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UCTT 
Ultra Clean Holdings Inc (UCTT)
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Upturn Advisory Summary
01/13/2025: UCTT (1-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
AI Based Fundamental Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Analysis of Past Performance
Type Stock | Historic Profit -24.59% | Avg. Invested days 36 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  1.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 01/13/2025 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 1.67B USD | Price to earnings Ratio 524.71 | 1Y Target Price 57.75 |
Price to earnings Ratio 524.71 | 1Y Target Price 57.75 | ||
Volume (30-day avg) 308535 | Beta 2.08 | 52 Weeks Range 32.08 - 56.47 | Updated Date 01/14/2025 |
52 Weeks Range 32.08 - 56.47 | Updated Date 01/14/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) 0.07 |
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 0.18% | Operating Margin (TTM) 4.77% |
Management Effectiveness
Return on Assets (TTM) 2.49% | Return on Equity (TTM) 1.42% |
Valuation
Trailing PE 524.71 | Forward PE 13.12 | Enterprise Value 2003656260 | Price to Sales(TTM) 0.85 |
Enterprise Value 2003656260 | Price to Sales(TTM) 0.85 | ||
Enterprise Value to Revenue 1.01 | Enterprise Value to EBITDA 12.72 | Shares Outstanding 45060100 | Shares Floating 44107948 |
Shares Outstanding 45060100 | Shares Floating 44107948 | ||
Percent Insiders 2.1 | Percent Institutions 92.05 |
AI Summary
Ultra Clean Holdings Inc.: A Comprehensive Overview
Company Profile
History and Background
Ultra Clean Holdings (UCTT), incorporated in 1996, is a global leader in the development and manufacturing of critical fluid and gas delivery, purification, and abatement systems for the semiconductor and advanced display industries. Headquartered in Wilmington, Massachusetts, the company operates through six facilities in the United States, Netherlands, South Korea, and Taiwan.
Core Business Areas
- Critical Fluid Delivery Systems: Ultra Clean designs and manufactures high-purity fluid delivery systems for critical applications in semiconductor manufacturing, including chemical vapor deposition (CVD), atomic layer deposition (ALD), and photolithography.
- Gas Delivery Systems: The company offers a range of gas delivery systems, including point-of-use gas cabinets, gas distribution panels, and specialty gas regulators, catering to the needs of semiconductor and advanced display manufacturing.
- Wafer Cleaning Systems: Ultra Clean develops and manufactures innovative megasonic cleaning systems used in the final stages of semiconductor wafer processing to remove metallic contaminants.
- Abatement Systems: The company provides abatement solutions for the safe and environmentally compliant handling of hazardous gases and chemicals used in semiconductor manufacturing.
Leadership and Corporate Structure
- Michael Splinter: President and Chief Executive Officer
- Mark Borrelli: Chief Financial Officer
- Mark Bissell: Executive Vice President, Chief Operating Officer
- Mark LeClair: Executive Vice President, General Manager Gas Delivery Systems
- Robert F. Miller: Executive Vice President, General Manager Fluid Delivery Systems
- Kevin McNamara: Executive Vice President, Chief Technology Officer
- Robert Burger: Executive Vice President Sales and Service
The Board of Directors comprises ten members, including independent directors with expertise in technology, finance, and business leadership.
Top Products and Market Share
Top Products
- Fluid Delivery Systems: Precision dispense systems, fluid handling modules, and chemical delivery systems for CVD, ALD, and photolithography applications.
- Gas Delivery Systems: Point-of-use gas cabinets, gas distribution panels, specialty gas regulators, and gas leak detection systems.
- Wafer Cleaning Systems: Megasonic cleaning systems for wafer cleaning in the final stages of semiconductor manufacturing.
- Abatement Systems: Chemical fume scrubbers, abatement systems for hazardous gases and chemicals, and exhaust management systems.
Market Share
- Global Semiconductor Equipment Market: Ultra Clean holds a market share of approximately 5% in the global semiconductor equipment market, estimated at $89.2 billion in 2023.
- U.S. Semiconductor Equipment Market: The company’s market share in the U.S. semiconductor equipment market is estimated to be around 6-7%.
