Ultra Clean (NASDAQ:UCTT) Cut to Hold at BidaskClub

BidaskClub cut shares of Ultra Clean (NASDAQ:UCTT) from a buy rating to a hold rating in a research report released on Saturday, BidAskClub reports.

A number of other brokerages have also weighed in on UCTT. Cowen restated an outperform rating and issued a $20.00 target price (up from $16.00) on shares of Ultra Clean in a research note on Friday, May 3rd. ValuEngine upgraded Ultra Clean from a hold rating to a buy rating in a research note on Wednesday, July 24th. Zacks Investment Research lowered Ultra Clean from a hold rating to a sell rating in a research note on Saturday, July 27th. Finally, Dougherty & Co restated a buy rating and issued a $18.50 target price (up from $17.00) on shares of Ultra Clean in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $17.63.

Shares of UCTT opened at $13.16 on Friday. The business’s 50-day moving average is $13.95. The stock has a market cap of $527.02 million, a PE ratio of 7.93, a price-to-earnings-growth ratio of 1.26 and a beta of 1.06. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.93 and a quick ratio of 1.87. Ultra Clean has a 52-week low of $6.94 and a 52-week high of $15.94.

Ultra Clean (NASDAQ:UCTT) last announced its earnings results on Wednesday, July 31st. The semiconductor company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. The business had revenue of $265.40 million for the quarter, compared to analyst estimates of $255.42 million. Ultra Clean had a positive return on equity of 8.16% and a negative net margin of 0.66%. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.55 EPS. As a group, research analysts predict that Ultra Clean will post 0.8 earnings per share for the current year.

In other Ultra Clean news, SVP Joan Sterling sold 38,384 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $13.49, for a total value of $517,800.16. Following the transaction, the senior vice president now directly owns 45,518 shares in the company, valued at approximately $614,037.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Clarence L. Granger bought 21,000 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was acquired at an average price of $13.49 per share, for a total transaction of $283,290.00. Following the completion of the purchase, the director now directly owns 170,098 shares in the company, valued at $2,294,622.02. The disclosure for this purchase can be found here. 1.80% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC increased its position in shares of Ultra Clean by 104.7% during the 4th quarter. Advisory Services Network LLC now owns 4,565 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 2,335 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Ultra Clean by 451.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,986 shares of the semiconductor company’s stock valued at $83,000 after purchasing an additional 6,537 shares during the last quarter. Penserra Capital Management LLC increased its position in shares of Ultra Clean by 77.1% during the 1st quarter. Penserra Capital Management LLC now owns 9,315 shares of the semiconductor company’s stock valued at $96,000 after purchasing an additional 4,056 shares during the last quarter. Delta Investment Management LLC bought a new position in shares of Ultra Clean during the 1st quarter valued at about $103,000. Finally, Metropolitan Life Insurance Co. NY increased its position in shares of Ultra Clean by 273.4% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 12,360 shares of the semiconductor company’s stock valued at $105,000 after purchasing an additional 9,050 shares during the last quarter. Hedge funds and other institutional investors own 90.54% of the company’s stock.

About Ultra Clean

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.

Featured Article: Gap Up Stocks

Analyst Recommendations for Ultra Clean (NASDAQ:UCTT)

Receive News & Ratings for Ultra Clean Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ultra Clean and related companies with MarketBeat.com's FREE daily email newsletter.