Ultra Clean (NASDAQ:UCTT) Shares Gap Up – Here’s What Happened

Ultra Clean Holdings, Inc. (NASDAQ:UCTT)’s share price gapped up before the market opened on Monday . The stock had previously closed at $39.68, but opened at $40.64. Ultra Clean shares last traded at $41.32, with a volume of 91,528 shares traded.

Analyst Ratings Changes

UCTT has been the topic of a number of recent research reports. TD Cowen lifted their price objective 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. Craig Hallum upped their price objective on Ultra Clean from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Oppenheimer began coverage on Ultra Clean in a research report on Wednesday, September 25th. They set an “outperform” rating and a $70.00 price objective for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $56.00 price target on shares of Ultra Clean in a research note on Friday, July 26th. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Ultra Clean currently has an average rating of “Buy” and an average target price of $61.50.

Ultra Clean Price Performance

The company has a market cap of $1.83 billion, a price-to-earnings ratio of -48.39 and a beta of 2.08. The company has a 50-day simple moving average of $36.76 and a 200-day simple moving average of $42.80. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.60 and a current ratio of 2.73.

Ultra Clean (NASDAQ:UCTT) last announced its quarterly earnings data on Thursday, July 25th. The semiconductor company reported $0.21 earnings per share for the quarter. The firm had revenue of $516.10 million for the quarter, compared to analyst estimates of $490.06 million. Ultra Clean had a positive return on equity of 2.59% and a negative net margin of 0.46%. Ultra Clean’s quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.16 earnings per share. As a group, research analysts predict that Ultra Clean Holdings, Inc. will post 1.1 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in UCTT. Fisher Asset Management LLC boosted its stake in shares of Ultra Clean by 0.8% during the 4th quarter. Fisher Asset Management LLC now owns 167,345 shares of the semiconductor company’s stock worth $5,713,000 after acquiring an additional 1,249 shares in the last quarter. Vanguard Group Inc. grew its holdings in Ultra Clean by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 4,360,555 shares of the semiconductor company’s stock valued at $148,869,000 after purchasing an additional 148,819 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Ultra Clean by 19.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,164 shares of the semiconductor company’s stock valued at $108,000 after buying an additional 514 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in shares of Ultra Clean by 47.6% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 808,723 shares of the semiconductor company’s stock worth $37,152,000 after buying an additional 260,740 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Ultra Clean in the 1st quarter worth about $96,000. 96.06% of the stock is currently owned by institutional investors and hedge funds.

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.