Ultra Clean Holdings names James Xiao as new CEO

HAYWARD, Calif. - Ultra Clean Holdings, Inc. (NASDAQ:UCTT), currently trading at $21.63, announced Wednesday that its Board of Directors has appointed James Xiao as Chief Executive Officer effective September 2, 2025. The appointment comes as the company’s stock has experienced a challenging period, declining over 42% in the past six months.

Xiao brings over two decades of experience in the semiconductor, solar, and display industries to the critical subsystems and components supplier. He previously held leadership positions at Applied Materials, where he managed multi-billion-dollar business units. According to InvestingPro data, UCTT currently manages annual revenues of $2.14 billion.

"James is an accomplished technology executive in the semiconductor capital equipment industry known for driving expansion initiatives," said Clarence Granger, Chairman of UCT, in a press release statement.

The incoming CEO holds a Bachelor of Science in Applied Physics from Dalian University of Technology and an MBA from Indiana University’s Kelley School of Business. He has also completed executive leadership training at Stanford University.

Ultra Clean Holdings develops and supplies critical subsystems, components, parts, and cleaning services primarily for the semiconductor industry. The company operates through two divisions: Products, which offers integrated outsourced solutions for major subassemblies, and Services, which provides tool chamber parts cleaning and coating. While the company currently shows a healthy current ratio of 3.06, InvestingPro analysis indicates the stock is currently undervalued, with additional insights available in the comprehensive Pro Research Report covering this and 1,400+ other US equities.

The company is headquartered in Hayward, California. Xiao will assume his new role at the beginning of September, facing the challenge of improving the company’s performance as analysts project a return to profitability this year. For deeper insights into UCTT’s financial health and growth prospects, investors can access additional ProTips and detailed analysis through InvestingPro.

In other recent news, Ultra Clean Holdings Inc reported its second-quarter earnings for 2025, revealing earnings per share of $0.27, which met analysts’ expectations. The company surpassed revenue forecasts by reporting $518.8 million against a projected $500.83 million. This strong performance was primarily attributed to robust sales in its China business. Following these results, Needham raised its price target on Ultra Clean to $30 from $26, maintaining a Buy rating on the stock. In contrast, TD Cowen adjusted its price target to $30 from $32 while also keeping a Buy rating, citing domestic China customer sales as a significant near-term risk. These recent developments highlight differing analyst perspectives on the company’s future potential.

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