Ultra Clean (NASDAQ:UCTT) Given New $60.00 Price Target at Craig Hallum

Ultra Clean (NASDAQ:UCTT) had its target price hoisted by research analysts at Craig Hallum from $52.00 to $60.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Craig Hallum’s price objective would suggest a potential upside of 30.38% from the company’s current price.

UCTT has been the subject of a number of other reports. TD Cowen raised their price objective on Ultra Clean from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday. Needham & Company LLC restated a “buy” rating and set a $56.00 price objective on shares of Ultra Clean in a research report on Friday. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $58.67.

Ultra Clean Trading Up 2.0 %

Ultra Clean stock traded up $0.89 during trading hours on Friday, hitting $46.02. The stock had a trading volume of 380,658 shares, compared to its average volume of 313,921. The company has a quick ratio of 1.58, a current ratio of 2.76 and a debt-to-equity ratio of 0.52. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of -56.12 and a beta of 2.13. Ultra Clean has a one year low of $22.15 and a one year high of $56.47. The business’s 50 day simple moving average is $48.55 and its 200-day simple moving average is $44.23.

Ultra Clean (NASDAQ:UCTT) last posted its earnings results on Monday, May 6th. The semiconductor company reported $0.20 EPS for the quarter. Ultra Clean had a positive return on equity of 2.19% and a negative net margin of 2.09%. The firm had revenue of $477.70 million during the quarter, compared to the consensus estimate of $455.00 million.

Insider Buying and Selling at Ultra Clean

In other Ultra Clean news, CFO Sheri Savage sold 897 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $55.87, for a total value of $50,115.39. Following the completion of the sale, the chief financial officer now owns 51,678 shares of the company’s stock, valued at $2,887,249.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Ultra Clean news, CFO Sheri Savage sold 897 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $55.87, for a total value of $50,115.39. Following the completion of the sale, the chief financial officer now owns 51,678 shares of the company’s stock, valued at $2,887,249.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James P. Scholhamer sold 26,608 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $55.10, for a total value of $1,466,100.80. Following the completion of the sale, the chief executive officer now directly owns 418,453 shares of the company’s stock, valued at approximately $23,056,760.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 110,314 shares of company stock valued at $5,370,214. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of UCTT. GAMMA Investing LLC boosted its position in shares of Ultra Clean by 52.1% during the second quarter. GAMMA Investing LLC now owns 622 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 213 shares during the last quarter. CWM LLC boosted its position in shares of Ultra Clean by 46.3% during the second quarter. CWM LLC now owns 800 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 253 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Ultra Clean during the fourth quarter valued at approximately $59,000. TFO Wealth Partners LLC boosted its position in shares of Ultra Clean by 27,160.0% during the fourth quarter. TFO Wealth Partners LLC now owns 2,726 shares of the semiconductor company’s stock valued at $93,000 after buying an additional 2,716 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Ultra Clean during the first quarter valued at approximately $96,000. Hedge funds and other institutional investors own 96.06% of the company’s stock.

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.