Ultra Clean (NASDAQ:UCTT) Trading Up 4.8% – Should You Buy?

Ultra Clean Holdings, Inc. (NASDAQ:UCTT)’s stock price traded up 4.8% on Wednesday . The company traded as high as $39.79 and last traded at $39.68. 75,758 shares traded 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

A number of brokerages have issued reports on UCTT. TD Cowen raised their target price on shares of Ultra Clean from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Craig Hallum boosted their price objective on Ultra Clean from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Oppenheimer assumed coverage on Ultra Clean in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $70.00 target price on the stock. Finally, Needham & Company LLC reissued a “buy” rating and set a $56.00 price target on shares of Ultra Clean in a report on Friday, July 26th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $61.50.

Ultra Clean Stock Up 3.0 %

The stock’s fifty day moving average is $37.12 and its two-hundred day moving average is $43.04. The company has a current ratio of 2.73, a quick ratio of 1.60 and a debt-to-equity ratio of 0.52.

Ultra Clean (NASDAQ:UCTT) last issued its earnings results on Thursday, July 25th. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter. The business had revenue of $516.10 million for the quarter, compared to analysts’ expectations of $490.06 million. Ultra Clean had a positive return on equity of 2.59% and a negative net margin of 0.46%. The company’s quarterly revenue was up 22.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.16 EPS. As a group, sell-side analysts anticipate that Ultra Clean Holdings, Inc. will post 1.1 EPS for the current year.

Insider Activity at Ultra Clean

In other Ultra Clean news, CFO Sheri Savage sold 897 shares of Ultra Clean stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $55.87, for a total transaction of $50,115.39. Following the transaction, the chief financial officer now owns 51,678 shares of the company’s stock, valued at $2,887,249.86. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Ultra Clean news, CFO Sheri Savage sold 897 shares of Ultra Clean stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $55.87, for a total transaction of $50,115.39. Following the completion of the sale, the chief financial officer now owns 51,678 shares of the company’s stock, valued at $2,887,249.86. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO James P. Scholhamer sold 26,608 shares of the company’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $55.10, for a total transaction of $1,466,100.80. Following the completion of the transaction, the chief executive officer now directly owns 418,453 shares in the company, valued at $23,056,760.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,584 shares of company stock valued at $2,062,296. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of UCTT. SG Americas Securities LLC acquired a new position in Ultra Clean during the third quarter worth $879,000. Truist Financial Corp raised its stake in shares of Ultra Clean by 4.6% in the 2nd quarter. Truist Financial Corp now owns 7,080 shares of the semiconductor company’s stock valued at $347,000 after acquiring an additional 310 shares in the last quarter. Algert Global LLC acquired a new stake in Ultra Clean in the 2nd quarter worth approximately $795,000. The Manufacturers Life Insurance Company lifted its holdings in Ultra Clean by 3.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,499 shares of the semiconductor company’s stock worth $1,200,000 after purchasing an additional 929 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C acquired a new position in Ultra Clean during the second quarter valued at approximately $414,000. Institutional investors own 96.06% of the company’s stock.

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.