Needham & Company LLC Lowers Ultra Clean (NASDAQ:UCTT) Price Target to $26.00

Ultra Clean (NASDAQ:UCTT) had its price target reduced by Needham & Company LLC from $40.00 to $26.00 in a report released on Tuesday,Benzinga reports. Needham & Company LLC currently has a buy rating on the semiconductor company’s stock.

A number of other equities analysts have also commented on UCTT. Oppenheimer reduced their price objective on Ultra Clean from $60.00 to $30.00 and set an “outperform” rating on the stock in a research note on Friday, April 11th. TD Cowen reduced their price target on shares of Ultra Clean from $48.00 to $32.00 and set a “buy” rating on the stock in a research report on Tuesday.

Ultra Clean Stock Down 13.9 %

Shares of UCTT stock opened at $19.20 on Tuesday. The stock has a market cap of $866.53 million, a P/E ratio of 240.03, a price-to-earnings-growth ratio of 0.51 and a beta of 2.14. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.75 and a quick ratio of 1.63. The stock has a fifty day moving average price of $22.76 and a 200 day moving average price of $32.04. Ultra Clean has a one year low of $16.66 and a one year high of $56.47.

Ultra Clean (NASDAQ:UCTT) last issued its earnings results on Monday, April 28th. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.03). Ultra Clean had a return on equity of 4.08% and a net margin of 0.18%. The company had revenue of $518.60 million during the quarter, compared to analyst estimates of $526.13 million. During the same period in the previous year, the company posted $0.27 earnings per share. The company’s quarterly revenue was up 8.6% on a year-over-year basis. Analysts predict that Ultra Clean will post 1.09 earnings per share for the current year.

Insider Buying and Selling

In other Ultra Clean news, insider Bill Bentinck bought 3,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average price of $25.17 per share, with a total value of $75,510.00. Following the completion of the transaction, the insider now owns 60,695 shares in the company, valued at approximately $1,527,693.15. This trade represents a 5.20 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ernest E. Maddock purchased 10,000 shares of the business’s stock in a transaction on Friday, March 7th. The shares were acquired at an average cost 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. This represents a 1,000.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.20% of the company’s stock.

Institutional Trading of Ultra Clean

A number of hedge funds and other institutional investors have recently modified their holdings of UCTT. Headlands Technologies LLC bought a new position in Ultra Clean in the fourth quarter valued at approximately $26,000. Nisa Investment Advisors LLC grew its stake in shares of Ultra Clean by 107.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 948 shares of the semiconductor company’s stock valued at $34,000 after buying an additional 490 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Ultra Clean by 694.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 977 shares of the semiconductor company’s stock worth $35,000 after buying an additional 854 shares during the last quarter. Byrne Asset Management LLC bought a new stake in Ultra Clean during the first quarter worth $25,000. Finally, Versant Capital Management Inc lifted its stake in Ultra Clean by 386.9% in the first quarter. Versant Capital Management Inc now owns 1,412 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 1,122 shares during the last quarter. 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.