A securities class action has been filed in the USDC – N.D.CA. against Ultra Clean Holdings, Inc (UCTT) (“Ultra Clean” or the “Company”), on behalf of all persons and entities that purchased or otherwise acquired Ultra Clean common stock between May 6, 2024, and February 24, 2025, both dates inclusive (the “Class Period”).
Ultra Clean is a developer and supplier of subsystems, components, parts, and ultrahigh purity cleaning and analytical services primarily for the semiconductor industry. Ultra Clean offers its customers an integrated outsourced solution for major subassemblies, improved design to-delivery cycle times, design for manufacturability, prototyping and part and component manufacturing, as well as tool chamber parts cleaning and coating, and micro-contamination analytical services.
The Company reports results for two segments: Products and Services. The Products segment primarily designs, engineers, and manufactures production tools, components and parts, and modules and subsystems for the semiconductor and display capital equipment markets. Products include chemical delivery modules, frame assemblies, gas delivery systems, fluid delivery systems, precision robotics, process modules as well as other high-level assemblies. The Services segment provides ultra-high purity parts cleaning, process tool part recoating, surface encapsulation and high sensitivity micro contamination analysis primarily for the semiconductor device makers and wafer fabrication equipment (“WFE”) markets.
The Complaint alleges that the Defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of the demand for Ultra Clean’s products and services in the domestic Chinese market; notably, that the Company was facing a customer ramp issue with one of its critical customers, as well as a combination of inventory and demand corrections, which, ultimately, caused weakness for Ultra Clean in China.
As a result of the Company’s published fourth quarter and full year 2024 fiscal results, from a closing market price of $36.06 per share on February 24, 2025, Ultra Clean’s stock price fell to $25.90 per share on February 25, 2025, a decline of over 28% in the span a single day.
If you purchased Ultra Clean common stock during the Class Period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.