Needham & Company Maintains a 'Buy' on Ultra Clean (UCTT); Adjusting Estimates in Conjunction With Our Updated Industry Outlook

Needham & Company maintains a 'Buy' on Ultra Clean (NASDAQ: UCTT) price target lowered from $11 to $7.

Needham analyst says, "We are adjusting our estimates and lowering our price target for UCTT, in conjunction with our updated industry outlook titled: Semiconductor Capital Equipment Update Volume 23: Picking a Bottom. Adjusting estimates and PT. We lower our 2011 revenue/non-GAAP EPS estimates to $472MM/$0.84, and our 2012 estimates to $428MM/ $0.68."

For more ratings news on Ultra Clean click here and for the rating history of Ultra Clean click here.

Shares of Ultra Clean closed at $5.10 yesterday.

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