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

Ultra Clean Holdings, Inc. (NASDAQ:UCTT)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $86.97, but opened at $80.69. Ultra Clean shares last traded at $75.2660, with a volume of 173,936 shares trading hands.

Wall Street Analyst Weigh In

UCTT has been the subject of several recent analyst reports. Needham & Company LLC raised their target price on Ultra Clean from $70.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. UBS Group initiated coverage on Ultra Clean in a report on Tuesday, May 5th. They set a “buy” rating and a $130.00 price target on the stock. Oppenheimer raised their price objective on shares of Ultra Clean from $100.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 9th. Zacks Research upgraded shares of Ultra Clean from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 25th. Finally, TD Cowen lifted their price objective on shares of Ultra Clean from $100.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Ultra Clean currently has an average rating of “Buy” and an average price target of $113.40.

Ultra Clean Stock Down 10.2%

The company has a current ratio of 3.07, a quick ratio of 1.72 and a debt-to-equity ratio of 0.86. The stock’s 50-day moving average price is $100.48 and its 200-day moving average price is $75.46. The company has a market cap of $3.12 billion, a P/E ratio of -16.22, a PEG ratio of 1.03 and a beta of 1.83.

Ultra Clean (NASDAQ:UCTT) last issued its earnings results on Tuesday, April 28th. The semiconductor company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. The business had revenue of $533.70 million during the quarter, compared to analyst estimates of $525.28 million. Ultra Clean had a positive return on equity of 4.28% and a negative net margin of 9.38%.The firm’s revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.28 EPS. As a group, research analysts forecast that Ultra Clean Holdings, Inc. will post 2.14 EPS for the current year.

Insider Transactions at Ultra Clean

In other news, General Counsel Paul Yoonku Cho sold 944 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $89.37, for a total transaction of $84,365.28. Following the completion of the sale, the general counsel owned 22,941 shares in the company, valued at $2,050,237.17. The trade was a 3.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Sheri Savage sold 15,766 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $89.47, for a total value of $1,410,584.02. Following the transaction, the chief financial officer directly owned 50,710 shares in the company, valued at $4,537,023.70. The trade was a 23.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 68,203 shares of company stock valued at $5,838,174. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of UCTT. Quadrant Capital Group LLC grew its holdings in shares of Ultra Clean by 40.3% during the fourth quarter. Quadrant Capital Group LLC now owns 989 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 284 shares during the last quarter. Danske Bank A S raised its holdings in shares of Ultra Clean by 450.0% in the 4th quarter. Danske Bank A S now owns 1,100 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 900 shares during the last quarter. AdvisorNet Financial Inc acquired a new stake in shares of Ultra Clean in the 1st quarter worth about $34,000. Smartleaf Asset Management LLC lifted its position in Ultra Clean by 472.9% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,713 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 1,414 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Ultra Clean by 37.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 721 shares of the semiconductor company’s stock valued at $45,000 after acquiring an additional 196 shares in the last quarter. Institutional investors and hedge funds 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.