Ultra Clean (NASDAQ:UCTT) Shares Down 6.4% – Here’s Why

Ultra Clean Holdings, Inc. (NASDAQ:UCTT)’s share price fell 6.4% during trading on Tuesday . The company traded as low as $38.25 and last traded at $38.31. 303,675 shares traded hands during mid-day trading, a decline of 15% from the average session volume of 355,930 shares. The stock had previously closed at $40.93.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on UCTT. Craig Hallum increased their target price on Ultra Clean from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, July 26th. TD Cowen increased their price objective on shares of Ultra Clean from $55.00 to $60.00 and gave the company a “buy” rating in a report on Friday, July 26th. Needham & Company LLC reiterated a “buy” rating and issued a $56.00 target price on shares of Ultra Clean in a research report on Friday, July 26th. Finally, Oppenheimer began coverage on shares of Ultra Clean in a research report on Wednesday, September 25th. They set an “outperform” rating and a $70.00 price target for the company. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $61.50.

Ultra Clean Trading Up 0.9 %

The company has a 50 day moving average of $36.95 and a 200 day moving average of $42.67. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.60 and a current ratio of 2.73. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of -45.68 and a beta of 2.08.

Ultra Clean (NASDAQ:UCTT) last issued its earnings results on Thursday, July 25th. The semiconductor company reported $0.21 EPS for the quarter. The business had revenue of $516.10 million during the quarter, compared to analysts’ expectations of $490.06 million. Ultra Clean had a negative net margin of 0.46% and a positive return on equity of 2.59%. The company’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.16 earnings per share. On average, research analysts predict that Ultra Clean Holdings, Inc. will post 1.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC increased its holdings in shares of Ultra Clean by 52.1% in the second quarter. GAMMA Investing LLC now owns 622 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 213 shares during the last quarter. CWM LLC increased its stake in shares of Ultra Clean by 46.3% in the 2nd quarter. CWM LLC now owns 800 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 253 shares during the last quarter. Truist Financial Corp raised its holdings in shares of Ultra Clean by 4.6% during the 2nd quarter. Truist Financial Corp now owns 7,080 shares of the semiconductor company’s stock worth $347,000 after acquiring an additional 310 shares during the period. SummerHaven Investment Management LLC boosted its position in shares of Ultra Clean by 1.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 19,993 shares of the semiconductor company’s stock valued at $980,000 after acquiring an additional 331 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its position in shares of Ultra Clean by 1.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 22,600 shares of the semiconductor company’s stock valued at $1,107,000 after acquiring an additional 400 shares during the last quarter. 96.06% of the stock is currently owned by institutional investors and hedge funds.

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.