Oppenheimer Begins Coverage on Ultra Clean (NASDAQ:UCTT)

Oppenheimer started coverage on shares of Ultra Clean (NASDAQ:UCTT) in a research report sent to investors on Wednesday morning, Marketbeat reports. The firm issued an outperform rating and a $70.00 price objective on the semiconductor company’s stock.

A number of other equities research analysts have also recently weighed in on UCTT. Craig Hallum lifted 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. TD Cowen upped their price objective on Ultra Clean from $55.00 to $60.00 and gave the stock a buy rating in a research report on Friday, July 26th. Finally, Needham & Company LLC reiterated a buy rating and set a $56.00 price target on shares of Ultra Clean in a research note on Friday, July 26th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $61.50.

Ultra Clean Stock Down 1.8 %

Shares of NASDAQ UCTT opened at $40.16 on Wednesday. The stock has a market cap of $1.81 billion, a PE ratio of -48.98 and a beta of 2.09. The company has a 50-day moving average of $37.79 and a 200 day moving average of $43.18. Ultra Clean has a 12-month low of $22.15 and a 12-month high of $56.47. The company has a current ratio of 2.73, a quick ratio of 1.60 and a debt-to-equity ratio of 0.52.

Ultra Clean (NASDAQ:UCTT) last posted its earnings results on Thursday, July 25th. The semiconductor company reported $0.21 earnings per share for the quarter. The company had revenue of $516.10 million for the quarter, compared to analyst estimates of $490.06 million. Ultra Clean had a negative net margin of 0.46% and a positive return on equity of 2.59%. Ultra Clean’s revenue was up 22.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.16 EPS.

Insider Activity

In other Ultra Clean news, CFO Sheri Savage sold 10,079 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $54.18, for a total transaction of $546,080.22. Following the transaction, the chief financial officer now directly owns 52,575 shares in the company, valued at $2,848,513.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Sheri Savage sold 10,079 shares of Ultra Clean stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $54.18, for a total transaction of $546,080.22. Following the completion of the transaction, the chief financial officer now directly owns 52,575 shares in the company, valued at approximately $2,848,513.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James P. Scholhamer sold 26,608 shares of the stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $55.10, for a total value of $1,466,100.80. Following the sale, the chief executive officer now directly owns 418,453 shares in the company, valued at approximately $23,056,760.30. The disclosure for this sale can be found here. Insiders sold 47,266 shares of company stock valued at $2,556,853 in the last three months. 2.20% of the stock is currently owned by company insiders.

Institutional Trading of Ultra Clean

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its position in Ultra Clean by 52.1% during the second quarter. GAMMA Investing LLC now owns 622 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 213 shares during the period. CWM LLC raised its stake in shares of Ultra Clean by 46.3% in the 2nd quarter. CWM LLC now owns 800 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 253 shares during the period. Truist Financial Corp raised its position in Ultra Clean by 4.6% in the second quarter. Truist Financial Corp now owns 7,080 shares of the semiconductor company’s stock valued at $347,000 after purchasing an additional 310 shares during the period. SummerHaven Investment Management LLC lifted its stake in shares of Ultra Clean by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 19,993 shares of the semiconductor company’s stock worth $980,000 after purchasing an additional 331 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its position in shares of Ultra Clean by 1.8% in the second quarter. Louisiana State Employees Retirement System now owns 22,600 shares of the semiconductor company’s stock worth $1,107,000 after buying an additional 400 shares during the period. Hedge funds and other institutional investors own 96.06% of the company’s stock.

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.