Ultra Clean (NASDAQ:UCTT) Trading 3.7% Higher – Time to Buy?

Ultra Clean Holdings, Inc. (NASDAQ:UCTT)’s stock price rose 3.7% during trading on Thursday . The company traded as high as $38.15 and last traded at $37.99. Approximately 15,047 shares changed hands during trading, a decline of 95% from the average daily volume of 274,817 shares. The stock had previously closed at $36.63.

Analysts Set New Price Targets

A number of research firms have recently weighed in on UCTT. TD Cowen lowered their price objective on Ultra Clean from $60.00 to $57.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Needham & Company LLC dropped their price target on Ultra Clean from $50.00 to $44.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Finally, Oppenheimer began coverage on shares of Ultra Clean in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $70.00 price objective for the company.

Ultra Clean Stock Up 1.6 %

The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.63 and a current ratio of 2.75. The business has a 50 day simple moving average of $37.09 and a 200-day simple moving average of $38.85. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 483.06 and a beta of 2.10.

Ultra Clean (NASDAQ:UCTT) last posted its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. Ultra Clean had a return on equity of 4.08% and a net margin of 0.18%. The firm had revenue of $540.40 million for the quarter, compared to the consensus estimate of $515.88 million. During the same quarter in the previous year, the business earned ($0.03) EPS. The company’s quarterly revenue was up 24.2% compared to the same quarter last year. On average, equities analysts expect that Ultra Clean Holdings, Inc. will post 1.09 EPS for the current year.

Insider Transactions at Ultra Clean

In related news, insider Jeffrey L. Mckibben sold 3,422 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $38.20, for a total value of $130,720.40. Following the completion of the sale, the insider now directly owns 18,805 shares of the company’s stock, valued at $718,351. This represents a 15.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Harjinder Bajwa purchased 15,000 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were purchased at an average cost of $34.83 per share, for a total transaction of $522,450.00. Following the transaction, the chief operating officer now owns 44,291 shares of the company’s stock, valued at $1,542,655.53. This trade represents a 51.21 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 27,500 shares of company stock valued at $943,275. 2.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. increased its holdings in shares of Ultra Clean by 454.2% in the third quarter. Assenagon Asset Management S.A. now owns 335,096 shares of the semiconductor company’s stock valued at $13,380,000 after purchasing an additional 274,628 shares during the period. Harbor Capital Advisors Inc. raised its holdings in Ultra Clean by 130.1% during the third quarter. Harbor Capital Advisors Inc. now owns 367,212 shares of the semiconductor company’s stock worth $14,663,000 after purchasing an additional 207,633 shares in the last quarter. Hood River Capital Management LLC lifted its position in Ultra Clean by 54.2% in the second quarter. Hood River Capital Management LLC now owns 366,266 shares of the semiconductor company’s stock valued at $17,947,000 after purchasing an additional 128,670 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Ultra Clean by 27.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 506,107 shares of the semiconductor company’s stock worth $20,209,000 after buying an additional 110,403 shares in the last quarter. Finally, Algert Global LLC grew its position in Ultra Clean by 424.0% during the third quarter. Algert Global LLC now owns 85,064 shares of the semiconductor company’s stock worth $3,397,000 after buying an additional 68,830 shares during the period. 96.06% of the stock is currently owned by institutional investors and hedge funds.

About Ultra Clean

Ultra Clean Holdings, Inc develops and supplies critical subsystems, components and parts, and ultra-high purity cleaning and analytical services for the semiconductor industry in the United States and internationally. The company provides ultra-clean valves, high purity connectors, industrial process connectors and valves, pneumatic actuators, manifolds and safety solutions, hoses, pressure gauges, and gas line and component heaters; chemical delivery modules that deliver gases and reactive chemicals in a liquid or gaseous form from a centralized subsystem to the reaction chamber; and gas delivery systems, such as weldments, filters, mass flow controllers, regulators, pressure transducers and valves, component heaters, and an integrated electronic and/or pneumatic control system.