Ultra Clean (NASDAQ:UCTT) Coverage Initiated at Oppenheimer

Analysts at Oppenheimer started coverage on shares of Ultra Clean (NASDAQ:UCTT) in a research report issued on Wednesday, Marketbeat Ratings reports. The firm set an “outperform” rating and a $70.00 price target on the semiconductor company’s stock. Oppenheimer’s price objective suggests a potential upside of 71.23% from the stock’s previous close.

A number of other research analysts have also recently commented on the company. TD Cowen raised their target price on Ultra Clean from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Needham & Company LLC reissued a “buy” rating and set a $56.00 price objective on shares of Ultra Clean in a research report on Friday, July 26th. Finally, Craig Hallum upped their target price on shares of Ultra Clean from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $61.50.

Ultra Clean Trading Up 7.1 %

UCTT opened at $40.88 on Wednesday. Ultra Clean has a one year low of $22.15 and a one year high of $56.47. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.73 and a quick ratio of 1.60. The business has a 50 day simple moving average of $37.92 and a two-hundred day simple moving average of $43.22. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of -49.85 and a beta of 2.09.

Ultra Clean (NASDAQ:UCTT) last announced its earnings results on Thursday, July 25th. The semiconductor company reported $0.21 EPS for the quarter. The company had revenue of $516.10 million during the quarter, compared to the consensus estimate of $490.06 million. Ultra Clean had a positive return on equity of 2.59% and a negative net margin of 0.46%. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 earnings per share.

Insider Activity

In related news, CFO Sheri Savage sold 9,682 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $51.08, for a total value of $494,556.56. Following the transaction, the chief financial officer now owns 62,654 shares in the company, valued at approximately $3,200,366.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Sheri Savage sold 9,682 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $51.08, for a total value of $494,556.56. Following the transaction, the chief financial officer now directly owns 62,654 shares of the company’s stock, valued at approximately $3,200,366.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James P. Scholhamer sold 26,608 shares of Ultra Clean stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $55.10, for a total value of $1,466,100.80. Following the completion of the sale, the chief executive officer now directly owns 418,453 shares of the company’s stock, valued at approximately $23,056,760.30. The disclosure for this sale can be found here. Insiders sold 47,266 shares of company stock worth $2,556,853 over the last three months. 2.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ultra Clean

Several hedge funds and other institutional investors have recently bought and sold shares of UCTT. Truist Financial Corp raised its holdings in shares of Ultra Clean by 4.6% during the second quarter. Truist Financial Corp now owns 7,080 shares of the semiconductor company’s stock valued at $347,000 after purchasing an additional 310 shares during the last quarter. Algert Global LLC bought a new stake in Ultra Clean in the 2nd quarter worth approximately $795,000. The Manufacturers Life Insurance Company raised its stake in Ultra Clean by 3.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,499 shares of the semiconductor company’s stock valued at $1,200,000 after buying an additional 929 shares during the last quarter. Deerfield Management Company L.P. Series C bought a new position in shares of Ultra Clean during the 2nd quarter valued at $414,000. Finally, AQR Capital Management LLC boosted its stake in shares of Ultra Clean by 51.2% in the 2nd quarter. AQR Capital Management LLC now owns 28,858 shares of the semiconductor company’s stock worth $1,414,000 after buying an additional 9,778 shares during the last quarter. Institutional investors own 96.06% of the company’s stock.

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.