TD Cowen Boosts Ultra Clean (NASDAQ:UCTT) Price Target to $55.00

Ultra Clean (NASDAQ:UCTT) had its price objective hoisted by TD Cowen from $47.00 to $55.00 in a research report sent to investors on Tuesday, MarketBeat Ratings reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

Separately, Needham & Company LLC boosted their price objective on shares of Ultra Clean from $46.00 to $50.00 and gave the company a buy rating in a report on Thursday, February 22nd. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ultra Clean currently has a consensus rating of Moderate Buy and an average price target of $57.00.

Ultra Clean Price Performance

NASDAQ:UCTT opened at $44.07 on Tuesday. The firm has a market cap of $1.97 billion, a PE ratio of -63.87 and a beta of 2.02. The company’s 50-day moving average price is $43.73 and its two-hundred day moving average price is $36.54. The company has a quick ratio of 1.67, a current ratio of 2.88 and a debt-to-equity ratio of 0.51. Ultra Clean has a 12 month low of $22.15 and a 12 month high of $49.25.

Ultra Clean (NASDAQ:UCTT) last issued its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $0.12 earnings per share (EPS) for the quarter. Ultra Clean had a positive return on equity of 1.69% and a negative net margin of 1.79%. The firm had revenue of $444.80 million during the quarter, compared to the consensus estimate of $444.99 million.

Hedge Funds Weigh In On Ultra Clean

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Frontier Capital Management Co. LLC grew its stake in shares of Ultra Clean by 37.5% during the 4th quarter. Frontier Capital Management Co. LLC now owns 2,559,943 shares of the semiconductor company’s stock worth $87,396,000 after acquiring an additional 698,242 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its position in Ultra Clean by 47.6% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 808,723 shares of the semiconductor company’s stock valued at $37,152,000 after purchasing an additional 260,740 shares in the last quarter. Congress Asset Management Co. MA increased its stake in Ultra Clean by 37.3% in the 3rd quarter. Congress Asset Management Co. MA now owns 823,957 shares of the semiconductor company’s stock valued at $24,447,000 after buying an additional 223,865 shares during the last quarter. Vanguard Group Inc. lifted its position in Ultra Clean by 4.7% during the 3rd quarter. Vanguard Group Inc. now owns 4,211,736 shares of the semiconductor company’s stock worth $124,962,000 after buying an additional 190,942 shares in the last quarter. Finally, UBS Group AG grew its holdings in shares of Ultra Clean by 101.9% in the 4th quarter. UBS Group AG now owns 300,993 shares of the semiconductor company’s stock valued at $10,276,000 after acquiring an additional 151,928 shares in the last quarter. 96.06% of the stock is owned by institutional investors and hedge funds.

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.