Ultra Clean (NASDAQ:UCTT) Shares Gap Up – What’s Next?

Ultra Clean Holdings, Inc. (NASDAQ:UCTT) shares gapped up before the market opened on Tuesday . The stock had previously closed at $50.78, but opened at $54.10. Ultra Clean shares last traded at $57.4560, with a volume of 494,570 shares trading hands.

Analyst Upgrades and Downgrades

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

Ultra Clean Trading Up 14.3%

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 firm has a market capitalization of $2.63 billion, a P/E ratio of -16.25, a price-to-earnings-growth ratio of 1.42 and a beta of 2.02. The firm has a 50 day moving average price of $34.31 and a two-hundred day moving average price of $28.68.

Insider Activity at Ultra Clean

In other news, Director David T. Ibnale sold 23,500 shares of Ultra Clean stock in a transaction 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 in the company, valued at approximately $1,204,767.83. The trade was a 34.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ultra Clean

Several institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada boosted its holdings in shares of Ultra Clean by 35.8% during the first quarter. Royal Bank of Canada now owns 25,926 shares of the semiconductor company’s stock worth $555,000 after purchasing an additional 6,841 shares during the period. AQR Capital Management LLC lifted its position in Ultra Clean by 16.9% in the 1st quarter. AQR Capital Management LLC now owns 198,791 shares of the semiconductor company’s stock worth $4,256,000 after buying an additional 28,690 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Ultra Clean by 5.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,425 shares of the semiconductor company’s stock valued at $566,000 after buying an additional 1,257 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Ultra Clean by 18.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 85,094 shares of the semiconductor company’s stock valued at $1,822,000 after acquiring an additional 13,005 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in shares of Ultra Clean by 1,987.5% in the first quarter. Jane Street Group LLC now owns 148,214 shares of the semiconductor company’s stock worth $3,173,000 after acquiring an additional 141,114 shares during the last quarter. Hedge funds and other institutional investors own 96.06% of the company’s stock.

About Ultra Clean

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.