Oppenheimer Lowers Ultra Clean (NASDAQ:UCTT) Price Target to $30.00

Ultra Clean (NASDAQ:UCTT) had its target price cut by investment analysts at Oppenheimer from $60.00 to $30.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the semiconductor company’s stock. Oppenheimer’s price target points to a potential upside of 54.73% from the stock’s previous close.

Separately, Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price objective on shares of Ultra Clean in a report on Thursday, March 6th.

Ultra Clean Stock Down 1.5 %

UCTT stock traded down $0.30 during midday trading on Friday, reaching $19.39. The company had a trading volume of 118,354 shares, compared to its average volume of 419,005. The company has a 50 day moving average of $27.44 and a two-hundred day moving average of $33.77. The company has a current ratio of 2.75, a quick ratio of 1.63 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. The company has a market capitalization of $875.02 million, a P/E ratio of 241.83, a PEG ratio of 0.51 and a beta of 2.14.

Insider Buying and Selling at Ultra Clean

In other news, Director Ernest E. Maddock bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average cost of $24.29 per share, with a total value of $242,900.00. Following the completion of the transaction, the director now directly owns 11,000 shares in the company, valued at $267,190. This represents a 1,000.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bill Bentinck purchased 3,000 shares of the business’s stock in a transaction on Friday, March 7th. The stock was purchased at an average cost of $25.17 per share, with a total value of $75,510.00. Following the acquisition, the insider now owns 60,695 shares in the company, valued at approximately $1,527,693.15. This represents a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Ultra Clean

A number of institutional investors have recently bought and sold shares of the business. Point72 Asset Management L.P. acquired a new stake in shares of Ultra Clean during the 3rd quarter valued at about $191,000. Jane Street Group LLC boosted its holdings in Ultra Clean by 171.1% during the third quarter. Jane Street Group LLC now owns 98,459 shares of the semiconductor company’s stock valued at $3,931,000 after purchasing an additional 62,134 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Ultra Clean in the 3rd quarter valued at approximately $476,000. Barclays PLC raised its holdings in shares of Ultra Clean by 395.1% in the 3rd quarter. Barclays PLC now owns 83,577 shares of the semiconductor company’s stock worth $3,337,000 after buying an additional 66,695 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Ultra Clean by 1.0% in the third quarter. Geode Capital Management LLC now owns 1,047,719 shares of the semiconductor company’s stock valued at $41,843,000 after acquiring an additional 10,501 shares during the period. Institutional investors and hedge funds 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.