Ultra Clean (NASDAQ:UCTT) Now Covered by Oppenheimer

Oppenheimer initiated coverage on shares of Ultra Clean (NASDAQ:UCTT) in a report published on Wednesday, MarketBeat.com reports. The brokerage issued an outperform rating and a $70.00 target price on the semiconductor company’s stock.

A number of other brokerages have also issued reports on UCTT. TD Cowen lifted their price target on shares of Ultra Clean from $55.00 to $60.00 and gave the stock a buy rating in a research note on Friday, July 26th. Needham & Company LLC reissued a buy rating and issued a $56.00 target price on shares of Ultra Clean in a research report on Friday, July 26th. Finally, Craig Hallum increased their price target on shares of Ultra Clean from $52.00 to $60.00 and gave the stock a buy rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Ultra Clean currently has a consensus rating of Moderate Buy and a consensus target price of $61.50.

Ultra Clean Stock Performance

NASDAQ:UCTT opened at $40.16 on Wednesday. The firm has a 50-day moving average of $37.79 and a two-hundred day moving average of $43.18. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.73 and a quick ratio of 1.60. The stock has a market cap of $1.81 billion, a P/E ratio of -48.98 and a beta of 2.09. Ultra Clean has a 1-year low of $22.15 and a 1-year high of $56.47.

Ultra Clean (NASDAQ:UCTT) last issued its quarterly earnings results on Thursday, July 25th. The semiconductor company reported $0.21 EPS for the quarter. Ultra Clean had a positive return on equity of 2.59% and a negative net margin of 0.46%. The firm had revenue of $516.10 million during the quarter, compared to the consensus estimate of $490.06 million. During the same quarter in the prior year, the business posted $0.16 earnings per share. Ultra Clean’s revenue for the quarter was up 22.4% on a year-over-year basis.

Insider Buying and Selling

In other news, CEO James P. Scholhamer sold 26,608 shares of Ultra Clean stock in a transaction dated 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 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 document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Sheri Savage sold 9,682 shares of Ultra Clean stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $51.08, for a total value of $494,556.56. Following the sale, the chief financial officer now directly owns 62,654 shares in the company, valued at approximately $3,200,366.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO James P. Scholhamer sold 26,608 shares of the business’s stock in a transaction dated Tuesday, July 9th. The shares were 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 $23,056,760.30. The disclosure for this sale can be found here. Insiders have sold 47,266 shares of company stock worth $2,556,853 over the last ninety days. 2.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Ultra Clean

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

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.