Ultra Clean (NASDAQ:UCTT) Shares Up 3.7% - Here's What Happened

Ultra Clean Holdings, Inc. (NASDAQ:UCTT - Get Free Report)'s share price shot up 3.7% on Thursday . The stock traded as high as $38.15 and last traded at $37.99. 15,047 shares were traded during trading, a decline of 95% from the average session volume of 274,817 shares. The stock had previously closed at $36.63.

Analyst Ratings Changes

Several research analysts have recently issued reports on UCTT shares. Oppenheimer initiated coverage on Ultra Clean in a research note on Wednesday, September 25th. They issued an "outperform" rating and a $70.00 price target for the company. Needham & Company LLC reduced their price target on shares of Ultra Clean from $50.00 to $44.00 and set a "buy" rating for the company in a research note on Tuesday, October 29th. Finally, TD Cowen decreased their price objective on shares of Ultra Clean from $60.00 to $57.00 and set a "buy" rating for the company in a report on Tuesday, October 29th.

Ultra Clean Price Performance

The company has a 50 day moving average of $37.09 and a two-hundred day moving average of $38.85. The firm has a market cap of $1.74 billion, a P/E ratio of 483.06 and a beta of 2.10. The company has a quick ratio of 1.63, a current ratio of 2.75 and a debt-to-equity ratio of 0.52.

Ultra Clean (NASDAQ:UCTT - Get Free Report) last posted its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.02. Ultra Clean had a net margin of 0.18% and a return on equity of 4.08%. The company had revenue of $540.40 million during the quarter, compared to analyst estimates of $515.88 million. During the same quarter last year, the firm posted ($0.03) EPS. The business's revenue for the quarter was up 24.2% on a year-over-year basis. Sell-side analysts expect that Ultra Clean Holdings, Inc. will post 1.09 EPS for the current year.

Insider Buying and Selling at Ultra Clean

In related news, COO Harjinder Bajwa bought 10,000 shares of the business's stock in a transaction dated Friday, November 15th. The shares were bought at an average cost of $33.75 per share, with a total value of $337,500.00. Following the completion of the transaction, the chief operating officer now directly owns 54,291 shares of the company's stock, valued at approximately $1,832,321.25. This trade represents a 22.58 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey L. Mckibben sold 3,422 shares of the company's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $38.20, for a total value of $130,720.40. Following the sale, the insider now directly owns 18,805 shares of the company's stock, valued at approximately $718,351. This represents a 15.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 27,500 shares of company stock valued at $943,275. Corporate insiders own 2.20% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Signaturefd LLC lifted its position in shares of Ultra Clean by 465.5% in the 3rd quarter. Signaturefd LLC now owns 803 shares of the semiconductor company's stock valued at $32,000 after acquiring an additional 661 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Ultra Clean during the 3rd quarter valued at $32,000. Nisa Investment Advisors LLC lifted its holdings in shares of Ultra Clean by 107.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 948 shares of the semiconductor company's stock valued at $34,000 after purchasing an additional 490 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Ultra Clean by 92.4% in the third quarter. GAMMA Investing LLC now owns 1,197 shares of the semiconductor company's stock worth $48,000 after buying an additional 575 shares during the period. Finally, Quarry LP grew its holdings in shares of Ultra Clean by 447.5% during the third quarter. Quarry LP now owns 1,210 shares of the semiconductor company's stock valued at $48,000 after buying an additional 989 shares in the last quarter. 96.06% of the stock is owned by hedge funds and other institutional investors.

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.