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UCTT
ACCE-researched

Ultra Clean Holdings Inc. Common Stock (UCTT) fair value

Technology · Semiconductor Equipment & Materials · NASDAQ · United States
$45.32+1.93%
Market cap $2.0BNext earnings 2026-10-27Updated Oct 24, 2026
Add earnings to calendarGoogle
Our verdict
Trades 66% below our fair value
Price
$45.32
Model fair valueConfidence: low
about $134
Built from weaker models, sales multiples or analyst targets, so treat it as a rough guide.
Not used by alerts or posts.
Valued as a loss-making company: Sales comps and Analyst consensus.
ACCE opinionUltra Clean Holdings Inc. Common Stock (UCTT)
Fair value (2 models)
Not available
ACCE price target
$56.00
Rating
Not rated
Horizon
12 months
ACCE price target published on 15 Oct 2026, 00:00 CEST; previously $82.00 since 28 Sept 2026, 00:00 CEST.
Price used: $45.32 at the close on 23 Oct 2026, 22:00 CEST.
Models: Analyst consensus and Sales comps.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Full methodology
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
ACCE score
42
out of 100
Analysts
100% buy
6 covering
P/E
0.0x
forward 12.1x
1-year return
+51.7%
Dividend yield
0.00%

Ultra Clean Holdings Inc. Common Stock in four questions

Plain answers, details below
Free accounts get 5 full stock pages a month, including the four answers.
OverviewAsk ACCEValuationQualityAnalystsSmart MoneyCompareNews and Record

Overview

ACCE thesis

Ultra Clean makes gas delivery systems, fluid subsystems and precision assemblies that go inside semiconductor fabrication tools sold by major equipment makers. Being embedded in a few large customers' supply chains gives it a steady position, but it also limits pricing power. Chip equipment spending is the driver. Revenue grew 24.3% yet the gross margin is only 15.8% and the operating margin 4.6%, at 12.1x forward earnings.

AI-assisted·How I use AIWritten Oct 14, 2026
⚠ Investor warnings · 4 flagsAI-assisted·How I use AI
  • high
    Earnings collapse despite revenue growth
    Revenue up 24.3% YoY but earnings down 40.1%. Net margin negative at -1.1% and ROE -1.6%, signalling operational leverage is broken.
  • high
    Insider selling with no offsetting buys
    $4.07M in insider sales over last 10 disclosures versus $0 in buys. Suggests insiders lack conviction at current price.
  • moderate
    Elevated leverage and weak cash generation
    Debt/Equity 1.14 combined with only $15M FCF on $3.1B market cap. Limited financial flexibility if growth stalls.
  • moderate
    Quality score deterioration
    ACCE Quality component at 31/100, dragging overall score. Valuation component also weak at 38/100 despite 12.1x forward P/E.

AI research notes

AI-assisted·How I use AIWritten Oct 11, 2026 · figures from 2026-06-30 · prices to Oct 23, 2026
Why it could do well
  • Revenue accelerated 24.3% year over year, crushing the 8.0% five-year average and signaling strong demand recovery.
  • Latest earnings beat expectations by 27.3%, demonstrating execution and raising confidence in forward guidance.
Why it could disappoint
  • Net margin is negative at -1.1% despite 24.3% revenue growth, revealing that top-line gains are not translating to profit.
  • Return on invested capital of -9.8% and ROE of -1.6% show the company destroys shareholder value at current scale.
  • Free cash flow yield of 0.5% on a debt-to-equity ratio of 1.14 leaves minimal cushion if the semiconductor cycle weakens.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.

Next results

Oct 27, 2026
We update the fair value about 2 days after the results, once the new figures are filed.Add to calendarGoogle

Walk me through this stock

Plain-English pros, cons, and what to watch. Pro feature.

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Valuation

INVESTOR
Where UCTT's valuation models land
Price
$45.32
Model fair valueConfidence: low
about $134
Model
Fair value
Upside
Analyst consensus
Sales comps
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Quality

INVESTOR
Quality and conviction INVESTOR FEATURE

The full quality picture: a reason under every score, how the scores moved, and the conviction breakdown.

  • +A plain reason under every score
  • +Conviction breakdown and growth / value / quality / momentum scores
  • +Score history: how each score moved over time

Analysts

Wall Street consensus

Bullish100% buy · 6 covering analysts
● Strong buy 5● Buy 1● Hold 0● Sell 0● Strong sell 0
Analyst intelligence INVESTOR FEATURE

The full analyst picture: the price-target distribution against the current price, forward consensus estimates, and how ACCE's own models compare.

  • +Price-target low / average / high vs the current price, with implied upside
  • +Forward revenue and EPS consensus by fiscal year
  • +ACCE fair-value models lined up against the Street

Smart Money

PRO

In one line

Trades are only made public after a delay. We show the delay so you know how old the news is.

