Ultra Clean (NASDAQ:UCTT) Sets New 1-Year High – Time to Buy?

Shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT) reached a new 52-week high during trading on Thursday . The stock traded as high as $48.54 and last traded at $47.7110, with a volume of 669117 shares traded. The stock had previously closed at $45.33.

Analysts Set New Price Targets

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

Ultra Clean Stock Performance

The firm has a market capitalization of $1.98 billion, a PE ratio of -12.24, a P/E/G ratio of 1.40 and a beta of 1.95. The business has a 50-day simple moving average of $31.75 and a 200-day simple moving average of $27.73. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.21 and a quick ratio of 1.91.

Ultra Clean (NASDAQ:UCTT) last released its earnings results on Tuesday, October 28th. The semiconductor company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.04. Ultra Clean had a positive return on equity of 5.15% and a negative net margin of 7.66%.The firm had revenue of $510.00 million for the quarter, compared to the consensus estimate of $505.23 million. During the same quarter in the previous year, the company posted $0.35 EPS. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. Equities research analysts expect that Ultra Clean Holdings, Inc. will post 1.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Ultra Clean

In related news, Director David T. Ibnale sold 23,500 shares of the firm’s 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 completion of the sale, the director directly owned 45,241 shares of the company’s stock, valued at approximately $1,204,767.83. This trade represents a 34.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Ultra Clean

Institutional investors and hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its position in shares of Ultra Clean by 148.9% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 926 shares of the semiconductor company’s stock worth $25,000 after buying an additional 554 shares in the last quarter. Allworth Financial LP grew its holdings in Ultra Clean by 237.6% during the 2nd quarter. Allworth Financial LP now owns 1,330 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 936 shares in the last quarter. Advisory Services Network LLC purchased a new position in Ultra Clean during the 3rd quarter valued at about $45,000. Smartleaf Asset Management LLC raised its holdings in shares of Ultra Clean by 472.9% in the 2nd 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, Wexford Capital LP purchased a new stake in shares of Ultra Clean in the 3rd quarter worth approximately $64,000. 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.