Ultra Clean’s (UCTT) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Ultra Clean (NASDAQ:UCTT) in a report issued on Thursday morning,Benzinga reports. The brokerage currently has a $40.00 target price on the semiconductor company’s stock.

Ultra Clean Price Performance

Shares of Ultra Clean stock opened at $25.32 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 fifty-two week low of $22.85 and a fifty-two week high of $56.47. The firm has a fifty day moving average price of $35.06 and a two-hundred day moving average price of $36.13. The company has a market cap of $1.14 billion, a PE ratio of 316.54, a price-to-earnings-growth ratio of 0.51 and a beta of 2.20.

Hedge Funds Weigh In On Ultra Clean

A number of hedge funds and other institutional investors have recently made changes to their positions in UCTT. Shapiro Capital Management LLC lifted its holdings in shares of Ultra Clean by 66.8% during the 4th 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 period. Boston Partners lifted its holdings in shares of Ultra Clean by 227.1% during the 4th quarter. Boston Partners now owns 1,035,214 shares of the semiconductor company’s stock worth $37,625,000 after acquiring an additional 718,717 shares during the period. Goodman Financial Corp bought a new position in shares of Ultra Clean during the 4th quarter worth about $13,900,000. Nuveen Asset Management LLC lifted its holdings in shares of Ultra Clean by 41.3% during the 4th quarter. Nuveen Asset Management LLC now owns 714,504 shares of the semiconductor company’s stock worth $25,686,000 after acquiring an additional 208,910 shares during the period. Finally, Oberweis Asset Management Inc. lifted its holdings in shares of Ultra Clean by 39.4% during the 4th quarter. Oberweis Asset Management Inc. now owns 613,300 shares of the semiconductor company’s stock worth $22,048,000 after acquiring an additional 173,200 shares during the period. 96.06% of the stock is owned by 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.