Ultra Clean (NASDAQ:UCTT) Shares Up 3.7% – Still a Buy?

Shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT) rose 3.7% during trading on Thursday . The company traded as high as $38.15 and last traded at $37.99. Approximately 15,047 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 274,817 shares. The stock had previously closed at $36.63.

Analysts Set New Price Targets

Several research analysts have commented on UCTT shares. Oppenheimer started coverage on shares of Ultra Clean in a report on Wednesday, September 25th. They issued an “outperform” rating and a $70.00 price objective for the company. Needham & Company LLC decreased their price target on shares of Ultra Clean from $50.00 to $44.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Finally, TD Cowen cut their price objective on shares of Ultra Clean from $60.00 to $57.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th.

Ultra Clean Stock Performance

The business’s fifty day moving average price is $37.09 and its 200-day moving average price is $38.93. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.63 and a current ratio of 2.75. The stock has a market cap of $1.73 billion, a PE ratio of 481.25 and a beta of 2.10.

Ultra Clean (NASDAQ:UCTT) last posted its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. Ultra Clean had a return on equity of 4.08% and a net margin of 0.18%. The firm had revenue of $540.40 million for the quarter, compared to analysts’ expectations of $515.88 million. During the same period in the previous year, the firm earned ($0.03) EPS. The business’s quarterly revenue was up 24.2% on a year-over-year basis. As a group, equities research analysts forecast that Ultra Clean Holdings, Inc. will post 1.09 EPS for the current fiscal year.

Insider Transactions at Ultra Clean

In related news, insider Jeffrey L. Mckibben sold 3,422 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $38.20, for a total value of $130,720.40. Following the transaction, the insider now directly owns 18,805 shares of the company’s stock, valued at approximately $718,351. The trade was a 15.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Harjinder Bajwa acquired 15,000 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were purchased at an average cost of $34.83 per share, for a total transaction of $522,450.00. Following the completion of the acquisition, the chief operating officer now directly owns 44,291 shares in the company, valued at approximately $1,542,655.53. This represents a 51.21 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 27,500 shares of company stock valued at $943,275 over the last 90 days. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Ultra Clean

Large investors have recently made changes to their positions in the company. Signaturefd LLC boosted its position in Ultra Clean by 465.5% in the 3rd quarter. Signaturefd LLC now owns 803 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 661 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Ultra Clean in the third quarter worth $32,000. GAMMA Investing LLC grew its holdings in Ultra Clean by 92.4% in the third quarter. GAMMA Investing LLC now owns 1,197 shares of the semiconductor company’s stock worth $48,000 after purchasing an additional 575 shares during the last quarter. Quarry LP grew its holdings in shares of Ultra Clean by 447.5% during the third quarter. Quarry LP now owns 1,210 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 989 shares during the last quarter. Finally, CWM LLC grew its holdings in shares of Ultra Clean by 204.3% during the third quarter. CWM LLC now owns 2,434 shares of the semiconductor company’s stock valued at $97,000 after buying an additional 1,634 shares during the last quarter. 96.06% of the stock is owned by hedge funds and other 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.