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

Ultra Clean Holdings, Inc. (NASDAQ:UCTT)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $35.05, but opened at $36.38. Ultra Clean shares last traded at $33.94, with a volume of 177,399 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts recently commented on UCTT shares. Craig Hallum increased their price target on Ultra Clean from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, July 26th. TD Cowen increased their price objective on Ultra Clean from $55.00 to $60.00 and gave the company a “buy” rating in a report on Friday, July 26th. Oppenheimer began coverage on shares of Ultra Clean in a report on Wednesday, September 25th. They set an “outperform” rating and a $70.00 target price on the stock. Finally, Needham & Company LLC decreased their price objective on shares of Ultra Clean from $50.00 to $44.00 and set a “buy” rating for the company in a research report on Tuesday. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Ultra Clean currently has a consensus rating of “Buy” and a consensus price target of $58.50.

Ultra Clean Trading Down 5.8 %

The company has a current ratio of 2.73, a quick ratio of 1.60 and a debt-to-equity ratio of 0.52. The business has a 50 day moving average of $36.67 and a two-hundred day moving average of $42.09. The firm has a market cap of $1.48 billion, a P/E ratio of -40.39 and a beta of 2.08.

Institutional Trading of Ultra Clean

A number of hedge funds have recently modified their holdings of the stock. Pinnacle Associates Ltd. raised its holdings in Ultra Clean by 2.1% in the 3rd quarter. Pinnacle Associates Ltd. now owns 420,709 shares of the semiconductor company’s stock valued at $16,799,000 after acquiring an additional 8,471 shares during the period. Lodestar Private Asset Management LLC bought a new position in shares of Ultra Clean during the third quarter worth approximately $885,000. Assenagon Asset Management S.A. lifted its holdings in Ultra Clean by 454.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 335,096 shares of the semiconductor company’s stock worth $13,380,000 after purchasing an additional 274,628 shares during the last quarter. Signaturefd LLC lifted its holdings in Ultra Clean by 465.5% during the 3rd quarter. Signaturefd LLC now owns 803 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 661 shares during the last quarter. Finally, Palouse Capital Management Inc. boosted its stake in Ultra Clean by 70.8% in the 3rd quarter. Palouse Capital Management Inc. now owns 5,692 shares of the semiconductor company’s stock valued at $227,000 after purchasing an additional 2,359 shares during the period. Institutional investors and hedge funds 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.