Ultra Clean (NASDAQ:UCTT) Reaches New 12-Month Low Following Weak Earnings

Ultra Clean Holdings, Inc. (NASDAQ:UCTT)’s share price reached a new 52-week low on Tuesday following a dissappointing earnings announcement. The stock traded as low as $31.87 and last traded at $27.34, with a volume of 3585 shares changing hands. The stock had previously closed at $36.06.

The semiconductor company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.03). Ultra Clean had a return on equity of 4.08% and a net margin of 0.18%. The business had revenue of $563.30 million for the quarter, compared to the consensus estimate of $559.19 million.

Wall Street Analyst Weigh In

A number of research analysts have commented on UCTT shares. Needham & Company LLC decreased their price objective on Ultra Clean from $44.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday. TD Cowen cut their price objective on Ultra Clean from $60.00 to $57.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th.

Hedge Funds Weigh In On Ultra Clean

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Ultra Clean by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 4,835,228 shares of the semiconductor company’s stock valued at $173,826,000 after acquiring an additional 129,616 shares during the last quarter. Shapiro Capital Management LLC grew its holdings in Ultra Clean by 66.8% in the 4th quarter. Shapiro Capital Management LLC now owns 2,746,482 shares of the semiconductor company’s stock worth $98,736,000 after acquiring an additional 1,099,899 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Ultra Clean by 3.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,406,834 shares of the semiconductor company’s stock valued at $86,526,000 after purchasing an additional 77,307 shares during the period. Geode Capital Management LLC increased its position in Ultra Clean by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,047,719 shares of the semiconductor company’s stock valued at $41,843,000 after purchasing an additional 10,501 shares during the period. Finally, Boston Partners lifted its holdings in Ultra Clean by 227.1% in the fourth quarter. Boston Partners now owns 1,035,214 shares of the semiconductor company’s stock worth $37,625,000 after buying an additional 718,717 shares during the period. 96.06% of the stock is currently owned by hedge funds and other institutional investors.

Ultra Clean Stock Performance

The company has a debt-to-equity ratio of 0.52, a current ratio of 2.75 and a quick ratio of 1.63. The company has a 50 day moving average of $37.14 and a two-hundred day moving average of $36.94. The company has a market capitalization of $1.24 billion, a PE ratio of 341.86, a PEG ratio of 0.51 and a beta of 2.09.

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.