Ultra Clean (NASDAQ:UCTT) Stock Price Up 7.4% – Here’s Why

Ultra Clean Holdings, Inc. (NASDAQ:UCTT)’s stock price shot up 7.4% during trading on Friday . The stock traded as high as $56.25 and last traded at $56.33. 172,065 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 1,139,302 shares. The stock had previously closed at $52.46.

Analyst Ratings Changes

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

Ultra Clean Stock Performance

The company has a 50 day simple moving average of $36.57 and a 200-day simple moving average of $29.49. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.21 and a quick ratio of 1.91. The stock has a market cap of $2.52 billion, a P/E ratio of -15.52, a price-to-earnings-growth ratio of 1.63 and a beta of 2.02.

Insider Buying and Selling 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 shares were sold at an average price of $26.63, for a total transaction of $625,805.00. Following the transaction, the director owned 45,241 shares of the company’s stock, valued at approximately $1,204,767.83. This trade represents a 34.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its holdings in Ultra Clean by 148.9% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 926 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 554 shares during the period. Quadrant Capital Group LLC lifted its position in Ultra Clean by 40.3% in the fourth quarter. Quadrant Capital Group LLC now owns 989 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 284 shares during the last quarter. Danske Bank A S boosted its stake in shares of Ultra Clean by 450.0% during the fourth quarter. Danske Bank A S now owns 1,100 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 900 shares during the period. Allworth Financial LP grew its holdings in shares of Ultra Clean by 237.6% in the second quarter. Allworth Financial LP now owns 1,330 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 936 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in shares of 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 buying an additional 1,414 shares during the period. 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.