Ultra Clean Holdings Edges Up in Stock Debut
From Dow Jones/Associated Press
Shares of Ultra Clean Holdings Inc. of Menlo Park, Calif., which makes equipment for computer chip manufacturers, rose modestly in their trading debut Thursday. The stock (ticker symbol: UCTT) closed at $7.50, up 50 cents, or 7%, from the initial public offering price for the 6 million shares sold.
Ultra Clean makes systems that deploy gases used in semiconductor-manufacturing.
It reported net income of $180,000 on revenue of $77.5 million last year.
About 92% of its revenue came from just three customers: Applied Materials Inc., Novellus Systems Inc. and Lam Research Corp., according to company financial documents.
