Ultra Clean (NASDAQ:UCTT) Hits New 1-Year High – Here’s What Happened

Ultra Clean Holdings, Inc. (NASDAQ:UCTT) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $49.40 and last traded at $48.8350, with a volume of 60339 shares. The stock had previously closed at $48.29.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Ultra Clean in a research note on Monday, December 29th. Needham & Company LLC lifted their price objective on shares of Ultra Clean from $35.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. TD Cowen boosted their price objective on shares of Ultra Clean from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, Oppenheimer reiterated an “outperform” rating on shares of Ultra Clean in a research note on Wednesday, October 29th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.33.

Ultra Clean Trading Up 3.8%

The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.91 and a current ratio of 3.21. The business’s 50 day moving average price is $33.81 and its 200-day moving average price is $28.49. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of -14.11, a price-to-earnings-growth ratio of 1.42 and a beta of 2.02.

Insider Transactions at Ultra Clean

In other Ultra Clean news, Director David T. Ibnale sold 23,500 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $26.63, for a total transaction of $625,805.00. Following the transaction, the director owned 45,241 shares of the company’s stock, valued at $1,204,767.83. This trade represents a 34.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Ultra Clean

Several large investors have recently added to or reduced their stakes in UCTT. EverSource Wealth Advisors LLC boosted its holdings in Ultra Clean by 148.9% in the third quarter. EverSource Wealth Advisors LLC now owns 926 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 554 shares during the period. Danske Bank A S lifted its position 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 worth $28,000 after buying an additional 900 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Ultra Clean by 237.6% in the 2nd quarter. Allworth Financial LP now owns 1,330 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 936 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Ultra Clean by 472.9% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,713 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 1,414 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new stake in Ultra Clean during the third quarter worth about $45,000. 96.06% of the stock is currently 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.