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

Shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT) gapped down prior to trading on Friday. The stock had previously closed at $54.70, but opened at $49.50. Ultra Clean shares last traded at $50.9710, with a volume of 252,947 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on UCTT. UBS Group reissued a “buy” rating on shares of Ultra Clean in a report on Wednesday. Zacks Research downgraded Ultra Clean from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 2nd. Needham & Company LLC reduced their price objective on Ultra Clean from $125.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday. TD Cowen decreased their target price on Ultra Clean from $140.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Freedom Broker started coverage on Ultra Clean in a research report on Friday, October 9th. They issued a “buy” rating and a $127.00 target price on the stock. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.00.

Ultra Clean Trading Down 9.3%

The company has a current ratio of 2.79, a quick ratio of 1.25 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of 86.97, a P/E/G ratio of 0.60 and a beta of 1.86. The firm’s 50-day moving average is $67.07 and its 200 day moving average is $74.16.

Ultra Clean (NASDAQ:UCTT) last announced its quarterly earnings results on Tuesday, October 27th. The semiconductor company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.21. The firm had revenue of $759.00 million during the quarter, compared to analysts’ expectations of $727.55 million. Ultra Clean had a net margin of 1.09% and a return on equity of 12.00%. The company’s revenue was up 48.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.28 EPS. On average, equities analysts predict that Ultra Clean Holdings, Inc. will post 2.67 earnings per share for the current fiscal year.

Institutional Trading of Ultra Clean

A number of institutional investors and hedge funds have recently bought and sold shares of UCTT. BlackRock Inc. acquired a new stake in shares of Ultra Clean in the 2nd quarter valued at about $986,722,000. Paradigm Capital Management Inc. NY bought a new stake in Ultra Clean in the 2nd quarter valued at about $86,723,000. Cooper Creek Partners Management LLC bought a new stake in Ultra Clean in the 1st quarter valued at about $36,486,000. Bank of America Corp DE raised its stake in Ultra Clean by 502.4% during the 1st quarter. Bank of America Corp DE now owns 454,020 shares of the semiconductor company’s stock worth $28,231,000 after buying an additional 378,648 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in Ultra Clean by 96.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 278,166 shares of the semiconductor company’s stock worth $39,664,000 after buying an additional 136,732 shares during the period. 96.06% of the stock is currently owned by institutional investors and hedge funds.

Ultra Clean Company Profile

Ultra Clean Holdings, Inc (NASDAQ: UCTT) provides critical subsystems, components and services used in the production of semiconductor and other high-technology products. The company designs and manufactures gas delivery systems, fluid delivery systems, precision-machined components, process modules and other equipment used by semiconductor capital-equipment manufacturers.

Ultra Clean also provides contract manufacturing, analytical laboratory, equipment installation, repair, refurbishment and tool-maintenance services.