Ultra Clean (NASDAQ:UCTT) Sees Unusually-High Trading Volume

Shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT) saw unusually-high trading volume on Thursday . Approximately 277,562 shares changed hands during trading, a decline of 21% from the previous session’s volume of 351,595 shares.The stock last traded at $41.01 and had previously closed at $38.18.

Analyst Upgrades and Downgrades

Several analysts have recently commented on UCTT shares. Craig Hallum increased their price target on shares of Ultra Clean from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Needham & Company LLC reissued a “buy” rating and set a $56.00 price target on shares of Ultra Clean in a research note on Friday, July 26th. TD Cowen increased their price target on shares of Ultra Clean from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Oppenheimer started coverage on shares of Ultra Clean in a research note on Wednesday. They set an “outperform” rating and a $70.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Ultra Clean presently has an average rating of “Moderate Buy” and an average price target of $61.50.

Ultra Clean Price Performance

The company’s fifty day moving average is $38.07 and its two-hundred day moving average is $43.23. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of -50.98 and a beta of 2.09. The company has a quick ratio of 1.60, a current ratio of 2.73 and a debt-to-equity ratio of 0.52.

Ultra Clean (NASDAQ:UCTT) last announced its quarterly earnings data on Thursday, July 25th. The semiconductor company reported $0.21 earnings per share for the quarter. Ultra Clean had a negative net margin of 0.46% and a positive return on equity of 2.59%. The business had revenue of $516.10 million for the quarter, compared to analyst estimates of $490.06 million. During the same period in the prior year, the business posted $0.16 earnings per share. Ultra Clean’s revenue was up 22.4% compared to the same quarter last year.

Insider Activity at Ultra Clean

In other Ultra Clean news, CEO James P. Scholhamer sold 26,608 shares of the stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $55.10, for a total value of $1,466,100.80. Following the sale, the chief executive officer now directly owns 418,453 shares in the company, valued at $23,056,760.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Ultra Clean news, CFO Sheri Savage sold 10,079 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of $54.18, for a total value of $546,080.22. Following the sale, the chief financial officer now directly owns 52,575 shares in the company, valued at $2,848,513.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO James P. Scholhamer sold 26,608 shares of the stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $55.10, for a total transaction of $1,466,100.80. Following the completion of the sale, the chief executive officer now owns 418,453 shares in the company, valued at $23,056,760.30. The disclosure for this sale can be found here. Insiders have sold 47,266 shares of company stock worth $2,556,853 over the last ninety days. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Ultra Clean

Several hedge funds have recently bought and sold shares of the company. Frontier Capital Management Co. LLC raised its holdings in shares of Ultra Clean by 37.5% during the fourth quarter. Frontier Capital Management Co. LLC now owns 2,559,943 shares of the semiconductor company’s stock worth $87,396,000 after acquiring an additional 698,242 shares during the period. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Ultra Clean by 6.4% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 860,798 shares of the semiconductor company’s stock worth $42,179,000 after acquiring an additional 52,075 shares during the period. Comerica Bank raised its holdings in shares of Ultra Clean by 512.5% during the first quarter. Comerica Bank now owns 134,289 shares of the semiconductor company’s stock worth $6,169,000 after acquiring an additional 112,366 shares during the period. Versor Investments LP acquired a new stake in shares of Ultra Clean during the second quarter worth $828,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of Ultra Clean by 32.2% during the first quarter. BNP Paribas Financial Markets now owns 29,679 shares of the semiconductor company’s stock worth $1,363,000 after acquiring an additional 7,233 shares during the period. 96.06% of the stock is currently owned by institutional investors and hedge funds.

Ultra Clean Company Profile

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.