Company insiders
No trades filed
Last 90 days
Congress
No trades filed
Last 180 days
Average delay
No trades filed
From trade to public filing
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Smart money tracking PRO FEATURE

Follow the informed money: 13F position changes, insider and Congress trades, and 13D activist filings.

  • +Quarter-over-quarter institutional position changes
  • +Every insider and Congress trade, with how late it was disclosed
  • +Active 13D activist filings and top holders

Compare

Where it sits vs peers

News and Record

Press releases mentioning this company

Recent performance

1 week
-11.1%
1 month
-41.4%
3 months
-51.1%
6 months
-45.4%
YTD
+78.9%
1 year
+51.7%

SEC filings

Recommendation history, last 12 months

DateTypeNewPreviousPrice
15 Oct 2026, 00:00 CESTACCE price target$56.00$82.00$56.79
9 Oct 2026, 00:00 CESTFair value$57.69$53.17$71.42
2 Oct 2026, 00:00 CESTFair value$53.17$53.82$81.06
28 Sept 2026, 00:00 CESTACCE price target$82.00first publication$77.69
25 Sept 2026, 00:00 CESTFair value$53.82$52.36$77.29
22 Sept 2026, 00:00 CESTFair value$52.36$54.08$70.64
20 Sept 2026, 00:00 CESTFair value$54.08$53.03$70.64
15 Sept 2026, 00:00 CESTFair value$53.03$53.56$74.04
13 Sept 2026, 00:00 CESTFair value$53.56$52.82$74.04
11 Sept 2026, 00:00 CESTFair value$52.82$54.30$75.00

This analysis is not personalised investment advice and does not take your situation, objectives or risk tolerance into account. ACCE Investments is not an authorised investment firm.

Investing in shares carries a risk of losing capital. The value of an investment can go down as well as up.

Valuation horizon: 12 months from the publication date.

Conflicts of interest. ACCE Investments is operated by Adrien Chantreuil, who may hold personal positions in the securities analysed. Positions are declared on each security. ACCE receives no payment from the companies analysed or from any intermediary for this analysis.

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Snapshot

Growth52Value38Quality31Momentum46Total42
Valuation
Trailing P/E
0.0x
Forward P/E
12.1x
PEG
no data
P/B
5.42x
EV / Revenue
1.8x
Book value/sh
$14.12
Enterprise value
$4.0B
Profitability
ROE
-1.6%
FCF yield
0.77%
ROIC
-9.8%
Health and risk
Debt / equity
1.14
Dividend yield
0.00%
Beta
1.85

Price

+51.1% · 1Y

Ask anything about UCTT

Answered from Ultra Clean Holdings Inc. Common Stock fundamentals + recent valuations. Every number shows its source and date.

This stock Peer Peer median weaker → stronger
P/Ebetter than 100% of peers
low 0.0x0.0xhigh 113.7x
ROEbetter than 50% of peers
low -9%-2%high 14%
Div yieldbetter than 100% of peers
low 0.0%0.0%high 0.0%

Peers

Prices Oct 23, 2026
CompanyPriceFair valuevs fair valueP/EROEQualityScore
UCTT Ultra Clean Holdings Inc. Common Stock$45.32----1.6%3142
AEHR Aehr Test Systems Common Stock$55.31----4.2%3940
COHU Cohu Inc. Common Stock$47.96----4.8%3949
PLAB Photronics Inc. Common Stock$28.15$3826% below10.0x13.8%7561
VECO Veeco Instruments Inc. Common Stock$42.06$2661% above113.7x2.6%5147
SILEX.ST Silex Microsystems AB (publ)kr 136.75kr 8267% above40.8x0.0%8061
AMBA Ambarella Inc. Ordinary Shares$66.50----9.4%4335

Sector report card

Where UCTT ranks against its sector peers on each metric.

Computing percentiles…
  • PR Newswire•Oct 5, 2026
    Ultra Clean Announces Q3 2026 Earnings Date and Conference Call
  • PR Newswire•Sep 30, 2026
    Ultra Clean Appoints Alexander Davern to Board of Directors
  • PR Newswire•Aug 10, 2026
    Ultra Clean Announces Participation at Upcoming Investor Conferences
3 more press releases · full archive on Investor+.INVESTOR
40 filings
October 2026
Oct 2
Form 4Insider transactionPeriod 2026-09-30
View on SEC →
September 2026
Sep 30
8-KCurrent reportPeriod 2026-09-28
View on SEC →
Sep 4
Form 4Insider transactionPeriod 2026-08-31
View on SEC →
37 more filings + AI summaries on Investor+.INVESTOR