Ultra Clean (NASDAQ:UCTT) Sets New 1-Year High – What’s Next?

Ultra Clean Holdings, Inc. (NASDAQ:UCTT)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $59.57 and last traded at $60.3390, with a volume of 143293 shares changing hands. The stock had previously closed at $57.48.

Analyst Ratings Changes

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

Ultra Clean Stock Performance

The stock has a fifty day moving average of $39.50 and a 200-day moving average of $30.67. 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 stock has a market cap of $2.68 billion, a PE ratio of -16.57, a price-to-earnings-growth ratio of 1.74 and a beta of 2.02.

Insider Activity at Ultra Clean

In related news, Director David T. Ibnale sold 23,500 shares of the 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 completion of the sale, the director directly owned 45,241 shares of the company’s stock, valued at $1,204,767.83. This trade represents a 34.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ultra Clean

A number of large investors have recently bought and sold shares of UCTT. Invesco Ltd. boosted its holdings in shares of Ultra Clean by 63.1% in the fourth quarter. Invesco Ltd. now owns 3,399,834 shares of the semiconductor company’s stock valued at $86,118,000 after acquiring an additional 1,315,407 shares in the last quarter. Summit Global Investments purchased a new stake in Ultra Clean in the 4th quarter valued at approximately $210,000. State of Tennessee Department of Treasury increased its position in Ultra Clean by 25.1% during the 4th quarter. State of Tennessee Department of Treasury now owns 23,557 shares of the semiconductor company’s stock worth $597,000 after purchasing an additional 4,732 shares during the period. XTX Topco Ltd purchased a new position in shares of Ultra Clean during the 4th quarter worth approximately $504,000. Finally, VARCOV Co. purchased a new position in shares of Ultra Clean during the 4th quarter worth approximately $361,000. Hedge funds and other institutional investors own 96.06% of the company’s stock.

Ultra Clean Company Profile

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.