Ultra Clean Holdings, Inc. (NASDAQ:UCTT) Upgraded to “Strong-Buy” by ValuEngine

ValuEngine upgraded shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT) from a buy rating to a strong-buy rating in a research report report published on Tuesday, August 1st.

Other equities analysts also recently issued reports about the stock. Stifel Nicolaus increased their price objective on shares of Ultra Clean Holdings from $12.00 to $18.00 and gave the stock a buy rating in a research note on Friday, April 28th. Needham & Company LLC increased their price target on shares of Ultra Clean Holdings from $18.00 to $22.00 and gave the company a buy rating in a report on Thursday, April 27th. Zacks Investment Research raised shares of Ultra Clean Holdings from a hold rating to a strong-buy rating and set a $20.00 target price on the stock in a report on Thursday, April 27th. Cowen and Company set a $26.00 target price on shares of Ultra Clean Holdings and gave the stock a hold rating in a report on Friday, July 28th. Finally, Dougherty & Co raised their target price on shares of Ultra Clean Holdings from $29.50 to $32.00 and gave the stock a buy rating in a report on Friday, July 28th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Buy and an average target price of $27.83.

Shares of Ultra Clean Holdings (NASDAQ:UCTT) traded up 2.47% during mid-day trading on Tuesday, hitting $23.25. The stock had a trading volume of 1,140,434 shares. Ultra Clean Holdings has a 12-month low of $6.58 and a 12-month high of $26.21. The stock has a market capitalization of $777.29 million, a price-to-earnings ratio of 16.82 and a beta of 1.19. The stock’s 50-day moving average price is $22.21 and its 200-day moving average price is $18.75.

Ultra Clean Holdings (NASDAQ:UCTT) last posted its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $0.62 EPS for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.11. Ultra Clean Holdings had a net margin of 6.25% and a return on equity of 24.16%. The company had revenue of $228.26 million during the quarter, compared to the consensus estimate of $213.92 million. During the same period in the prior year, the business posted $0.10 EPS. The company’s quarterly revenue was up 75.8% on a year-over-year basis. On average, equities analysts anticipate that Ultra Clean Holdings will post $2.28 EPS for the current fiscal year.

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In other Ultra Clean Holdings news, Director Leonid Mezhvinsky sold 6,800 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $23.26, for a total value of $158,168.00. Following the sale, the director now owns 33,500 shares in the company, valued at $779,210. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mark Bingaman sold 36,743 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $23.34, for a total transaction of $857,581.62. Following the completion of the sale, the senior vice president now owns 76,670 shares in the company, valued at approximately $1,789,477.80. The disclosure for this sale can be found here. Insiders sold 94,484 shares of company stock worth $2,119,172 in the last 90 days. Company insiders own 2.60% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. State Board of Administration of Florida Retirement System raised its position in shares of Ultra Clean Holdings by 2.0% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 12,549 shares of the semiconductor company’s stock worth $122,000 after buying an additional 251 shares during the period. Legal & General Group Plc increased its position in shares of Ultra Clean Holdings by 4.2% in the second quarter. Legal & General Group Plc now owns 7,824 shares of the semiconductor company’s stock worth $146,000 after buying an additional 314 shares in the last quarter. Pacad Investment Ltd. purchased a new position in shares of Ultra Clean Holdings during the second quarter worth $173,000. Greenwood Capital Associates LLC increased its position in shares of Ultra Clean Holdings by 3.1% in the first quarter. Greenwood Capital Associates LLC now owns 11,076 shares of the semiconductor company’s stock worth $187,000 after buying an additional 334 shares in the last quarter. Finally, Nordea Investment Management AB purchased a new position in shares of Ultra Clean Holdings during the first quarter worth $204,000. Institutional investors own 83.09% of the company’s stock.

About Ultra Clean Holdings

Ultra Clean Holdings, Inc is engaged in the design, engineering and manufacture of production tools, modules and subsystems the semiconductor capital equipment industry. The Company’s products include precision robotic solutions; gas delivery systems; a range of industrial and automation production equipment products; subsystems that includes wafer cleaning sub-systems, chemical delivery modules, top-plate assemblies, frame assemblies, and process modules.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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