Ultra Clean (NASDAQ:UCTT) Given New $30.00 Price Target at Oppenheimer

Ultra Clean (NASDAQ:UCTT - Free Report) had its price objective decreased by Oppenheimer from $60.00 to $30.00 in a research note published on Friday,Benzinga reports. Oppenheimer currently has an outperform rating on the semiconductor company's stock.

Separately, Needham & Company LLC reaffirmed a "buy" rating and set a $40.00 target price on shares of Ultra Clean in a research report on Thursday, March 6th.

Ultra Clean Trading Down 6.8 %

NASDAQ UCTT traded down $1.35 on Friday, hitting $18.41. The company's stock had a trading volume of 332,511 shares, compared to its average volume of 422,625. The firm has a market cap of $830.88 million, a PE ratio of 230.15, a PEG ratio of 0.51 and a beta of 2.14. The company's 50-day moving average is $26.34 and its 200 day moving average is $33.36. The company has a quick ratio of 1.63, a current ratio of 2.75 and a debt-to-equity ratio of 0.52. Ultra Clean has a 1-year low of $16.66 and a 1-year high of $56.47.

Insider Buying and Selling

In other Ultra Clean news, insider Bill Bentinck bought 3,000 shares of the stock in a transaction on Friday, March 7th. The stock was acquired at an average cost of $25.17 per share, for a total transaction of $75,510.00. Following the completion of the acquisition, the insider now owns 60,695 shares in the company, valued at $1,527,693.15. This trade represents a 5.20 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ernest E. Maddock bought 10,000 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average price of $24.29 per share, for a total transaction of $242,900.00. Following the transaction, the director now directly owns 11,000 shares in the company, valued at $267,190. This trade represents a 1,000.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.20% of the stock is owned by insiders.

Institutional Trading of Ultra Clean

Several large investors have recently made changes to their positions in the company. New York State Common Retirement Fund raised its stake in Ultra Clean by 132.6% during the 4th quarter. New York State Common Retirement Fund now owns 36,225 shares of the semiconductor company's stock worth $1,302,000 after buying an additional 20,650 shares during the period. Smartleaf Asset Management LLC raised its position in shares of Ultra Clean by 694.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 977 shares of the semiconductor company's stock worth $35,000 after purchasing an additional 854 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Ultra Clean by 3.1% in the 4th quarter. Principal Financial Group Inc. now owns 219,821 shares of the semiconductor company's stock worth $7,903,000 after purchasing an additional 6,546 shares in the last quarter. Barclays PLC grew its position in Ultra Clean by 395.1% in the 3rd quarter. Barclays PLC now owns 83,577 shares of the semiconductor company's stock valued at $3,337,000 after purchasing an additional 66,695 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Ultra Clean by 27.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 506,107 shares of the semiconductor company's stock valued at $20,209,000 after purchasing an additional 110,403 shares in the last quarter. 96.06% of the stock is currently 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.