Ultra Clean (NASDAQ:UCTT) Shares Down 6.4% – Here’s What Happened

by · The Cerbat Gem

Ultra Clean Holdings, Inc. (NASDAQ:UCTT – Get Free Report)’s stock price traded down 6.4% during mid-day trading on Tuesday . The company traded as low as $38.25 and last traded at $38.31. 303,675 shares changed hands during mid-day trading, a decline of 15% from the average session volume of 355,930 shares. The stock had previously closed at $40.93.

Analysts Set New Price Targets

A number of research analysts have weighed in on UCTT shares. Oppenheimer began coverage on shares of Ultra Clean in a research report on Wednesday, September 25th. They set an “outperform” rating and a $70.00 target price for the company. Craig Hallum boosted their price objective on Ultra Clean from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $56.00 target price on shares of Ultra Clean in a report on Friday, July 26th. Finally, TD Cowen upped their price target on Ultra Clean from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $61.50.

View Our Latest Stock Report on Ultra Clean

Ultra Clean Trading Down 8.6 %

The business has a 50-day moving average of $36.87 and a two-hundred day moving average of $42.77. The company has a quick ratio of 1.60, a current ratio of 2.73 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of -45.61 and a beta of 2.08.

Ultra Clean (NASDAQ:UCTT – Get Free Report) last issued its earnings results on Thursday, July 25th. The semiconductor company reported $0.21 EPS for the quarter. The business had revenue of $516.10 million during the quarter, compared to analyst estimates of $490.06 million. Ultra Clean had a positive return on equity of 2.59% and a negative net margin of 0.46%. Ultra Clean’s revenue was up 22.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.16 earnings per share. Research analysts predict that Ultra Clean Holdings, Inc. will post 1.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Creative Planning bought a new stake in shares of Ultra Clean in the 3rd quarter valued at approximately $546,000. CWM LLC boosted its stake in Ultra Clean by 204.3% in the 3rd quarter. CWM LLC now owns 2,434 shares of the semiconductor company’s stock valued at $97,000 after buying an additional 1,634 shares in the last quarter. GAMMA Investing LLC grew its position in Ultra Clean by 92.4% in the third quarter. GAMMA Investing LLC now owns 1,197 shares of the semiconductor company’s stock valued at $48,000 after acquiring an additional 575 shares during the period. Handelsbanken Fonder AB grew its position in Ultra Clean by 19.0% in the third quarter. Handelsbanken Fonder AB now owns 18,200 shares of the semiconductor company’s stock valued at $727,000 after acquiring an additional 2,900 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Ultra Clean during the third quarter worth $879,000. Institutional investors and hedge funds own 96.06% of the company’s stock.

About Ultra Clean

(Get Free Report)

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.

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