Ultra Clean (NASDAQ:UCTT) Hits New 1-Year High – Should You Buy?

Ultra Clean Holdings, Inc. (NASDAQ:UCTT) reached a new 52-week high during trading on Friday . The company traded as high as $59.57 and last traded at $60.3390, with a volume of 143293 shares changing hands. The stock had previously closed at $57.48.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on UCTT shares. Needham & Company LLC upped their price objective on shares of Ultra Clean from $35.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. TD Cowen lifted their price target on Ultra Clean from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Weiss Ratings reiterated a “sell (d)” rating on shares of Ultra Clean in a research note on Monday, December 29th. Finally, Oppenheimer restated an “outperform” rating on shares of Ultra Clean in a research report on Wednesday, October 29th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Ultra Clean has a consensus rating of “Moderate Buy” and a consensus price target of $38.33.

Ultra Clean Stock Performance

The firm has a market cap of $2.69 billion, a price-to-earnings ratio of -16.53, a price-to-earnings-growth ratio of 1.62 and a beta of 2.02. The company has a quick ratio of 1.91, a current ratio of 3.21 and a debt-to-equity ratio of 0.60. The stock has a fifty day moving average price of $38.84 and a 200-day moving average price of $30.36.

Insider Activity at Ultra Clean

In other news, Director David T. Ibnale sold 23,500 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $26.63, for a total value of $625,805.00. Following the completion of the sale, the director owned 45,241 shares in the company, valued at approximately $1,204,767.83. This trade represents a 34.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Ultra Clean

A number of hedge funds have recently added to or reduced their stakes in UCTT. Invesco Ltd. increased its position in Ultra Clean by 63.1% during the 4th quarter. Invesco Ltd. now owns 3,399,834 shares of the semiconductor company’s stock worth $86,118,000 after purchasing an additional 1,315,407 shares during the period. Summit Global Investments acquired a new position in Ultra Clean during the fourth quarter worth $210,000. State of Tennessee Department of Treasury raised its position in Ultra Clean by 25.1% in the fourth quarter. State of Tennessee Department of Treasury now owns 23,557 shares of the semiconductor company’s stock worth $597,000 after acquiring an additional 4,732 shares in the last quarter. XTX Topco Ltd acquired a new stake in Ultra Clean in the fourth quarter valued at $504,000. Finally, VARCOV Co. purchased a new stake in shares of Ultra Clean during the 4th quarter worth $361,000. Institutional investors and hedge funds own 96.06% of the company’s stock.

About Ultra Clean

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.