Ultra Clean (NASDAQ:UCTT) Stock Price Down 3.8% – What’s Next?

Ultra Clean Holdings, Inc. (NASDAQ:UCTT)’s share price was down 3.8% during trading on Thursday . The stock traded as low as $34.90 and last traded at $35.03. Approximately 67,790 shares were traded during trading, a decline of 82% from the average daily volume of 368,201 shares. The stock had previously closed at $36.43.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Oppenheimer started coverage on shares of Ultra Clean in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $70.00 target price on the stock. Needham & Company LLC dropped their price objective on shares of Ultra Clean from $50.00 to $44.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Finally, TD Cowen decreased their target price on shares of Ultra Clean from $60.00 to $57.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $57.75.

Ultra Clean Stock Performance

The company has a current ratio of 2.75, a quick ratio of 1.63 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $1.57 billion, a P/E ratio of 435.18 and a beta of 2.09. The business’s 50 day simple moving average is $36.88 and its two-hundred day simple moving average is $40.43.

Ultra Clean (NASDAQ:UCTT) last announced its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.02. The company had revenue of $540.40 million during the quarter, compared to the consensus estimate of $515.88 million. Ultra Clean had a net margin of 0.18% and a return on equity of 4.08%. The firm’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.03) earnings per share. Sell-side analysts anticipate that Ultra Clean Holdings, Inc. will post 1.09 EPS for the current fiscal year.

Insider Activity

In other news, COO Harjinder Bajwa purchased 2,500 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were purchased at an average cost of $33.33 per share, for a total transaction of $83,325.00. Following the purchase, the chief operating officer now directly owns 29,291 shares in the company, valued at approximately $976,269.03. This represents a 9.33 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jeffrey L. Mckibben sold 3,422 shares of Ultra Clean stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $38.20, for a total value of $130,720.40. Following the completion of the sale, the insider now directly owns 18,805 shares of the company’s stock, valued at $718,351. The trade was a 15.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have acquired a total of 27,500 shares of company stock valued at $943,275 over the last ninety days. 2.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Ultra Clean

Large investors have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. grew its position in shares of Ultra Clean by 130.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 367,212 shares of the semiconductor company’s stock valued at $14,663,000 after acquiring an additional 207,633 shares during the period. Moloney Securities Asset Management LLC bought a new stake in Ultra Clean during the third quarter valued at about $1,048,000. Assenagon Asset Management S.A. increased its position in Ultra Clean by 454.2% in the third quarter. Assenagon Asset Management S.A. now owns 335,096 shares of the semiconductor company’s stock worth $13,380,000 after buying an additional 274,628 shares in the last quarter. Lodestar Private Asset Management LLC bought a new position in shares of Ultra Clean in the third quarter worth about $885,000. Finally, Versor Investments LP purchased a new position in shares of Ultra Clean during the 2nd quarter valued at about $828,000. 96.06% of the stock is currently owned by institutional investors.

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.