Ultra Clean (NASDAQ:UCTT) Issues Quarterly Earnings Results, Beats Estimates By $998.77 EPS

Ultra Clean (NASDAQ:UCTT) released its earnings results on Monday. The semiconductor company reported $999.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $998.77, reports. Ultra Clean had a negative net margin of 7.66% and a positive return on equity of 5.15%.

Ultra Clean Trading Up 3.8%

Shares of UCTT traded up $2.26 during trading hours on Monday, hitting $61.41. The stock had a trading volume of 1,588,332 shares, compared to its average volume of 1,182,619. Ultra Clean has a 12-month low of $16.66 and a 12-month high of $61.64. The firm has a market cap of $2.79 billion, a P/E ratio of -17.20, a P/E/G ratio of 1.74 and a beta of 2.02. 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 company’s fifty day simple moving average is $39.50 and its 200 day simple moving average is $30.73.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Invesco Ltd. lifted its position in Ultra Clean by 63.1% during the fourth quarter. Invesco Ltd. now owns 3,399,834 shares of the semiconductor company’s stock valued at $86,118,000 after buying an additional 1,315,407 shares in the last quarter. Summit Global Investments purchased a new position in shares of Ultra Clean in the 4th quarter valued at $210,000. State of Tennessee Department of Treasury lifted its holdings in shares of Ultra Clean by 25.1% during the 4th quarter. State of Tennessee Department of Treasury now owns 23,557 shares of the semiconductor company’s stock valued at $597,000 after acquiring an additional 4,732 shares in the last quarter. XTX Topco Ltd purchased a new stake in Ultra Clean during the 4th quarter worth $504,000. Finally, VARCOV Co. purchased a new stake in Ultra Clean during the 4th quarter worth $361,000. Hedge funds and other institutional investors own 96.06% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.