Ultra Clean (NASDAQ:UCTT) Stock Price Up 8.2% - Time to Buy?

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

Analyst Upgrades and Downgrades

Several analysts recently commented on UCTT shares. Needham & Company LLC reduced their target price 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. Wall Street Zen downgraded shares of Ultra Clean from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. Oppenheimer dropped their target price on shares of Ultra Clean from $60.00 to $30.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Finally, TD Cowen cut their price objective on Ultra Clean from $48.00 to $32.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $37.00.

Ultra Clean Trading Up 0.5%

The company has a current ratio of 3.03, a quick ratio of 1.83 and a debt-to-equity ratio of 0.50. The firm's 50-day moving average is $20.64 and its 200-day moving average is $27.43. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 36.68, a P/E/G ratio of 0.87 and a beta of 2.05.

Ultra Clean (NASDAQ:UCTT - Get Free Report) last announced its quarterly 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). The business had revenue of $518.60 million during the quarter, compared to the consensus estimate of $526.13 million. Ultra Clean had a net margin of 1.31% and a return on equity of 5.50%. Ultra Clean's revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.27 EPS. As a group, sell-side analysts anticipate that Ultra Clean Holdings, Inc. will post 1.09 EPS for the current fiscal year.

Insider Activity

In other Ultra Clean news, SVP Jamie J. Palfrey sold 9,500 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $19.20, for a total value of $182,400.00. Following the transaction, the senior vice president now directly owns 30,465 shares in the company, valued at $584,928. The trade was a 23.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey L. Mckibben sold 6,294 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $20.87, for a total value of $131,355.78. Following the transaction, the insider now directly owns 21,996 shares of the company's stock, valued at approximately $459,056.52. This trade represents a 22.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,878 shares of company stock valued at $399,765 in the last ninety days. 1.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ultra Clean

Several large investors have recently modified their holdings of the business. Byrne Asset Management LLC purchased a new stake in shares of Ultra Clean in the first quarter worth $25,000. Headlands Technologies LLC purchased a new stake in Ultra Clean during the 4th quarter valued at $26,000. Versant Capital Management Inc increased its holdings in 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 purchasing an additional 1,122 shares during the period. Brooklyn Investment Group purchased a new stake in Ultra Clean in the first quarter worth $33,000. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Ultra Clean by 694.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 977 shares of the semiconductor company's stock worth $35,000 after acquiring an additional 854 shares during the period. Hedge funds and other institutional investors own 96.06% of the company's stock.

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.