Ultra Clean (NASDAQ:UCTT) Trading 4.8% Higher

Ultra Clean Holdings, Inc. (NASDAQ:UCTT) shares traded up 4.8% during mid-day trading on Wednesday . The stock traded as high as $39.79 and last traded at $39.68. 75,758 shares changed hands during trading, a decline of 79% from the average session volume of 355,655 shares. The stock had previously closed at $37.85.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Oppenheimer started coverage on shares of Ultra Clean in a research report on Wednesday, September 25th. They set an “outperform” rating and a $70.00 price target for the company. TD Cowen raised their price objective on Ultra Clean from $55.00 to $60.00 and gave the company a “buy” rating in a report on Friday, July 26th. Craig Hallum increased their target price on shares of Ultra Clean from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Needham & Company LLC restated a “buy” rating and set a $56.00 price target on shares of Ultra Clean in a research report on Friday, July 26th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.50.

Ultra Clean Trading Up 5.4 %

The company has a current ratio of 2.73, a quick ratio of 1.60 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $1.78 billion, a PE ratio of -49.57 and a beta of 2.09. The business has a fifty day moving average price of $37.38 and a two-hundred day moving average price of $43.09.

Ultra Clean (NASDAQ:UCTT) last posted its quarterly earnings data on Thursday, July 25th. The semiconductor company reported $0.21 EPS for the quarter. Ultra Clean had a negative net margin of 0.46% and a positive return on equity of 2.59%. The business had revenue of $516.10 million during the quarter, compared to analyst estimates of $490.06 million. During the same quarter last year, the firm posted $0.16 earnings per share. The business’s revenue for the quarter was up 22.4% compared to the same quarter last year. Analysts expect that Ultra Clean Holdings, Inc. will post 1.1 EPS for the current fiscal year.

Insider Transactions at Ultra Clean

In other Ultra Clean news, CFO Sheri Savage sold 10,079 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $54.18, for a total transaction of $546,080.22. Following the completion of the sale, the chief financial officer now directly owns 52,575 shares of the company’s stock, valued at approximately $2,848,513.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO James P. Scholhamer sold 26,608 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $55.10, for a total value of $1,466,100.80. Following the completion of the sale, the chief executive officer now directly owns 418,453 shares in the company, valued at $23,056,760.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Sheri Savage sold 10,079 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $54.18, for a total transaction of $546,080.22. Following the completion of the transaction, the chief financial officer now owns 52,575 shares in the company, valued at approximately $2,848,513.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,584 shares of company stock valued at $2,062,296. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Ultra Clean

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UCTT. GAMMA Investing LLC grew its position in Ultra Clean by 52.1% in the second quarter. GAMMA Investing LLC now owns 622 shares of the semiconductor company’s stock worth $30,000 after buying an additional 213 shares during the last quarter. CWM LLC grew its stake in Ultra Clean by 46.3% in the 2nd quarter. CWM LLC now owns 800 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 253 shares during the last quarter. Truist Financial Corp lifted its position in shares of Ultra Clean by 4.6% during the 2nd quarter. Truist Financial Corp now owns 7,080 shares of the semiconductor company’s stock worth $347,000 after purchasing an additional 310 shares during the last quarter. SummerHaven Investment Management LLC increased its position in Ultra Clean by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 19,993 shares of the semiconductor company’s stock worth $980,000 after acquiring an additional 331 shares during the period. Finally, Louisiana State Employees Retirement System lifted its stake in shares of Ultra Clean by 1.8% in the second quarter. Louisiana State Employees Retirement System now owns 22,600 shares of the semiconductor company’s stock valued at $1,107,000 after buying an additional 400 shares during the period. 96.06% of the stock is owned by institutional investors.

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.