Ultra Clean (NASDAQ:UCTT) Trading Up 7.4% – Here’s Why

Ultra Clean Holdings, Inc. (NASDAQ:UCTT)’s stock price traded up 7.4% on Friday . The company traded as high as $56.25 and last traded at $56.33. 172,065 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 1,139,302 shares. The stock had previously closed at $52.46.

Wall Street Analysts Forecast Growth

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

Ultra Clean Stock Up 6.5%

The company has a debt-to-equity ratio of 0.60, a current ratio of 3.21 and a quick ratio of 1.91. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of -15.66, a PEG ratio of 1.65 and a beta of 2.02. The firm has a 50-day moving average price of $35.99 and a two-hundred day moving average price of $29.24.

Insider Buying and Selling

In other news, Director David T. Ibnale sold 23,500 shares of the firm’s 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 completion of the transaction, the director owned 45,241 shares in the company, valued at $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 available at the SEC website. 1.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Ultra Clean in the 3rd quarter valued at approximately $416,000. Optimize Financial Inc bought a new stake in Ultra Clean during the third quarter worth $1,541,000. Y Intercept Hong Kong Ltd acquired a new stake in Ultra Clean in the third quarter valued at $962,000. Wedge Capital Management L L P NC bought a new position in shares of Ultra Clean in the 3rd quarter valued at about $3,174,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Ultra Clean during the 2nd quarter worth about $512,000. Institutional investors and hedge funds own 96.06% of the company’s stock.

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.