Ultra Clean Holdings Inc. (NASDAQ:UCTT) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Thursday. The brokerage currently has a $8.00 price objective on the stock. Zacks Investment Research’s target price would indicate a potential upside of 7.96% from the stock’s current price.
According to Zacks, “ULTRA CLEAN HOLDINGS, INC. is a developer and supplier of critical subsystems for the semiconductor capital equipment, flat panel, solar and medical device industries. Ultra Clean offers its customers an integrated outsourced solution for gas delivery systems and other subassemblies, improved design-to-delivery cycle times, component neutral design and manufacturing and component testing capabilities. Ultra Clean’s customers are primarily original equipment manufacturers for the semiconductor capital equipment, flat panel, solar and medical device industries. Ultra Clean is headquartered in Menlo Park, California. “
Several other analysts have also recently commented on UCTT. Needham & Company LLC reiterated a “buy” rating and issued a $7.00 price target on shares of Ultra Clean Holdings in a research note on Friday, July 8th. Dougherty & Co boosted their price target on shares of Ultra Clean Holdings from $7.50 to $8.50 and gave the stock a “buy” rating in a research note on Friday, July 29th. Finally, Stifel Nicolaus cut shares of Ultra Clean Holdings from a “buy” rating to a “hold” rating in a research note on Friday, July 8th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $8.00.
Shares of Ultra Clean Holdings (NASDAQ:UCTT) opened at 7.41 on Thursday. The company’s market capitalization is $241.30 million. The company has a 50 day moving average price of $7.02 and a 200 day moving average price of $5.97. Ultra Clean Holdings has a 1-year low of $4.50 and a 1-year high of $7.50.
Ultra Clean Holdings (NASDAQ:UCTT) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.08 by $0.02. The business had revenue of $129.83 million for the quarter, compared to analysts’ expectations of $125.16 million. Ultra Clean Holdings had a negative net margin of 3.55% and a positive return on equity of 2.07%. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.10 EPS. Equities analysts predict that Ultra Clean Holdings will post $0.33 EPS for the current fiscal year.
Several hedge funds have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. boosted its stake in shares of Ultra Clean Holdings by 125.0% in the first quarter. Jacobs Levy Equity Management Inc. now owns 80,099 shares of the company’s stock valued at $429,000 after buying an additional 44,499 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Ultra Clean Holdings by 2.2% in the first quarter. JPMorgan Chase & Co. now owns 1,523,275 shares of the company’s stock worth $8,165,000 after buying an additional 32,300 shares during the period. State Street Corp raised its stake in Ultra Clean Holdings by 3.0% in the first quarter. State Street Corp now owns 420,142 shares of the company’s stock worth $2,253,000 after buying an additional 12,314 shares during the period. Los Angeles Capital Management & Equity Research Inc. raised its stake in Ultra Clean Holdings by 1.8% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 24,850 shares of the company’s stock worth $133,000 after buying an additional 430 shares during the period. Finally, Geode Capital Management LLC raised its stake in Ultra Clean Holdings by 1.4% in the first quarter. Geode Capital Management LLC now owns 202,669 shares of the company’s stock worth $1,086,000 after buying an additional 2,738 shares during the period. Hedge funds and other institutional investors own 66.02% 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 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.
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