Ultra Clean (NASDAQ:UCTT) Receives New Coverage from Analysts at Oppenheimer

Oppenheimer initiated coverage on shares of Ultra Clean (NASDAQ:UCTT) in a research report released on Wednesday morning, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $70.00 price objective on the semiconductor company’s stock.

UCTT has been the topic of several other research reports. Needham & Company LLC reissued a buy rating and set a $56.00 target price on shares of Ultra Clean in a research note on Friday, July 26th. TD Cowen raised their target price on shares of Ultra Clean from $55.00 to $60.00 and gave the company a buy rating in a research note on Friday, July 26th. Finally, Craig Hallum raised their target price on shares of Ultra Clean from $52.00 to $60.00 and gave the company a buy rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $61.50.

Ultra Clean Stock Down 1.8 %

UCTT stock opened at $40.16 on Wednesday. The company has a quick ratio of 1.60, a current ratio of 2.73 and a debt-to-equity ratio of 0.52. Ultra Clean has a fifty-two week low of $22.15 and a fifty-two week high of $56.47. The firm’s 50-day simple moving average is $37.79 and its 200 day simple moving average is $43.16. The stock has a market cap of $1.81 billion, a PE ratio of -48.98 and a beta of 2.09.

Ultra Clean (NASDAQ:UCTT) last released its quarterly earnings data on Thursday, July 25th. The semiconductor company reported $0.21 earnings per share for the quarter. Ultra Clean had a negative net margin of 0.46% and a positive return on equity of 2.59%. The business had revenue of $516.10 million for the quarter, compared to analysts’ expectations of $490.06 million. During the same quarter last year, the company earned $0.16 EPS. The company’s revenue for the quarter was up 22.4% compared to the same quarter last year.

Insider Activity

In other news, CFO Sheri Savage sold 10,079 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $54.18, for a total transaction of $546,080.22. Following the completion of the transaction, the chief financial officer now owns 52,575 shares in the company, valued at approximately $2,848,513.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO James P. Scholhamer sold 26,608 shares of Ultra Clean stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $55.10, for a total value of $1,466,100.80. Following the transaction, the chief executive officer now directly owns 418,453 shares of the company’s stock, valued at $23,056,760.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Sheri Savage sold 10,079 shares of Ultra Clean stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $54.18, for a total transaction of $546,080.22. Following the completion of the transaction, the chief financial officer now directly owns 52,575 shares in the company, valued at $2,848,513.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,266 shares of company stock worth $2,556,853. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in UCTT. GAMMA Investing LLC increased its position in shares of Ultra Clean by 52.1% in the second quarter. GAMMA Investing LLC now owns 622 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 213 shares in the last quarter. CWM LLC increased its position in shares of Ultra Clean by 46.3% in the second quarter. CWM LLC now owns 800 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 253 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of Ultra Clean in the second quarter worth approximately $41,000. nVerses Capital LLC purchased a new position in Ultra Clean during the second quarter valued at approximately $64,000. Finally, TFO Wealth Partners LLC grew its position in Ultra Clean by 27,160.0% during the fourth quarter. TFO Wealth Partners LLC now owns 2,726 shares of the semiconductor company’s stock valued at $93,000 after purchasing an additional 2,716 shares in the last quarter. 96.06% of the stock is owned by hedge funds and other 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.