Ultra Clean (NASDAQ:UCTT) Shares Gap Down Following Weak Earnings

Shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT - Get Free Report) gapped down before the market opened on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $22.30, but opened at $19.09. Ultra Clean shares last traded at $19.68, with a volume of 115,323 shares traded.

The semiconductor company reported $0.28 EPS for the quarter, missing analysts' consensus estimates of $0.31 by ($0.03). Ultra Clean had a return on equity of 4.08% and a net margin of 0.18%. The business had revenue of $518.60 million during the quarter, compared to analysts' expectations of $526.13 million. During the same period in the previous year, the business earned $0.27 EPS. The business's revenue was up 8.6% compared to the same quarter last year.

Wall Street Analyst Weigh In

UCTT has been the subject of a number of recent research reports. TD Cowen lowered their price target on shares of Ultra Clean from $48.00 to $32.00 and set a "buy" rating for the company in a research report on Tuesday. Oppenheimer dropped their price target on Ultra Clean from $60.00 to $30.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Needham & Company LLC lowered their price objective on Ultra Clean from $40.00 to $26.00 and set a "buy" rating for the company in a research note on Tuesday. Finally, StockNews.com downgraded Ultra Clean from a "hold" rating to a "sell" rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $37.00.

Insider Buying and Selling

In other Ultra Clean news, insider Bill Bentinck purchased 3,000 shares of Ultra Clean stock in a transaction dated Friday, March 7th. The stock was purchased at an average price of $25.17 per share, with a total value of $75,510.00. Following the transaction, the insider now directly owns 60,695 shares of the company's stock, valued at $1,527,693.15. This trade represents a 5.20 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ernest E. Maddock acquired 10,000 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average cost of $24.29 per share, for a total transaction of $242,900.00. Following the acquisition, the director now owns 11,000 shares of the company's stock, valued at $267,190. The trade was a 1,000.00 % increase in their position. The disclosure for this purchase can be found here. 2.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC purchased a new stake in shares of Ultra Clean in the 4th quarter worth $26,000. Nisa Investment Advisors LLC increased its position in Ultra Clean by 107.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 948 shares of the semiconductor company's stock worth $34,000 after buying an additional 490 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Ultra Clean by 694.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 977 shares of the semiconductor company's stock worth $35,000 after buying an additional 854 shares during the period. Byrne Asset Management LLC bought a new position in shares of Ultra Clean in the first quarter worth about $25,000. Finally, Versant Capital Management Inc lifted its position in shares of Ultra Clean by 386.9% during the 1st quarter. Versant Capital Management Inc now owns 1,412 shares of the semiconductor company's stock valued at $30,000 after buying an additional 1,122 shares in the last quarter. 96.06% of the stock is currently owned by institutional investors.

Ultra Clean Trading Up 8.2 %

The company has a current ratio of 2.75, a quick ratio of 1.63 and a debt-to-equity ratio of 0.52. The stock has a 50 day moving average of $21.93 and a 200-day moving average of $31.68. The company has a market capitalization of $910.31 million, a P/E ratio of 252.16, a P/E/G ratio of 0.51 and a beta of 2.14.

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.