Ultra Clean (NASDAQ:UCTT) Price Target Raised to $40.00

Posted by on Aug 1st, 2023

Ultra Clean (NASDAQ:UCTT – Free Report) had its target price lifted by TD Cowen from $34.00 to $40.00 in a report issued on Friday, Benzinga reports. They currently have an outperform rating on the semiconductor company’s stock.

Other equities analysts have also issued reports about the company. StockNews.com initiated coverage on Ultra Clean in a research note on Thursday, May 18th. They issued a hold rating for the company. Needham & Company LLC reiterated a buy rating and issued a $52.00 price target on shares of Ultra Clean in a research note on Friday. TheStreet lowered Ultra Clean from a b- rating to a c+ rating in a report on Tuesday, May 9th. Finally, Craig Hallum raised shares of Ultra Clean from a hold rating to a buy rating and set a $60.00 price objective for the company in a report on Friday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $43.67.

Ultra Clean Trading Up 5.5 %

NASDAQ:UCTT opened at $38.10 on Friday. The firm has a market cap of $1.70 billion, a P/E ratio of 72.00 and a beta of 1.97. The stock’s 50 day simple moving average is $36.17 and its 200-day simple moving average is $33.23. The company has a current ratio of 3.18, a quick ratio of 1.82 and a debt-to-equity ratio of 0.52. Ultra Clean has a 12-month low of $23.32 and a 12-month high of $40.80.

Insider Activity at Ultra Clean

In other news, insider Bill Bentinck sold 9,784 shares of the business’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $36.19, for a total value of $354,082.96. Following the sale, the insider now owns 50,775 shares of the company’s stock, valued at $1,837,547.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Bill Bentinck sold 9,784 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $36.19, for a total transaction of $354,082.96. Following the completion of the sale, the insider now owns 50,775 shares of the company’s stock, valued at approximately $1,837,547.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Emily M. Liggett sold 3,701 shares of the business’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $32.48, for a total value of $120,208.48. Following the sale, the director now owns 37,226 shares in the company, valued at $1,209,100.48. The disclosure for this sale can be found here. Insiders have sold a total of 13,661 shares of company stock worth $480,645 over the last 90 days. Insiders own 2.10% of the company’s stock.

Institutional Trading of Ultra Clean

A number of institutional investors have recently added to or reduced their stakes in UCTT. First Republic Investment Management Inc. purchased a new stake in shares of Ultra Clean during the fourth quarter worth about $24,544,000. Frontier Capital Management Co. LLC raised its holdings in Ultra Clean by 76.0% in the first quarter. Frontier Capital Management Co. LLC now owns 1,071,283 shares of the semiconductor company’s stock worth $35,524,000 after buying an additional 462,704 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Ultra Clean by 13.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,600,436 shares of the semiconductor company’s stock worth $86,229,000 after acquiring an additional 298,675 shares during the last quarter. Divisar Capital Management LLC boosted its stake in Ultra Clean by 58.2% during the 1st quarter. Divisar Capital Management LLC now owns 760,554 shares of the semiconductor company’s stock valued at $32,240,000 after purchasing an additional 279,737 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Ultra Clean by 160.4% during the fourth quarter. American Century Companies Inc. now owns 263,561 shares of the semiconductor company’s stock valued at $8,737,000 after purchasing an additional 162,359 shares in the last quarter. Hedge funds and other institutional investors own 82.93% of the company’s stock.

Ultra Clean Company Profile

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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.

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