Ultra Clean (NASDAQ:UCTT) Price Target Cut to $57.00 by Analysts at TD Cowen

Ultra Clean (NASDAQ:UCTT - Free Report) had its target price decreased by TD Cowen from $60.00 to $57.00 in a research report sent to investors on Tuesday, Benzinga reports. TD Cowen currently has a buy rating on the semiconductor company's stock.

UCTT has been the topic of a number of other research reports. Craig Hallum raised their target price on shares of Ultra Clean from $52.00 to $60.00 and gave the stock a "buy" rating in a research report on Friday, July 26th. Oppenheimer began coverage on shares of Ultra Clean in a research note on Wednesday, September 25th. They set an "outperform" rating and a $70.00 price target on the stock. Finally, Needham & Company LLC cut their price target on shares of Ultra Clean from $50.00 to $44.00 and set a "buy" rating on the stock in a research note on Tuesday. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $57.75.

Ultra Clean Trading Up 0.2 %

NASDAQ UCTT traded up $0.07 during mid-day trading on Tuesday, reaching $35.12. 1,514,149 shares of the stock were exchanged, compared to its average volume of 366,417. Ultra Clean has a 1-year low of $23.26 and a 1-year high of $56.47. The business's fifty day simple moving average is $36.67 and its 200 day simple moving average is $42.09. The stock has a market capitalization of $1.57 billion, a PE ratio of -42.83 and a beta of 2.08. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.60 and a current ratio of 2.73.

Hedge Funds Weigh In On Ultra Clean

Hedge funds have recently made changes to their positions in the business. Vaughan Nelson Investment Management L.P. raised its stake in shares of Ultra Clean by 6.4% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 860,798 shares of the semiconductor company's stock valued at $42,179,000 after acquiring an additional 52,075 shares during the period. Comerica Bank raised its stake in shares of Ultra Clean by 512.5% in the 1st quarter. Comerica Bank now owns 134,289 shares of the semiconductor company's stock valued at $6,169,000 after acquiring an additional 112,366 shares during the period. Versor Investments LP purchased a new position in shares of Ultra Clean in the 2nd quarter valued at $828,000. SG Americas Securities LLC purchased a new position in shares of Ultra Clean in the 3rd quarter valued at $879,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of Ultra Clean by 454.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 335,096 shares of the semiconductor company's stock valued at $13,380,000 after acquiring an additional 274,628 shares during the period. 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.