Ultra Clean (NASDAQ:UCTT) Now Covered by Analysts at Oppenheimer

Oppenheimer began coverage on shares of Ultra Clean (NASDAQ:UCTT) in a research note issued on Wednesday, Marketbeat reports. The firm set an “outperform” rating and a $70.00 price target on the semiconductor company’s stock. Oppenheimer’s price target points to a potential upside of 104.38% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the stock. TD Cowen raised their price objective on shares of Ultra Clean from $55.00 to $60.00 and gave the company a “buy” rating in a report on Friday, July 26th. Needham & Company LLC restated a “buy” rating and issued a $56.00 price target on shares of Ultra Clean in a research note on Friday, July 26th. Finally, Craig Hallum upped their price objective on Ultra Clean from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.50.

Ultra Clean Trading Down 0.5 %

NASDAQ:UCTT opened at $34.25 on Wednesday. The stock has a fifty day moving average price of $38.32 and a 200 day moving average price of $43.27. The company has a current ratio of 2.73, a quick ratio of 1.60 and a debt-to-equity ratio of 0.52. Ultra Clean has a 12-month low of $22.15 and a 12-month high of $56.47. The firm has a market cap of $1.54 billion, a PE ratio of -41.77 and a beta of 2.09.

Ultra Clean (NASDAQ:UCTT) last announced its quarterly earnings data on Thursday, July 25th. The semiconductor company reported $0.21 EPS for the quarter. The business had revenue of $516.10 million during the quarter, compared to the consensus estimate of $490.06 million. Ultra Clean had a positive return on equity of 2.59% and a negative net margin of 0.46%. The business’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.16 earnings per share.

Insider Buying and Selling at Ultra Clean

In related news, CFO Sheri Savage sold 10,079 shares of the company’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $54.18, for a total value of $546,080.22. Following the completion of the sale, the chief financial officer now directly owns 52,575 shares of the company’s stock, valued at approximately $2,848,513.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Ultra Clean news, CFO Sheri Savage sold 10,079 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $54.18, for a total value of $546,080.22. Following the completion of the sale, the chief financial officer now owns 52,575 shares in the company, valued at $2,848,513.50. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO James P. Scholhamer sold 26,608 shares of Ultra Clean stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $55.10, for a total transaction of $1,466,100.80. Following the completion of the transaction, the chief executive officer now directly owns 418,453 shares in the company, valued at $23,056,760.30. The disclosure for this sale can be found here. Insiders sold 47,266 shares of company stock worth $2,556,853 over the last 90 days. Corporate insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Ultra Clean

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Janney Montgomery Scott LLC raised its stake in Ultra Clean by 10.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 16,490 shares of the semiconductor company’s stock valued at $563,000 after acquiring an additional 1,520 shares during the last quarter. UBS Group AG raised its stake in shares of Ultra Clean by 101.9% during the fourth quarter. UBS Group AG now owns 300,993 shares of the semiconductor company’s stock worth $10,276,000 after purchasing an additional 151,928 shares during the last quarter. TFO Wealth Partners LLC lifted its holdings in shares of Ultra Clean by 27,160.0% during the fourth quarter. TFO Wealth Partners LLC now owns 2,726 shares of the semiconductor company’s stock worth $93,000 after purchasing an additional 2,716 shares during the period. Keeley Teton Advisors LLC purchased a new position in Ultra Clean in the 4th quarter valued at $431,000. Finally, Frontier Capital Management Co. LLC grew its position in Ultra Clean by 37.5% in the 4th quarter. Frontier Capital Management Co. LLC now owns 2,559,943 shares of the semiconductor company’s stock valued at $87,396,000 after buying an additional 698,242 shares during the last quarter. 96.06% of the stock is owned by hedge funds and other 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.