Needham Believes Ultra Clean Holdings (NASDAQ: UCTT) Won’t Stop Here

Needham analyst Quinn Bolton assigned a Buy rating to Ultra Clean Holdings (UCTTResearch Report) today and set a price target of $55.00. The company’s shares closed last Wednesday at $50.69, close to its 52-week high of $51.88.

According to TipRanks.com, Bolton is a top 25 analyst with an average return of 48.8% and a 80.4% success rate. Bolton covers the Technology sector, focusing on stocks such as MACOM Technology Solutions Holdings, Allegro MicroSystems, and Axcelis Technologies.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Ultra Clean Holdings with a $46.00 average price target.

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Based on Ultra Clean Holdings’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $363 million and net profit of $24.4 million. In comparison, last year the company earned revenue of $254 million and had a net profit of $500K.

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Ultra Clean Holdings, Inc. engages in the design, and manufacture of production tools, modules and subsystems for the semiconductor capital equipment industry. Its products include engineering, new product introductory (NPI), supply chain management, chemical and gas delivery, metal fabrication, precision machining, system integration, and thermal control. The company was founded in November 2002 and is headquartered in Hayward, CA.