Ultra Clean Holdings, Inc. (NASDAQ:UCTT) Short Interest Up 16.8% in October

Ultra Clean Holdings, Inc. (NASDAQ:UCTT) saw a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 998,100 shares, an increase of 16.8% from the October 15th total of 854,900 shares. Based on an average daily trading volume, of 450,100 shares, the days-to-cover ratio is presently 2.2 days.

Insider Activity at Ultra Clean

In other Ultra Clean news, COO Harjinder Bajwa acquired 2,500 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The shares were bought at an average cost of $33.33 per share, with a total value of $83,325.00. Following the completion of the acquisition, the chief operating officer now directly owns 29,291 shares in the company, valued at $976,269.03. This represents a 9.33 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey L. Mckibben sold 3,422 shares of Ultra Clean stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $38.20, for a total transaction of $130,720.40. Following the transaction, the insider now directly owns 18,805 shares in the company, valued at approximately $718,351. The trade was a 15.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ultra Clean

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its stake in shares of Ultra Clean by 52.1% during the second quarter. GAMMA Investing LLC now owns 622 shares of the semiconductor company’s stock worth $30,000 after buying an additional 213 shares during the period. Signaturefd LLC lifted its position in Ultra Clean by 465.5% during the third quarter. Signaturefd LLC now owns 803 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 661 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Ultra Clean during the third quarter valued at $32,000. CWM LLC lifted its position in Ultra Clean by 46.3% during the second quarter. CWM LLC now owns 800 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 253 shares during the period. Finally, Innealta Capital LLC acquired a new position in Ultra Clean during the second quarter valued at $41,000. 96.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. TD Cowen lowered their target price on shares of Ultra Clean from $60.00 to $57.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Needham & Company LLC lowered their target price 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. Craig Hallum raised their target price on shares of Ultra Clean from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Oppenheimer assumed coverage on shares of Ultra Clean in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $70.00 target price for the company. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Ultra Clean currently has an average rating of “Buy” and a consensus price target of $57.75.

Ultra Clean Trading Down 3.2 %

NASDAQ:UCTT opened at $33.97 on Friday. Ultra Clean has a 12 month low of $25.65 and a 12 month high of $56.47. The firm has a fifty day simple moving average of $36.38 and a 200-day simple moving average of $41.54. The company has a current ratio of 2.75, a quick ratio of 1.63 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $1.53 billion, a P/E ratio of 424.68 and a beta of 2.08.

Ultra Clean (NASDAQ:UCTT) last posted its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.35 EPS for the quarter, topping 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 business had revenue of $540.40 million during the quarter, compared to the consensus estimate of $515.88 million. During the same period in the previous year, the firm posted ($0.03) earnings per share. The business’s revenue for the quarter was up 24.2% compared to the same quarter last year. On average, equities research analysts anticipate that Ultra Clean will post 1.09 earnings per share for the current year.

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.