Ultra Clean Holdings, Inc. (UCTT) Shares Gap Down After Insider Selling

Shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT) gapped down before the market opened on Friday after an insider sold shares in the company. The stock had previously closed at $23.00, but opened at $25.82. Ultra Clean Holdings shares last traded at $24.52, with a volume of 2,365,016 shares.

Specifically, insider Deborah E. Hayward sold 13,872 shares of the business’s stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $32.48, for a total transaction of $450,562.56. Following the transaction, the insider now owns 61,702 shares of the company’s stock, valued at approximately $2,004,080.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sheri Brumm sold 20,512 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $22.85, for a total value of $468,699.20. Following the transaction, the chief financial officer now directly owns 170,939 shares in the company, valued at approximately $3,905,956.15. The disclosure for this sale can be found here. In the last three months, insiders sold 64,870 shares of company stock worth $1,650,614. 2.60% of the stock is owned by insiders.

Several research analysts have weighed in on the company. Stifel Nicolaus boosted their price target on Ultra Clean Holdings from $18.00 to $20.00 and gave the stock a “hold” rating in a research report on Monday, July 10th. Dougherty & Co boosted their price target on Ultra Clean Holdings from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday. Needham & Company LLC lowered their price target on Ultra Clean Holdings from $36.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday. BidaskClub lowered Ultra Clean Holdings from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, Cowen and Company set a $26.00 price target on Ultra Clean Holdings and gave the stock a “hold” rating in a research report on Friday, July 28th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Ultra Clean Holdings presently has a consensus rating of “Buy” and a consensus price target of $30.00.

The company has a 50-day moving average of $29.41 and a 200 day moving average of $23.44. The firm has a market capitalization of $811.73 million, a P/E ratio of 17.57 and a beta of 1.30.

Ultra Clean Holdings (NASDAQ:UCTT) last issued its quarterly earnings data on Wednesday, October 25th. The semiconductor company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.02). The company had revenue of $242.60 million during the quarter, compared to analysts’ expectations of $239.11 million. Ultra Clean Holdings had a return on equity of 30.08% and a net margin of 7.55%. The business’s revenue for the quarter was up 65.9% compared to the same quarter last year. During the same period last year, the company earned $0.17 earnings per share. Analysts anticipate that Ultra Clean Holdings, Inc. will post $2.30 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of UCTT. Dimensional Fund Advisors LP increased its position in shares of Ultra Clean Holdings by 21.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,779,331 shares of the semiconductor company’s stock valued at $46,886,000 after acquiring an additional 488,054 shares during the last quarter. ClariVest Asset Management LLC increased its position in shares of Ultra Clean Holdings by 1,231.9% during the second quarter. ClariVest Asset Management LLC now owns 479,084 shares of the semiconductor company’s stock valued at $8,982,000 after acquiring an additional 443,115 shares during the last quarter. Bank of Montreal Can increased its position in shares of Ultra Clean Holdings by 97,560.0% during the second quarter. Bank of Montreal Can now owns 442,400 shares of the semiconductor company’s stock valued at $8,295,000 after acquiring an additional 441,947 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Ultra Clean Holdings by 32.3% during the second quarter. Vanguard Group Inc. now owns 1,636,857 shares of the semiconductor company’s stock valued at $30,691,000 after acquiring an additional 399,627 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in shares of Ultra Clean Holdings by 2,868.6% during the second quarter. Nordea Investment Management AB now owns 359,200 shares of the semiconductor company’s stock valued at $6,735,000 after acquiring an additional 347,100 shares during the last quarter. 76.83% of the stock is owned by institutional investors.

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About Ultra Clean Holdings

Ultra Clean Holdings, Inc is engaged in the design, engineering and manufacture of production tools, modules and subsystems the semiconductor capital equipment industry. The Company’s products include precision robotic solutions; gas delivery systems; a range of industrial and automation production equipment products; subsystems that includes wafer cleaning sub-systems, chemical delivery modules, top-plate assemblies, frame assemblies, and process modules.

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