Ultra Clean (NASDAQ:UCTT) Stock Price Up 7.4% – Should You Buy?

Ultra Clean Holdings, Inc. (NASDAQ:UCTT) traded up 7.4% during mid-day trading on Friday . The company traded as high as $56.25 and last traded at $56.33. 172,065 shares were traded 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

UCTT has been the topic of a number of recent analyst reports. 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. Needham & Company LLC upped their price target on shares of Ultra Clean from $35.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Weiss Ratings reissued a “sell (d)” rating on shares of Ultra Clean in a research report on Monday, December 29th. Finally, Oppenheimer reissued an “outperform” rating on shares of Ultra Clean in a research report on Wednesday, October 29th. Three 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, Ultra Clean presently has an average rating of “Moderate Buy” and a consensus price target of $38.33.

Ultra Clean Stock Up 6.5%

The firm has a 50 day moving average of $35.99 and a 200-day moving average of $29.24. 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 stock has a market capitalization of $2.54 billion, a P/E ratio of -15.66, a price-to-earnings-growth ratio of 1.65 and a beta of 2.02.

Insider Transactions at Ultra Clean

In other news, Director David T. Ibnale sold 23,500 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $26.63, for a total value of $625,805.00. Following the sale, the director owned 45,241 shares of the company’s stock, valued at approximately $1,204,767.83. This represents a 34.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in UCTT. Wealth Enhancement Advisory Services LLC bought a new position in Ultra Clean in the third quarter valued at about $416,000. Optimize Financial Inc bought a new position in shares of Ultra Clean in the 3rd quarter worth $1,541,000. Y Intercept Hong Kong Ltd bought a new stake in Ultra Clean in the third quarter valued at about $962,000. Wedge Capital Management L L P NC acquired a new position in Ultra Clean in the third quarter valued at about $3,174,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Ultra Clean during the second quarter worth about $512,000. Institutional investors and hedge funds 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.