Ultra Clean (NASDAQ:UCTT) Shares Gap Down – Time to Sell?

Ultra Clean Holdings, Inc. (NASDAQ:UCTT)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $86.97, but opened at $80.69. Ultra Clean shares last traded at $75.2660, with a volume of 173,936 shares traded.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Wall Street Zen raised Ultra Clean from a “hold” rating to a “buy” rating in a research report on Tuesday, July 7th. TD Cowen upped their target price on Ultra Clean from $100.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Needham & Company LLC increased their price target on Ultra Clean from $70.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Weiss Ratings lowered shares of Ultra Clean from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday. Finally, Oppenheimer upped their price objective on shares of Ultra Clean from $100.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, June 9th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $113.40.

Ultra Clean Trading Down 9.9%

The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.72 and a current ratio of 3.07. The company has a 50-day simple moving average of $100.69 and a 200 day simple moving average of $74.89. The company has a market capitalization of $3.51 billion, a P/E ratio of -18.34, a P/E/G ratio of 1.24 and a beta of 1.83.

Ultra Clean (NASDAQ:UCTT) last posted its quarterly earnings data on Tuesday, April 28th. The semiconductor company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.04. Ultra Clean had a positive return on equity of 4.28% and a negative net margin of 9.38%.The company had revenue of $533.70 million during the quarter, compared to analysts’ expectations of $525.28 million. During the same period in the prior year, the business earned $0.28 earnings per share. Ultra Clean’s revenue for the quarter was up 2.9% compared to the same quarter last year. Sell-side analysts expect that Ultra Clean Holdings, Inc. will post 2.14 earnings per share for the current year.

Insider Buying and Selling

In other news, General Counsel Paul Yoonku Cho sold 944 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $89.37, for a total transaction of $84,365.28. Following the transaction, the general counsel owned 22,941 shares in the company, valued at approximately $2,050,237.17. The trade was a 3.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Jamie J. Palfrey sold 8,691 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $79.72, for a total transaction of $692,846.52. Following the completion of the sale, the senior vice president owned 16,446 shares of the company’s stock, valued at approximately $1,311,075.12. The trade was a 34.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 80,106 shares of company stock worth $6,734,589. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ultra Clean

Several institutional investors and hedge funds have recently bought and sold shares of UCTT. Quadrant Capital Group LLC boosted its position in shares of Ultra Clean by 40.3% during the 4th quarter. Quadrant Capital Group LLC now owns 989 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 284 shares in the last quarter. Danske Bank A S lifted its stake 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 worth $28,000 after purchasing an additional 900 shares during the period. AdvisorNet Financial Inc bought a new position in Ultra Clean during the first quarter worth about $34,000. Smartleaf Asset Management LLC boosted its holdings in Ultra Clean by 472.9% during the second quarter. Smartleaf Asset Management LLC now owns 1,713 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 1,414 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Ultra Clean by 37.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 721 shares of the semiconductor company’s stock valued at $45,000 after purchasing an additional 196 shares during the period. Institutional investors 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.