Ultra Clean (NASDAQ:UCTT) Earns Buy Rating from Needham & Company LLC

Ultra Clean (NASDAQ:UCTT)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a report issued on Thursday,Benzinga reports. They presently have a $40.00 price target on the semiconductor company’s stock. Needham & Company LLC’s target price indicates a potential upside of 64.95% from the stock’s current price.

Ultra Clean Stock Up 2.0 %

Shares of UCTT stock opened at $24.25 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.75 and a quick ratio of 1.63. Ultra Clean has a one year low of $22.85 and a one year high of $56.47. The company’s fifty day moving average price is $35.79 and its 200-day moving average price is $36.40. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 303.16, a PEG ratio of 0.51 and a beta of 2.09.

Hedge Funds Weigh In On Ultra Clean

Several large investors have recently made changes to their positions in the business. AWM Investment Company Inc. raised its stake in Ultra Clean by 22.0% during the 4th quarter. AWM Investment Company Inc. now owns 184,917 shares of the semiconductor company’s stock valued at $6,648,000 after purchasing an additional 33,300 shares during the period. PharVision Advisers LLC purchased a new stake in Ultra Clean during the 4th quarter valued at approximately $291,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Ultra Clean by 6.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 72,089 shares of the semiconductor company’s stock valued at $2,592,000 after buying an additional 4,194 shares during the last quarter. Twinbeech Capital LP purchased a new position in shares of Ultra Clean in the fourth quarter worth $529,000. Finally, Shapiro Capital Management LLC boosted its position in shares of Ultra Clean by 66.8% during the fourth quarter. Shapiro Capital Management LLC now owns 2,746,482 shares of the semiconductor company’s stock worth $98,736,000 after acquiring an additional 1,099,899 shares during the last quarter. 96.06% of the stock is currently owned by hedge funds and other institutional investors.

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.