Ultra Clean (NASDAQ:UCTT) Share Price Passes Above 200 Day Moving Average of $40.93

Shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT) crossed 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 traded.

Wall Street Analysts Forecast Growth

UCTT has been the topic of several recent analyst reports. TD Cowen increased their target price on Ultra Clean from $47.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Needham & Company LLC raised their target price on Ultra Clean from $50.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Ultra Clean has a consensus rating of “Moderate Buy” and an average target price of $57.00.

Ultra Clean Price Performance

The stock 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 company’s 50 day moving average is $44.47 and its 200 day moving average is $40.93.

Ultra Clean (NASDAQ:UCTT) last announced its earnings results on Monday, May 6th. The semiconductor company reported $0.20 EPS for the quarter. Ultra Clean had a negative net margin of 2.09% and a positive return on equity of 2.19%. The business had revenue of $477.70 million during the quarter, compared to analysts’ expectations of $455.00 million.

Insider Buying and Selling

In related news, CFO Sheri Savage sold 15,319 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $46.00, for a total value of $704,674.00. Following the sale, the chief financial officer now directly owns 75,044 shares in the company, valued at approximately $3,452,024. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Jeffrey L. Mckibben sold 5,946 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $45.00, for a total transaction of $267,570.00. Following the transaction, the insider now owns 24,125 shares of the company’s stock, valued at $1,085,625. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sheri Savage sold 15,319 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $46.00, for a total value of $704,674.00. Following the sale, the chief financial officer now owns 75,044 shares in the company, valued at approximately $3,452,024. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,048 shares of company stock valued at $2,813,361. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of Ultra Clean

A number of hedge funds have recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC increased its holdings in Ultra Clean by 1.8% in the 4th quarter. SummerHaven Investment Management LLC now owns 19,384 shares of the semiconductor company’s stock valued at $662,000 after purchasing an additional 347 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Ultra Clean by 19.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,164 shares of the semiconductor company’s stock worth $108,000 after buying an additional 514 shares during the last quarter. Texas Permanent School Fund Corp increased its position in Ultra Clean by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 39,236 shares of the semiconductor company’s stock worth $1,803,000 after buying an additional 525 shares during the period. Everence Capital Management Inc. increased its holdings in shares of Ultra Clean by 7.1% in the 4th quarter. Everence Capital Management Inc. now owns 7,980 shares of the semiconductor company’s stock worth $272,000 after acquiring an additional 530 shares during the period. Finally, Swiss National Bank raised its holdings in shares of Ultra Clean by 0.7% during the third quarter. Swiss National Bank now owns 98,200 shares of the semiconductor company’s stock valued at $2,914,000 after buying an additional 700 shares during the last quarter. 96.06% of the stock is owned by institutional investors and hedge funds.

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.