Saturday, April 10, 2021

Ultra Clean Holdings Inc. [UCTT] gain 86.85% so far this year. What now?

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Ultra Clean Holdings Inc. [NASDAQ: UCTT] loss -10.47% or -6.8 points to close at $58.21 with a heavy trading volume of 2125676 shares. The company report on April 6, 2021 that UCT Announces Launch of Public Offering of Common Stock.

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Ultra Clean Holdings, Inc. (Nasdaq: UCTT), a leading developer and supplier of critical subsystems, ultra-high purity cleaning and analytical services primarily for the semiconductor industry, announced that it has commenced an underwritten public offering of $175.0 million of its common stock. All of the shares of common stock to be sold in the offering will be offered by the Company. In addition, the Company expects to grant the underwriters a 30-day option to purchase additional shares of Ultra Clean’s common stock at the public offering price, less the underwriting discount. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.


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The Company intends to use the net proceeds from this offering for general corporate purposes, including working capital, sales and marketing activities, product development, general and administrative matters, and capital expenditures. The Company may use a portion of the net proceeds to acquire complementary businesses, products, services, or technologies, although it has no agreements, commitments, or plans for any specific acquisitions at this time.

It opened the trading session at $60.28, the shares rose to $61.03 and dropped to $56.31, the range by which the price of stock traded the whole day. The daily chart for UCTT points out that the company has recorded 166.75% gains over the past six months. However, it is still -345.03% lower than its most recent low trading price.

If we look at the average trading volume of 566.43K shares, UCTT reached to a volume of 2125676 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Ultra Clean Holdings Inc. [UCTT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for UCTT shares is $60.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on UCTT stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Cowen have made an estimate for Ultra Clean Holdings Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on February 18, 2021. While these analysts kept the previous recommendation, Cowen raised their target price from $40 to $48. The new note on the price target was released on January 29, 2021, representing the official price target for Ultra Clean Holdings Inc. stock. Previously, the target price had yet another raise to $35, while DA Davidson analysts kept a Buy rating on UCTT stock.

The Average True Range (ATR) for Ultra Clean Holdings Inc. is set at 4.32, with the Price to Sales ratio for UCTT stock in the period of the last 12 months amounting to 1.54. The Price to Book ratio for the last quarter was 4.43, with the Price to Cash per share for the same quarter was set at 5.41. Price to Free Cash Flow for UCTT in the course of the last twelve months was 35.40 with Quick ratio for the last quarter at 1.80.

Trading performance analysis for UCTT stock

Ultra Clean Holdings Inc. [UCTT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.89. With this latest performance, UCTT shares gained by 27.22% in over the last four-week period, additionally plugging by 166.75% over the last 6 months – not to mention a rise of 357.95% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for UCTT stock in for the last two-week period is set at 56.39, with the RSI for the last a single of trading hit 54.87, and the three-weeks RSI is set at 57.13 for Ultra Clean Holdings Inc. [UCTT]. The present Moving Average for the last 50 days of trading for this stock 49.00, while it was recorded at 60.07 for the last single week of trading, and 32.57 for the last 200 days.

Ultra Clean Holdings Inc. [UCTT]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Ultra Clean Holdings Inc. [UCTT] shares currently have an operating margin of +8.82 and a Gross Margin at +19.45. Ultra Clean Holdings Inc.’s Net Margin is presently recorded at +5.55.

Return on Total Capital for UCTT is now 14.95, given the latest momentum, and Return on Invested Capital for the company is 9.86. Return on Equity for this stock inclined to 16.01, with Return on Assets sitting at 7.31. When it comes to the capital structure of this company, Ultra Clean Holdings Inc. [UCTT] has a Total Debt to Total Equity ratio set at 58.54. Additionally, UCTT Total Debt to Total Capital is recorded at 36.93, with Total Debt to Total Assets ending up at 28.28. Long-Term Debt to Equity for the company is recorded at 54.96, with the Long-Term Debt to Total Capital now at 34.66.

Reflecting on the efficiency of the workforce at the company, Ultra Clean Holdings Inc. [UCTT] managed to generate an average of $15,532 per employee. Receivables Turnover for the company is 10.83 with a Total Asset Turnover recorded at a value of 1.32.Ultra Clean Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.80 and a Current Ratio set at 2.70.

Ultra Clean Holdings Inc. [UCTT]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Ultra Clean Holdings Inc. posted 0.52/share EPS, while the average EPS was predicted by analysts to be reported at 0.44/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 18.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for UCTT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Ultra Clean Holdings Inc. go to 20.00%.

An analysis of insider ownership at Ultra Clean Holdings Inc. [UCTT]

There are presently around $2,070 million, or 90.70% of UCTT stock, in the hands of institutional investors. The top three institutional holders of UCTT stocks are: BLACKROCK INC. with ownership of 6,917,582, which is approximately 13.64% of the company’s market cap and around 2.80% of the total institutional ownership; SWEDBANK, holding 3,300,000 shares of the stock with an approximate value of $192.08 million in UCTT stocks shares; and VANGUARD GROUP INC, currently with $173.94 million in UCTT stock with ownership of nearly 14.154% of the company’s market capitalization.

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Positions in Ultra Clean Holdings Inc. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 116 institutional holders increased their position in Ultra Clean Holdings Inc. [NASDAQ:UCTT] by around 6,392,086 shares. Additionally, 98 investors decreased positions by around 3,191,390 shares, while 27 investors held positions by with 25,976,174 shares. The mentioned changes placed institutional holdings at 35,559,650 shares, according to the latest SEC report filing. UCTT stock had 45 new institutional investments in for a total of 4,120,260 shares, while 16 institutional investors sold positions of 470,932 shares during the same period.

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