Ultra Clean (NASDAQ:UCTT) Shares Down 6.4% – What’s Next?

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

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. TD Cowen raised their price objective on shares of Ultra Clean from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Needham & Company LLC reiterated a “buy” rating and issued a $56.00 price objective on shares of Ultra Clean in a research report on Friday, July 26th. Craig Hallum boosted their price objective on Ultra Clean from $52.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Oppenheimer assumed coverage on Ultra Clean in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $70.00 target price for the company. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Ultra Clean has an average rating of “Buy” and an average target price of $61.50.

Ultra Clean Price Performance

The stock has a 50-day simple moving average of $36.87 and a 200 day simple moving average of $42.77. The stock has a market capitalization of $1.67 billion, a P/E ratio of -45.61 and a beta of 2.08. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.60 and a current ratio of 2.73.

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

Hedge Funds Weigh In On Ultra Clean

A number of hedge funds and other institutional investors have recently bought and sold shares of UCTT. GAMMA Investing LLC lifted its stake in shares of Ultra Clean by 52.1% in the 2nd 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 period. CWM LLC grew its holdings in Ultra Clean by 46.3% during the second quarter. CWM LLC now owns 800 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 253 shares during the period. Innealta Capital LLC bought a new stake in Ultra Clean in the second quarter valued at approximately $41,000. nVerses Capital LLC acquired a new stake in Ultra Clean in the second quarter worth $64,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Ultra Clean during the first quarter worth $96,000. 96.06% of the stock is owned by institutional investors.

Ultra Clean Company Profile

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.