Ultra Clean (NASDAQ:UCTT) Hits New 52-Week High After Analyst Upgrade


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Ultra Clean Holdings, Inc. (NASDAQ:UCTT) reached a new 52-week high during mid-day trading on Tuesday after Craig Hallum raised their price target on the stock from $42.00 to $47.00. Craig Hallum currently has a buy rating on the stock. Ultra Clean traded as high as $38.50 and last traded at $38.25, with a volume of 164 shares. The stock had previously closed at $37.60.

Other analysts have also recently issued reports about the company. Stifel Nicolaus raised Ultra Clean from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Sunday, September 20th. ValuEngine lowered shares of Ultra Clean from a “sell” rating to a “strong sell” rating in a report on Wednesday, December 30th. DA Davidson raised their price objective on shares of Ultra Clean from $35.00 to $42.00 in a report on Friday, December 18th. Finally, BidaskClub lowered shares of Ultra Clean from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $34.00.

In other news, Director Clarence L. Granger sold 15,000 shares of Ultra Clean stock in a transaction that occurred on Tuesday, December 1st. The shares were sold at an average price of $32.00, for a total transaction of $480,000.00. Following the completion of the transaction, the director now directly owns 141,368 shares in the company, valued at $4,523,776. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Clarence L. Granger sold 4,065 shares of Ultra Clean stock in a transaction that occurred on Friday, January 8th. The shares were sold at an average price of $38.00, for a total transaction of $154,470.00. Following the transaction, the director now owns 106,438 shares of the company’s stock, valued at $4,044,644. The disclosure for this sale can be found here. Insiders have sold 35,526 shares of company stock valued at $1,180,492 over the last quarter. Company insiders own 2.20% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Sei Investments Co. lifted its holdings in shares of Ultra Clean by 13.1% during the third quarter. Sei Investments Co. now owns 92,842 shares of the semiconductor company’s stock valued at $1,995,000 after purchasing an additional 10,777 shares during the last quarter. California State Teachers Retirement System lifted its holdings in shares of Ultra Clean by 1.6% during the third quarter. California State Teachers Retirement System now owns 60,708 shares of the semiconductor company’s stock valued at $1,303,000 after purchasing an additional 975 shares during the last quarter. Cubist Systematic Strategies LLC lifted its holdings in shares of Ultra Clean by 11.5% during the third quarter. Cubist Systematic Strategies LLC now owns 72,426 shares of the semiconductor company’s stock valued at $1,554,000 after purchasing an additional 7,488 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Ultra Clean in the 3rd quarter worth approximately $3,518,000. Finally, State of Tennessee Treasury Department raised its holdings in Ultra Clean by 127.4% in the 3rd quarter. State of Tennessee Treasury Department now owns 29,308 shares of the semiconductor company’s stock worth $629,000 after acquiring an additional 16,417 shares during the last quarter. Hedge funds and other institutional investors own 84.11% of the company’s stock.

The company has a market capitalization of $1.53 billion, a PE ratio of 75.66, a price-to-earnings-growth ratio of 1.41 and a beta of 1.57. The business’s fifty day moving average is $33.43 and its two-hundred day moving average is $26.53. The company has a current ratio of 2.49, a quick ratio of 1.64 and a debt-to-equity ratio of 0.66.

Ultra Clean (NASDAQ:UCTT) last announced its quarterly earnings data on Wednesday, October 28th. The semiconductor company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.15. Ultra Clean had a net margin of 1.74% and a return on equity of 14.79%. The company had revenue of $363.28 million during the quarter, compared to analyst estimates of $340.30 million. As a group, equities research analysts anticipate that Ultra Clean Holdings, Inc. will post 2.14 EPS for the current year.

Ultra Clean Company Profile (NASDAQ:UCTT)

Ultra Clean Holdings, Inc designs, develops, prototypes, engineers, manufactures, and tests production tools, modules, and subsystems for the semiconductor and display capital equipment industries in the United States and internationally. The company provides subsystems, such as wafer cleaning modules; chemical delivery modules that deliver gases and reactive chemicals in a liquid or gaseous form from a centralized subsystem to the reaction chamber; frame assemblies, a support structures fabricated from steel tubing or folded sheet metal; process modules, a subsystems of semiconductor manufacturing tools that process integrated circuits onto wafers; and top-plate assemblies.

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