Ultra Clean Holdings, Inc. (NASDAQ:UCTT) Sees Significant Drop in Short Interest

Ultra Clean Holdings, Inc. (NASDAQ:UCTT - Get Free Report) saw a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 798,900 shares, a decrease of 18.3% from the March 15th total of 977,300 shares. Based on an average trading volume of 342,600 shares, the days-to-cover ratio is currently 2.3 days. Currently, 1.8% of the shares of the stock are short sold.

Analyst Ratings Changes

A number of analysts have commented on the stock. Needham & Company LLC upped their price objective on shares of Ultra Clean from $46.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, February 22nd. TD Cowen upped their price objective on shares of Ultra Clean from $32.00 to $47.00 and gave the company an "outperform" rating in a research note on Thursday, February 22nd. Finally, TheStreet raised shares of Ultra Clean from a "d+" rating to a "c-" rating in a research note on Friday, December 29th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $52.33.

Institutional Trading of Ultra Clean

Hedge funds have recently made changes to their positions in the stock. Dark Forest Capital Management LP lifted its position in shares of Ultra Clean by 6,364.3% in the first quarter. Dark Forest Capital Management LP now owns 905 shares of the semiconductor company's stock worth $30,000 after purchasing an additional 891 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Ultra Clean by 813.0% in the first quarter. Tower Research Capital LLC TRC now owns 1,333 shares of the semiconductor company's stock worth $44,000 after buying an additional 1,187 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in Ultra Clean in the second quarter worth approximately $48,000. Worth Asset Management LLC acquired a new position in Ultra Clean in the first quarter worth approximately $49,000. Finally, Meeder Asset Management Inc. acquired a new position in Ultra Clean in the fourth quarter worth approximately $59,000. 96.06% of the stock is owned by hedge funds and other institutional investors.

Ultra Clean Trading Down 3.7 %

UCTT stock traded down $1.66 during mid-day trading on Friday, reaching $43.79. 207,651 shares of the stock traded hands, compared to its average volume of 239,259. The stock's fifty day moving average is $44.18 and its 200-day moving average is $34.90. The company has a current ratio of 2.88, a quick ratio of 1.67 and a debt-to-equity ratio of 0.51. The company has a market cap of $1.96 billion, a P/E ratio of -63.46 and a beta of 2.03. Ultra Clean has a 52-week low of $22.15 and a 52-week high of $49.25.

Ultra Clean (NASDAQ:UCTT - Get Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $0.12 earnings per share (EPS) for the quarter. The business had revenue of $444.80 million during the quarter, compared to analyst estimates of $444.99 million. Ultra Clean had a negative net margin of 1.79% and a positive return on equity of 1.69%.

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.