Ultra Clean (NASDAQ:UCTT) Sets New 52-Week High – Time to Buy?

Ultra Clean Holdings, Inc. (NASDAQ:UCTT) shares hit a new 52-week high on Monday . The stock traded as high as $49.40 and last traded at $48.8350, with a volume of 60339 shares. The stock had previously closed at $48.29.

Analysts Set New Price Targets

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

Ultra Clean Stock Up 3.8%

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 company has a market capitalization of $2.28 billion, a price-to-earnings ratio of -14.11, a price-to-earnings-growth ratio of 1.42 and a beta of 2.02. The firm’s 50-day simple moving average is $33.81 and its two-hundred day simple moving average is $28.49.

Insiders Place Their Bets

In other Ultra Clean news, Director David T. Ibnale sold 23,500 shares of the company’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $26.63, for a total value of $625,805.00. Following the sale, the director owned 45,241 shares of the company’s stock, valued at approximately $1,204,767.83. This represents a 34.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Ultra Clean

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UCTT. EverSource Wealth Advisors LLC boosted its position in shares of Ultra Clean by 148.9% in the third quarter. EverSource Wealth Advisors LLC now owns 926 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 554 shares during the last quarter. Danske Bank A S grew its position in 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 acquiring an additional 900 shares during the period. Allworth Financial LP increased its stake in Ultra Clean by 237.6% during the second quarter. Allworth Financial LP now owns 1,330 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 936 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Ultra Clean by 472.9% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,713 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 1,414 shares during the period. Finally, Advisory Services Network LLC acquired a new position in shares of Ultra Clean in the 3rd quarter valued at about $45,000. Institutional investors and hedge funds 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.