Ultra Clean (NASDAQ:UCTT) Issues Earnings Results

Ultra Clean (NASDAQ:UCTT) announced its quarterly earnings results on Monday. The semiconductor company reported $999.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $998.77, Zacks reports. Ultra Clean had a negative net margin of 7.66% and a positive return on equity of 5.15%.

Ultra Clean Stock Performance

NASDAQ:UCTT traded up $2.26 during midday trading on Monday, reaching $61.41. The stock had a trading volume of 1,581,364 shares, compared to its average volume of 1,182,619. Ultra Clean has a 12-month low of $16.66 and a 12-month high of $61.64. The company has a quick ratio of 1.91, a current ratio of 3.21 and a debt-to-equity ratio of 0.60. The firm has a fifty day simple moving average of $39.50 and a two-hundred day simple moving average of $30.73. The stock has a market cap of $2.79 billion, a P/E ratio of -17.20, a P/E/G ratio of 1.74 and a beta of 2.02.

Analysts Set New Price Targets

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

Insider Transactions at Ultra Clean

In other Ultra Clean news, Director David T. Ibnale sold 23,500 shares of the business’s 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 sale, the director directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Ultra Clean

A number of large investors have recently bought and sold shares of the stock. Quadrant Capital Group LLC increased its position in Ultra Clean by 40.3% during the 4th quarter. Quadrant Capital Group LLC now owns 989 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 284 shares in the last quarter. Advisory Services Network LLC bought a new stake in Ultra Clean in the third quarter valued at about $45,000. Smartleaf Asset Management LLC boosted its holdings in Ultra Clean by 472.9% in the second quarter. Smartleaf Asset Management LLC now owns 1,713 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 1,414 shares during the period. State of Wyoming raised its stake in Ultra Clean by 45.7% during the fourth quarter. State of Wyoming now owns 1,825 shares of the semiconductor company’s stock worth $46,000 after acquiring an additional 572 shares during the period. Finally, Wexford Capital LP acquired a new stake in Ultra Clean in the third quarter worth $64,000. 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.