Ultra Clean Holdings, Inc. (NASDAQ:UCTT) Short Interest Update

Ultra Clean Holdings, Inc. (NASDAQ:UCTT) was the target of a large growth in short interest during the month of July. As of July 15th, there was short interest totaling 1,450,000 shares, agrowthof1,296.9% from the June 30th total of 103,800 shares. Based on an average trading volume of 557,900 shares, the days-to-cover ratio is presently 2.6 days. Based on an average trading volume of 557,900 shares, the days-to-cover ratio is presently 2.6 days.

Insiders Place Their Bets

In other Ultra Clean news, insider Jeffrey L. Mckibben sold 6,294 shares of the company’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $20.87, for a total value of $131,355.78. Following the transaction, the insider directly owned 21,996 shares in the company, valued at $459,056.52. This represents a 22.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Paul Yoonku Cho sold 4,084 shares of the company’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $21.06, for a total value of $86,009.04. Following the completion of the transaction, the general counsel owned 23,345 shares in the company, valued at $491,645.70. This represents a 14.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,878 shares of company stock worth $399,765 in the last ninety days. 1.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ultra Clean

Institutional investors and hedge funds have recently bought and sold shares of the business. Janney Montgomery Scott LLC lifted its holdings in Ultra Clean by 5.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 21,288 shares of the semiconductor company’s stock worth $456,000 after buying an additional 1,068 shares during the period. GAMMA Investing LLC lifted its stake in shares of Ultra Clean by 2,272.9% in the 1st quarter. GAMMA Investing LLC now owns 29,139 shares of the semiconductor company’s stock valued at $624,000 after purchasing an additional 27,911 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Ultra Clean by 444.3% in the 1st quarter. Farther Finance Advisors LLC now owns 12,034 shares of the semiconductor company’s stock valued at $253,000 after purchasing an additional 9,823 shares during the period. Bank of America Corp DE lifted its stake in shares of Ultra Clean by 32.7% in the 4th quarter. Bank of America Corp DE now owns 161,828 shares of the semiconductor company’s stock valued at $5,818,000 after purchasing an additional 39,879 shares during the period. Finally, Envestnet Asset Management Inc. purchased a new position in shares of Ultra Clean in the 4th quarter valued at approximately $1,126,000. Hedge funds and other institutional investors own 96.06% of the company’s stock.

Ultra Clean Trading Down 1.0%

Shares of UCTT stock opened at $22.30 on Monday. The stock has a market capitalization of $1.01 billion, a PE ratio of -6.60, a P/E/G ratio of 0.87 and a beta of 1.99. Ultra Clean has a 1-year low of $16.66 and a 1-year high of $41.90. The business has a 50-day moving average of $22.56 and a 200 day moving average of $24.98. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.06 and a quick ratio of 1.86.

Ultra Clean (NASDAQ:UCTT) last issued its earnings results on Monday, July 28th. The semiconductor company reported $0.27 earnings per share for the quarter, meeting the consensus estimate of $0.27. The company had revenue of $518.80 million during the quarter, compared to analysts’ expectations of $500.83 million. Ultra Clean had a positive return on equity of 5.32% and a negative net margin of 7.15%. Ultra Clean’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.32 EPS. As a group, sell-side analysts anticipate that Ultra Clean will post 1.09 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on UCTT. TD Cowen reduced their price objective on Ultra Clean from $48.00 to $32.00 and set a “buy” rating on the stock in a research report on Tuesday, April 29th. Oppenheimer reduced their price objective on Ultra Clean from $60.00 to $30.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. Wall Street Zen lowered Ultra Clean from a “hold” rating to a “sell” rating in a research report on Wednesday, April 30th. Finally, Needham & Company LLC increased their target price on Ultra Clean from $26.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, July 29th.

About Ultra Clean

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.