Ultra Clean (NASDAQ:UCTT) Now Covered by Barclays

Investment analysts at Barclays started coverage on shares of Ultra Clean (NASDAQ:UCTT) in a research note issued on Friday, MarketBeat reports. The firm set an “equal weight” rating and a $65.00 price target on the semiconductor company’s stock. Barclays‘s price target points to a potential upside of 35.14% from the company’s current price.

A number of other research firms also recently commented on UCTT. UBS Group began coverage on Ultra Clean in a report on Friday. They issued a “positive” rating for the company. Needham & Company LLC reduced their target price on Ultra Clean from $125.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, October 28th. Freedom Broker initiated coverage on Ultra Clean in a research report on Friday, October 9th. They set a “buy” rating and a $127.00 target price for the company. Zacks Research cut Ultra Clean from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 2nd. Finally, Wall Street Zen raised Ultra Clean from a “hold” rating to a “buy” rating in a research note on Sunday, August 9th. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $107.00.

Ultra Clean Stock Performance

Shares of Ultra Clean stock opened at $48.10 on Friday. The firm has a fifty day moving average of $61.98 and a two-hundred day moving average of $74.33. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 84.39, a PEG ratio of 0.47 and a beta of 1.90. Ultra Clean has a 52 week low of $21.49 and a 52 week high of $144.22. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.28 and a current ratio of 2.79.

Ultra Clean (NASDAQ:UCTT) last posted its quarterly earnings results on Tuesday, October 27th. The semiconductor company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.21. Ultra Clean had a return on equity of 12.00% and a net margin of 1.09%. The company had revenue of $759.00 million for the quarter, compared to the consensus estimate of $727.55 million. During the same quarter in the prior year, the business posted $0.28 EPS. The firm’s quarterly revenue was up 48.8% on a year-over-year basis. As a group, equities research analysts predict that Ultra Clean will post 2.99 EPS for the current year.

Hedge Funds Weigh In On Ultra Clean

A number of hedge funds and other institutional investors have recently made changes to their positions in UCTT. First Trust Advisors LP increased its position in shares of Ultra Clean by 948.2% in the 3rd quarter. First Trust Advisors LP now owns 101,602 shares of the semiconductor company’s stock valued at $8,236,000 after buying an additional 91,909 shares in the last quarter. Advisors Asset Management Inc. acquired a new stake in Ultra Clean during the 3rd quarter worth $1,690,000. Private Advisor Group LLC raised its stake in Ultra Clean by 4.6% during the 3rd quarter. Private Advisor Group LLC now owns 5,124 shares of the semiconductor company’s stock worth $415,000 after buying an additional 226 shares during the period. Meeder Asset Management Inc. acquired a new stake in Ultra Clean during the 3rd quarter worth $224,000. Finally, Goodman Financial Corp lifted its holdings in Ultra Clean by 8.0% during the third quarter. Goodman Financial Corp now owns 240,949 shares of the semiconductor company’s stock worth $19,531,000 after acquiring an additional 17,786 shares in the last quarter. 96.06% of the stock is owned by institutional investors.

Ultra Clean Company Profile

Ultra Clean Holdings, Inc. (NASDAQ: UCTT) provides products and services used in the manufacture of semiconductor and other high-technology equipment. Its offerings include critical subsystems, components and assemblies, along with engineering and manufacturing services that help equipment makers design, build and support their systems. The company’s products include gas and chemical delivery systems, fluid and precision-engineered components, and assemblies made for use in demanding manufacturing environments.