Ultra Clean (NASDAQ:UCTT) Cut to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Ultra Clean from “Buy” to “Hold,” although the broader analyst consensus remains “Buy” with an average price target of $113.40.
• Ultra Clean reported quarterly earnings of $0.31 per share, beating estimates of $0.27, while revenue rose 2.9% year over year to $533.7 million.
• Insiders sold 68,203 shares worth approximately $5.84 million over the past 90 days, while institutional investors own 96.06% of the company.

Ultra Clean (NASDAQ:UCTT - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday.

A number of other brokerages have also recently commented on UCTT. Weiss Ratings cut Ultra Clean from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, July 24th. TD Cowen increased their price objective on Ultra Clean from $100.00 to $130.00 and gave the company a "buy" rating in a research note on Thursday, July 9th. Oppenheimer raised their target price on shares of Ultra Clean from $100.00 to $115.00 and gave the stock an "outperform" rating in a report on Tuesday, June 9th. UBS Group started coverage on shares of Ultra Clean in a research note on Tuesday, May 5th. They issued a "buy" rating and a $130.00 target price on the stock. Finally, Zacks Research upgraded shares of Ultra Clean from a "hold" rating to a "strong-buy" rating in a report on Monday, May 25th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $113.40.

Ultra Clean Stock Up 0.1%

UCTT opened at $83.31 on Friday. The company has a market cap of $3.73 billion, a P/E ratio of -19.42, a P/E/G ratio of 1.11 and a beta of 1.83. The business's 50-day moving average price is $100.52 and its 200-day moving average price is $75.85. The company has a current ratio of 3.07, a quick ratio of 1.72 and a debt-to-equity ratio of 0.86. Ultra Clean has a 12 month low of $21.28 and a 12 month high of $144.22.

Ultra Clean (NASDAQ:UCTT - Get Free Report) last issued its earnings results on Tuesday, April 28th. The semiconductor company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.04. Ultra Clean had a positive return on equity of 4.28% and a negative net margin of 9.38%.The company had revenue of $533.70 million during the quarter, compared to analysts' expectations of $525.28 million. During the same period in the prior year, the business posted $0.28 EPS. Ultra Clean's quarterly revenue was up 2.9% compared to the same quarter last year. On average, equities analysts expect that Ultra Clean will post 2.14 EPS for the current year.

Insider Transactions at Ultra Clean

In other news, Director Emily M. Liggett sold 8,198 shares of the firm's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $92.18, for a total value of $755,691.64. Following the completion of the sale, the director directly owned 38,152 shares of the company's stock, valued at approximately $3,516,851.36. This trade represents a 17.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jeffrey L. Mckibben sold 4,205 shares of Ultra Clean stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $87.00, for a total transaction of $365,835.00. Following the sale, the insider directly owned 11,349 shares in the company, valued at $987,363. The trade was a 27.03% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 68,203 shares of company stock worth $5,838,174. 1.80% of the stock is owned by corporate insiders.

Institutional Trading of Ultra Clean

Several large investors have recently bought and sold shares of the company. Quadrant Capital Group LLC raised its position in shares of Ultra Clean by 40.3% in the 4th quarter. Quadrant Capital Group LLC now owns 989 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 284 shares in the last quarter. Danske Bank A S lifted its stake in shares of Ultra Clean by 450.0% in the 4th quarter. Danske Bank A S now owns 1,100 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 900 shares during the period. AdvisorNet Financial Inc bought a new stake in shares of Ultra Clean during the first quarter valued at approximately $34,000. Smartleaf Asset Management LLC boosted its position in shares of Ultra Clean by 472.9% during the second quarter. Smartleaf Asset Management LLC now owns 1,713 shares of the semiconductor company's stock valued at $39,000 after purchasing an additional 1,414 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in Ultra Clean by 37.3% in the first quarter. EverSource Wealth Advisors LLC now owns 721 shares of the semiconductor company's stock worth $45,000 after purchasing an additional 196 shares during the period. 96.06% of the stock is owned by institutional investors.

Ultra Clean Company Profile

Ultra Clean Holdings, Inc is a global supplier of critical consumables and process tools for the semiconductor manufacturing industry. The company specializes in precision parts cleaning, chemical–mechanical planarization (CMP) slurries, surface conditioning pads, and specialty components used in wafer fabrication and advanced packaging. Ultra Clean also provides assembly and test hardware, tooling, and automated modules designed to support complex front-end and back-end processes in semiconductor fabs.

Ultra Clean's product portfolio encompasses a range of cleaning systems and consumables aimed at particle and film removal, as well as CMP slurries and pads that are engineered for uniform material removal and planarization.

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