Ultra Clean (NASDAQ:UCTT) Shares Down 3.8% – Should You Sell?

Ultra Clean Holdings, Inc. (NASDAQ:UCTT) was down 3.8% on Thursday . The company traded as low as $34.90 and last traded at $35.03. Approximately 67,790 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 368,201 shares. The stock had previously closed at $36.43.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. TD Cowen dropped their target price on Ultra Clean from $60.00 to $57.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. Needham & Company LLC dropped their price objective on 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, Oppenheimer assumed coverage on shares of Ultra Clean in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $70.00 target price on the stock. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $57.75.

Ultra Clean Trading Up 0.1 %

The stock has a 50-day moving average price of $36.71 and a two-hundred day moving average price of $40.32. The stock has a market capitalization of $1.58 billion, a P/E ratio of 437.55 and a beta of 2.09. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.63 and a current ratio of 2.75.

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

Insider Activity

In related news, insider Jeffrey L. Mckibben sold 3,422 shares of Ultra Clean stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $38.20, for a total transaction of $130,720.40. Following the completion of the transaction, the insider now directly owns 18,805 shares of the company’s stock, valued at $718,351. This trade represents a 15.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Harjinder Bajwa bought 10,000 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were acquired at an average cost of $33.75 per share, with a total value of $337,500.00. Following the purchase, the chief operating officer now directly owns 54,291 shares of the company’s stock, valued at approximately $1,832,321.25. This represents a 22.58 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 27,500 shares of company stock worth $943,275 in the last quarter. 2.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ultra Clean

Institutional investors have recently modified their holdings of the stock. Virtu Financial LLC bought a new position in Ultra Clean in the 3rd quarter worth about $309,000. Geode Capital Management LLC lifted its stake in shares of Ultra Clean by 1.0% in the third quarter. Geode Capital Management LLC now owns 1,047,719 shares of the semiconductor company’s stock worth $41,843,000 after buying an additional 10,501 shares in the last quarter. Barclays PLC grew its holdings in shares of Ultra Clean by 395.1% during the third quarter. Barclays PLC now owns 83,577 shares of the semiconductor company’s stock valued at $3,337,000 after buying an additional 66,695 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Ultra Clean during the third quarter valued at approximately $476,000. Finally, iSAM Funds UK Ltd purchased a new position in Ultra Clean in the 3rd quarter worth approximately $399,000. 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.