Ultra Clean (NASDAQ:UCTT) Shares Gap Up - Time to Buy?

Shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $35.05, but opened at $36.38. Ultra Clean shares last traded at $33.94, with a volume of 177,399 shares traded.

Analyst Upgrades and Downgrades

Several research firms have commented on UCTT. Oppenheimer began coverage on shares of Ultra Clean in a research report on Wednesday, September 25th. They issued an "outperform" rating and a $70.00 price target on the stock. TD Cowen cut their price target on shares of Ultra Clean from $60.00 to $57.00 and set a "buy" rating on the stock in a report on Tuesday. Craig Hallum lifted their price target on Ultra Clean from $52.00 to $60.00 and gave the stock a "buy" rating in a research note on Friday, July 26th. Finally, Needham & Company LLC dropped their price objective on Ultra Clean from $50.00 to $44.00 and set a "buy" rating for the company in a report on Tuesday. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Ultra Clean presently has a consensus rating of "Buy" and a consensus price target of $57.75.

Ultra Clean Trading Up 0.2 %

The company has a 50-day moving average price of $36.67 and a 200-day moving average price of $42.09. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.60 and a current ratio of 2.73. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of -42.83 and a beta of 2.08.

Institutional Trading of Ultra Clean

Institutional investors have recently made changes to their positions in the company. Swedbank AB acquired a new stake in Ultra Clean during the first quarter valued at $111,828,000. Assenagon Asset Management S.A. increased its stake in shares of Ultra Clean by 454.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 335,096 shares of the semiconductor company's stock worth $13,380,000 after purchasing an additional 274,628 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its position in Ultra Clean by 47.6% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 808,723 shares of the semiconductor company's stock worth $37,152,000 after purchasing an additional 260,740 shares during the period. Hood River Capital Management LLC acquired a new stake in shares of Ultra Clean in the 1st quarter valued at approximately $10,915,000. Finally, Vanguard Group Inc. grew its holdings in shares of Ultra Clean by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 4,360,555 shares of the semiconductor company's stock worth $148,869,000 after purchasing an additional 148,819 shares in the last quarter. Institutional investors own 96.06% of the company's stock.

About Ultra Clean

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.