Ultra Clean (NASDAQ:UCTT) Stock Crosses Above 200-Day Moving Average of $40.93

Ultra Clean Holdings, Inc. (NASDAQ:UCTT) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $40.93 and traded as high as $50.24. Ultra Clean shares last traded at $49.25, with a volume of 296,133 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on UCTT shares. Needham & Company LLC upped their price target on Ultra Clean from $50.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. TD Cowen boosted their target price on shares of Ultra Clean from $47.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $57.00.

Ultra Clean Price Performance

The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of -60.06 and a beta of 2.11. The company has a current ratio of 2.76, a quick ratio of 1.58 and a debt-to-equity ratio of 0.52. The business has a 50-day moving average price of $44.47 and a two-hundred day moving average price of $40.93.

Ultra Clean (NASDAQ:UCTT) last issued its earnings results on Monday, May 6th. The semiconductor company reported $0.20 earnings per share for the quarter. The firm had revenue of $477.70 million for the quarter, compared to analyst estimates of $455.00 million. Ultra Clean had a positive return on equity of 2.19% and a negative net margin of 2.09%.

Insider Activity at Ultra Clean

In other news, CFO Sheri Savage sold 2,708 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $47.18, for a total transaction of $127,763.44. Following the completion of the transaction, the chief financial officer now directly owns 72,336 shares in the company, valued at $3,412,812.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Sheri Savage sold 2,708 shares of Ultra Clean stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $47.18, for a total transaction of $127,763.44. Following the sale, the chief financial officer now directly owns 72,336 shares in the company, valued at $3,412,812.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Brian E. Harding sold 11,000 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $43.89, for a total transaction of $482,790.00. Following the completion of the transaction, the chief accounting officer now owns 37,415 shares of the company’s stock, valued at approximately $1,642,144.35. The disclosure for this sale can be found here. Insiders have sold a total of 63,048 shares of company stock worth $2,813,361 in the last ninety days. 2.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in UCTT. Meeder Asset Management Inc. acquired a new stake in Ultra Clean in the fourth quarter worth approximately $59,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Ultra Clean in the first quarter valued at $96,000. TFO Wealth Partners LLC boosted its stake in Ultra Clean by 27,160.0% during the fourth quarter. TFO Wealth Partners LLC now owns 2,726 shares of the semiconductor company’s stock valued at $93,000 after buying an additional 2,716 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Ultra Clean by 19.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,164 shares of the semiconductor company’s stock worth $108,000 after acquiring an additional 514 shares during the period. Finally, Whalen Wealth Management Inc. bought a new stake in Ultra Clean in the first quarter worth about $237,000. Institutional investors and hedge funds own 96.06% of the company’s stock.

Ultra Clean Company Profile

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.