Ultra Clean (NASDAQ:UCTT) Trading 8.2% Higher - Still a Buy?

Ultra Clean Holdings, Inc. (NASDAQ:UCTT - Get Free Report) was up 8.2% during trading on Tuesday . The company traded as high as $21.37 and last traded at $21.57. Approximately 247,289 shares were traded during trading, a decline of 49% from the average daily volume of 483,367 shares. The stock had previously closed at $19.93.

Wall Street Analyst Weigh In

A number of brokerages have commented on UCTT. Oppenheimer cut their price objective on shares of Ultra Clean from $60.00 to $30.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Wall Street Zen cut Ultra Clean from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. TD Cowen dropped 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 note on Tuesday, April 29th. Finally, Needham & Company LLC decreased their price objective on shares of Ultra Clean from $40.00 to $26.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $37.00.

Ultra Clean Stock Up 12.0%

The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.83 and a current ratio of 3.03. The firm has a market capitalization of $1.01 billion, a P/E ratio of 35.73, a P/E/G ratio of 0.78 and a beta of 2.05. The stock has a fifty day moving average price of $20.43 and a two-hundred day moving average price of $27.61.

Ultra Clean (NASDAQ:UCTT - Get Free Report) last released its earnings results on Monday, April 28th. The semiconductor company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.03). Ultra Clean had a net margin of 1.31% and a return on equity of 5.50%. The business had revenue of $518.60 million for the quarter, compared to the consensus estimate of $526.13 million. During the same quarter in the previous year, the firm earned $0.27 EPS. The firm's revenue for the quarter was up 8.6% on a year-over-year basis. Research analysts forecast that Ultra Clean Holdings, Inc. will post 1.09 EPS for the current year.

Insider Activity

In related news, SVP Jamie J. Palfrey sold 9,500 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $19.20, for a total value of $182,400.00. Following the completion of the transaction, the senior vice president now directly owns 30,465 shares of the company's stock, valued at $584,928. This represents a 23.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Paul Yoonku Cho sold 4,084 shares of Ultra Clean stock in a transaction on Friday, June 6th. The shares were sold at an average price of $21.06, for a total value of $86,009.04. Following the sale, the general counsel now directly owns 23,345 shares in the company, valued at $491,645.70. The trade was a 14.89% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,878 shares of company stock valued at $399,765. 1.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Byrne Asset Management LLC bought a new position in Ultra Clean in the 1st quarter valued at about $25,000. Headlands Technologies LLC acquired a new stake in shares of Ultra Clean in the fourth quarter valued at $26,000. Versant Capital Management Inc grew its holdings in Ultra Clean by 386.9% during the first quarter. Versant Capital Management Inc now owns 1,412 shares of the semiconductor company's stock worth $30,000 after acquiring an additional 1,122 shares during the period. Brooklyn Investment Group acquired a new stake in Ultra Clean in the 1st quarter valued at about $33,000. Finally, Smartleaf Asset Management LLC grew its stake in shares of Ultra Clean by 694.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 977 shares of the semiconductor company's stock worth $35,000 after purchasing an additional 854 shares during the last quarter. 96.06% of the stock is 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.

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