Ultra Clean (UCTT) Shares Gap Down After Analyst Downgrade

Ultra Clean Holdings Inc (NASDAQ:UCTT) shares gapped down prior to trading on Thursday after Craig Hallum lowered their price target on the stock from $24.00 to $15.00. The stock had previously closed at $9.55, but opened at $10.30. Craig Hallum currently has a buy rating on the stock. Ultra Clean shares last traded at $10.29, with a volume of 48445 shares.

Several other research firms have also weighed in on UCTT. BidaskClub raised Ultra Clean from a “sell” rating to a “hold” rating in a report on Tuesday, July 10th. Standpoint Research raised Ultra Clean from a “hold” rating to a “buy” rating in a report on Tuesday, August 28th. Zacks Investment Research lowered Ultra Clean from a “hold” rating to a “strong sell” rating in a report on Friday, August 3rd. Cowen lowered their target price on Ultra Clean from $28.00 to $23.00 and set an “outperform” rating on the stock in a report on Tuesday, September 18th. Finally, TheStreet lowered Ultra Clean from a “b-” rating to a “c+” rating in a report on Tuesday, October 9th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $23.20.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in shares of Ultra Clean by 10.8% during the second quarter. BlackRock Inc. now owns 5,570,011 shares of the semiconductor company’s stock valued at $92,462,000 after acquiring an additional 542,728 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Ultra Clean by 16.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,745,093 shares of the semiconductor company’s stock valued at $45,568,000 after acquiring an additional 386,908 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its stake in shares of Ultra Clean by 16.9% during the second quarter. State of New Jersey Common Pension Fund D now owns 1,520,000 shares of the semiconductor company’s stock valued at $25,232,000 after acquiring an additional 220,000 shares during the last quarter. Paradigm Capital Management Inc. NY boosted its stake in shares of Ultra Clean by 93.2% during the second quarter. Paradigm Capital Management Inc. NY now owns 1,189,200 shares of the semiconductor company’s stock valued at $19,741,000 after acquiring an additional 573,746 shares during the last quarter. Finally, Smith Graham & Co. Investment Advisors LP boosted its stake in shares of Ultra Clean by 8.9% during the third quarter. Smith Graham & Co. Investment Advisors LP now owns 1,150,122 shares of the semiconductor company’s stock valued at $14,434,000 after acquiring an additional 93,670 shares during the last quarter. 82.88% of the stock is currently owned by institutional investors and hedge funds.

The company has a market cap of $448.53 million, a P/E ratio of 4.37, a price-to-earnings-growth ratio of 0.44 and a beta of 0.76.

Ultra Clean (NASDAQ:UCTT) last posted its quarterly earnings data on Tuesday, November 6th. The semiconductor company reported $0.30 EPS for the quarter, meeting analysts’ consensus estimates of $0.30. The business had revenue of $234.08 million for the quarter, compared to analyst estimates of $224.06 million. Ultra Clean had a return on equity of 20.53% and a net margin of 5.38%. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.62 earnings per share. On average, equities research analysts expect that Ultra Clean Holdings Inc will post 1.87 EPS for the current year.

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About Ultra Clean (NASDAQ:UCTT)

Ultra Clean Holdings, Inc designs, develops, prototypes, engineers, manufactures, and tests production tools, modules, and subsystems for the semiconductor and display capital equipment industries primarily in North America, Asia, and Europe. It offers precision robotic systems that are used when accurate controlled motion is required; gas delivery systems, which include one or more gas lines consisting of small diameter internally polished stainless steel tubing products, filters, mass flow controllers, regulators, pressure transducers and valves, component heaters, and an integrated electronic and/or pneumatic control system; and various industrial and automation production equipment products.

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