Wall Street Zen Downgrades Ultra Clean (NASDAQ:UCTT) to Hold

by · The Markets Daily

Ultra Clean (NASDAQ:UCTT – Get Free Report) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other research analysts have also issued reports on UCTT. TD Cowen raised their target price on shares of Ultra Clean from $100.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Zacks Research raised shares of Ultra Clean from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 25th. Needham & Company LLC upped their price target on shares of Ultra Clean from $70.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Oppenheimer upped their price target on shares of Ultra Clean from $100.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, June 9th. Finally, UBS Group initiated coverage on Ultra Clean in a research report on Tuesday, May 5th. They issued a “buy” rating and a $130.00 price target on the stock. Two research 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 data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $113.40.

Read Our Latest Research Report on Ultra Clean

Ultra Clean Stock Performance

NASDAQ:UCTT opened at $83.31 on Friday. Ultra Clean has a 12 month low of $21.28 and a 12 month high of $144.22. The firm has a market cap of $3.73 billion, a price-to-earnings ratio of -19.42, a P/E/G ratio of 1.11 and a beta of 1.88. The company has a quick ratio of 1.72, a current ratio of 3.07 and a debt-to-equity ratio of 0.86. The company’s 50 day moving average is $100.52 and its 200-day moving average is $76.14.

Insider Activity at Ultra Clean

In other news, Director Emily M. Liggett sold 8,198 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $92.18, for a total transaction of $755,691.64. Following the completion of the transaction, the director owned 38,152 shares of the company’s stock, valued at approximately $3,516,851.36. This represents a 17.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey L. Mckibben sold 4,205 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $87.00, for a total transaction of $365,835.00. Following the completion of the sale, the insider owned 11,349 shares of the company’s stock, valued at approximately $987,363. The trade was a 27.03% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 56,725 shares of company stock worth $4,989,261. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Ultra Clean

Several large investors have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC grew its holdings 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 worth $25,000 after purchasing an additional 284 shares in the last quarter. Danske Bank A S raised its stake in shares of Ultra Clean by 450.0% in the fourth quarter. Danske Bank A S now owns 1,100 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 900 shares in the last quarter. AdvisorNet Financial Inc acquired a new position in shares of Ultra Clean in the first quarter valued at $34,000. Smartleaf Asset Management LLC lifted its position in Ultra Clean by 472.9% in the second quarter. Smartleaf Asset Management LLC now owns 1,713 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 1,414 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in Ultra Clean by 37.3% in the first quarter. EverSource Wealth Advisors LLC now owns 721 shares of the semiconductor company’s stock worth $45,000 after purchasing an additional 196 shares during the period. Institutional investors and hedge funds own 96.06% of the company’s stock.

Ultra Clean Company Profile

(Get Free Report)

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.

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