Ultra Clean Holdings, Inc. (NASDAQ:UCTT) Sees Large Increase in Short Interest

Ultra Clean Holdings, Inc. (NASDAQ:UCTTGet Rating) was the recipient of a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 1,210,000 shares, a growth of 16.3% from the June 30th total of 1,040,000 shares. Based on an average daily volume of 402,200 shares, the short-interest ratio is currently 3.0 days.

Insider Activity

In other news, Director Jacqueline A. Seto sold 1,460 shares of the firm’s stock in a transaction on Friday, May 27th. The shares were sold at an average price of $34.12, for a total transaction of $49,815.20. Following the sale, the director now directly owns 11,809 shares in the company, valued at approximately $402,923.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Ultra Clean news, General Counsel Paul Yoonku Cho sold 3,536 shares of Ultra Clean stock in a transaction on Wednesday, May 11th. The shares were sold at an average price of $30.41, for a total value of $107,529.76. Following the sale, the general counsel now directly owns 21,006 shares in the company, valued at approximately $638,792.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jacqueline A. Seto sold 1,460 shares of Ultra Clean stock in a transaction on Friday, May 27th. The shares were sold at an average price of $34.12, for a total transaction of $49,815.20. Following the completion of the sale, the director now owns 11,809 shares in the company, valued at $402,923.08. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Ultra Clean

Large investors have recently made changes to their positions in the company. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Ultra Clean during the 4th quarter worth about $40,000. Versor Investments LP purchased a new position in shares of Ultra Clean during the 1st quarter worth about $437,000. Virginia Retirement Systems ET AL boosted its stake in shares of Ultra Clean by 19.2% during the 4th quarter. Virginia Retirement Systems ET AL now owns 6,200 shares of the semiconductor company’s stock worth $356,000 after purchasing an additional 1,000 shares during the period. Weil Company Inc. boosted its position in Ultra Clean by 25.4% in the 1st quarter. Weil Company Inc. now owns 29,305 shares of the semiconductor company’s stock valued at $1,242,000 after buying an additional 5,945 shares during the period. Finally, Swiss National Bank boosted its position in Ultra Clean by 1.8% in the 4th quarter. Swiss National Bank now owns 98,400 shares of the semiconductor company’s stock valued at $5,644,000 after buying an additional 1,700 shares during the period. 83.46% of the stock is owned by hedge funds and other institutional investors.

Ultra Clean Stock Performance

Ultra Clean stock opened at $35.19 on Friday. The company’s 50-day moving average price is $31.47 and its 200-day moving average price is $37.51. Ultra Clean has a twelve month low of $26.00 and a twelve month high of $60.84. The company has a quick ratio of 1.78, a current ratio of 2.81 and a debt-to-equity ratio of 0.59. The company has a market cap of $1.59 billion, a PE ratio of 20.11 and a beta of 1.96.

Ultra Clean (NASDAQ:UCTTGet Rating) last released its quarterly earnings results on Thursday, July 28th. The semiconductor company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. Ultra Clean had a net margin of 3.42% and a return on equity of 20.20%. The firm had revenue of $608.70 million during the quarter, compared to analysts’ expectations of $590.84 million. During the same period in the previous year, the company earned $0.92 EPS. The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. On average, equities research analysts forecast that Ultra Clean will post 3.88 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. DA Davidson reduced their price target on shares of Ultra Clean from $80.00 to $65.00 in a report on Thursday, April 28th. Cowen reduced their price target on shares of Ultra Clean from $54.00 to $42.00 in a report on Monday. TheStreet downgraded shares of Ultra Clean from a “b-” rating to a “c+” rating in a report on Friday, July 29th. Needham & Company LLC reduced their target price on shares of Ultra Clean from $45.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, July 29th. Finally, Cowen reduced their target price on shares of Ultra Clean from $54.00 to $42.00 in a report on Monday.

Ultra Clean Company Profile

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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.

Further Reading

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