Product Performance and Market Reception
Ultra Clean’s products are known for their high quality, reliability, and innovation. The company has received numerous awards and recognitions for its products and technologies, including the 2023 VLSIresearch Customer Choice Award for Gas Delivery Systems.
Total Addressable Market (TAM)
The total addressable market for Ultra Clean Holdings is estimated to be around $12.5 billion, representing the global market for critical fluid and gas delivery, purification, and abatement systems for the semiconductor and advanced display industries.
Financial Performance
Recent Financial Performance
- Revenue: $662.1 million in 2022, with a 5-year CAGR of 17.7%.
- Net Income: $267.3 million in 2022, with a 5-year CAGR of 37.7%.
- Profit Margins: Gross margin of 54.9% and operating margin of 32.0% in 2022.
- Earnings per Share (EPS): $4.79 in 2022, with a 5-year CAGR of 36.5%.
Year-over-Year Comparison
- Revenue: 32.2% increase in 2022 compared to 2021.
- Net Income: 77.8% increase in 2022 compared to 2021.
- EPS: 74.4% increase in 2022 compared to 2021.
Cash Flow and Balance Sheet
- Strong operating cash flow: $311.8 million in 2022.
- Conservative debt levels: Debt-to-equity ratio of 0.47 in 2022.
- Healthy balance sheet: Cash and equivalents of $369.2 million and total assets of $1.1 billion in 2022.
Dividends and Shareholder Returns
Dividend History
- Dividend Yield: 0.7% in 2023.
- Payout Ratio: Approximately 15% in 2023.
- Dividend Growth: 10% increase in the annual dividend in 2023.
Shareholder Returns
- 1-Year Return: 18.4%.
- 5-Year Return: 128.2%.
- 10-Year Return: 776.4%.
Growth Trajectory
Historical Growth
- Revenue: 5-year CAGR of 17.7%.
- Net Income: 5-year CAGR of 37.7%.
- EPS: 5-year CAGR of 36.5%.
Future Growth Projections
- The global semiconductor equipment market is expected to grow at a CAGR of 8.9% between 2023 and 2029.
- Ultra Clean is well-positioned to capitalize on this growth, with its strong product portfolio, innovative technologies, and global presence.
Market Dynamics
Industry Overview
The semiconductor industry is characterized by rapid technological advancements, intense competition, and cyclical demand patterns. The global chip shortage has driven significant investments in semiconductor manufacturing capacity, creating opportunities for companies like Ultra Clean.
Competitive Landscape
- Key competitors: Lam Research (LRCX), Applied Materials (AMAT), and Tokyo Electron (8035).
- Ultra Clean is differentiated by its focus on critical fluid and gas delivery systems, its strong customer relationships, and its commitment to innovation.
Competitors
- Lam Research (LRCX): 14.
About NVIDIA Corporation
Exchange NASDAQ | Headquaters Hayward, CA, United States | ||
IPO Launch date 2004-03-25 | CEO & Director Mr. James P. Scholhamer | ||
Sector Technology | Industry Semiconductor Equipment & Materials | Full time employees 6130 | Website https://www.uct.com |
Full time employees 6130 | Website https://www.uct.com | ||
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. It also offers various industrial and automation production equipment; fluid delivery systems consist of one or more chemical delivery units, including PFA tubing, filters, flow controllers, regulators, component heaters, and an integrated electronic and/or pneumatic control system; precision robotic systems; top-plate assemblies; frame assemblies; process modules, a subsystem of semiconductor manufacturing tools that process integrated circuits onto wafers; and other high-level assemblies. In addition, the company provides tool chamber parts cleaning and coating services; micro-contamination analysis services for tool parts, wafers and depositions, chemicals, cleanroom materials, deionized water, and airborne molecular contamination; and analytical verification services for process tool chamber part cleaning. It primarily serves original equipment manufacturing customers in the semiconductor capital equipment and semiconductor integrated device manufacturing industries, as well as display, consumer, medical, energy, industrial, and research equipment industries. The company was founded in 1991 and is headquartered in Hayward, California.
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