares of UCTT stock traded up $1.09 on Friday, hitting $24.22. The company’s stock had a trading volume of 670,335 shares, compared to its average volume of 525,758. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.60 and a current ratio of 2.48. The stock’s 50 day moving average is $18.29 and its 200-day moving average is $20.45. Ultra Clean has a fifty-two week low of $11.20 and a fifty-two week high of $30.00. The company has a market capitalization of $922.49 million, a PE ratio of 18.95, a PEG ratio of 2.00 and a beta of 1.69.

Ultra Clean (NASDAQ:UCTT) last posted its quarterly earnings data on Wednesday, April 29th. The semiconductor company reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.11. Ultra Clean had a negative net margin of 0.05% and a positive return on equity of 10.68%. The business had revenue of $320.90 million during the quarter, compared to analysts’ expectations of $302.60 million. During the same quarter in the prior year, the business posted $0.27 earnings per share. Ultra Clean’s revenue was up 23.4% compared to the same quarter last year. On average, research analysts forecast that Ultra Clean will post 1.45 earnings per share for the current year.

In other news, insider William Joe Williams sold 2,132 shares of the firm’s stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $19.00, for a total transaction of $40,508.00. Following the completion of the sale, the insider now owns 84,532 shares of the company’s stock, valued at approximately $1,606,108. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Thomas T. Edman sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $20.52, for a total transaction of $102,600.00. Following the sale, the director now directly owns 19,899 shares of the company’s stock, valued at approximately $408,327.48. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

Several hedge funds have recently made changes to their positions in UCTT. Driehaus Capital Management LLC acquired a new stake in shares of Ultra Clean during the 4th quarter worth approximately $20,175,000. Bank of Montreal Can grew its position in shares of Ultra Clean by 4,640.9% during the 4th quarter. Bank of Montreal Can now owns 352,441 shares of the semiconductor company’s stock worth $8,272,000 after buying an additional 345,007 shares during the period. Monarch Partners Asset Management LLC grew its position in shares of Ultra Clean by 850.8% during the 1st quarter. Monarch Partners Asset Management LLC now owns 311,832 shares of the semiconductor company’s stock worth $4,303,000 after buying an additional 279,035 shares during the period. Prudential Financial Inc. grew its position in shares of Ultra Clean by 55.3% during the 4th quarter. Prudential Financial Inc. now owns 629,762 shares of the semiconductor company’s stock worth $14,780,000 after buying an additional 224,221 shares during the period. Finally, Rothschild & Co. Asset Management US Inc. acquired a new stake in shares of Ultra Clean during the 1st quarter worth approximately $3,063,000. 87.42% of the stock is owned by institutional investors.

Ultra Clean Company Profile

Ultra Clean Holdings, Inc designs, develops, prototypes, engineers, manufactures, and tests production tools, modules, and subsystems for the semiconductor and display capital equipment industries primarily in North America, Asia, and Europe. It offers precision robotic systems that are used when accurate controlled motion is required; gas delivery systems, which include one or more gas lines consisting of small diameter internally polished stainless steel tubing products, filters, mass flow controllers, regulators, pressure transducers and valves, component heaters, and an integrated electronic and/or pneumatic control system; and various industrial and automation production equipment products.

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