Ultra Clean (NASDAQ:UCTT) Shares Gap Up Following Analyst Upgrade

Shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT) gapped up before the market opened on Friday after TD Cowen raised their price target on the stock from $55.00 to $60.00. The stock had previously closed at $45.13, but opened at $54.00. TD Cowen currently has a buy rating on the stock. Ultra Clean shares last traded at $48.00, with a volume of 131,723 shares traded.

Separately, Needham & Company LLC restated a “buy” rating and set a $56.00 price objective on shares of Ultra Clean in a report on Friday. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Ultra Clean has a consensus rating of “Moderate Buy” and a consensus price target of $58.67.

Insider Buying and Selling

In other news, CFO Sheri Savage sold 897 shares of the stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $55.87, for a total value 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $55.10, for a total transaction of $1,466,100.80. Following the transaction, the chief executive officer now directly owns 418,453 shares of the company’s stock, valued at approximately $23,056,760.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sheri Savage sold 897 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $55.87, for a total value of $50,115.39. Following the completion of the transaction, the chief financial officer now owns 51,678 shares of the company’s stock, valued at approximately $2,887,249.86. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,314 shares of company stock valued at $5,370,214. 2.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in UCTT. Frontier Capital Management Co. LLC boosted its holdings in Ultra Clean by 37.5% in the fourth quarter. Frontier Capital Management Co. LLC now owns 2,559,943 shares of the semiconductor company’s stock valued at $87,396,000 after purchasing an additional 698,242 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Ultra Clean by 4.7% in the 3rd quarter. Vanguard Group Inc. now owns 4,211,736 shares of the semiconductor company’s stock valued at $124,962,000 after purchasing an additional 190,942 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Ultra Clean by 4.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,343 shares of the semiconductor company’s stock valued at $695,000 after buying an additional 930 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Ultra Clean by 25.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 121,526 shares of the semiconductor company’s stock worth $4,149,000 after buying an additional 24,670 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Ultra Clean by 6.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 20,350 shares of the semiconductor company’s stock worth $655,000 after buying an additional 1,303 shares during the last quarter. 96.06% of the stock is owned by institutional investors and hedge funds.

Ultra Clean Stock Up 6.0 %

The company has a debt-to-equity ratio of 0.52, a current ratio of 2.76 and a quick ratio of 1.58. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of -58.54 and a beta of 2.13. The firm’s fifty day moving average is $48.54 and its 200-day moving average is $44.23.

Ultra Clean (NASDAQ:UCTT) last issued its earnings results on Monday, May 6th. The semiconductor company reported $0.20 earnings per share (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 for the quarter, compared to analyst estimates of $455.00 million.

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.