Assenagon Asset Management S.A. Sells 53,711 Shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

Assenagon Asset Management S.A. trimmed its position in Ultra Clean Holdings, Inc. (NASDAQ:UCTT) by 24.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 162,482 shares of the semiconductor company’s stock after selling 53,711 shares during the period. Assenagon Asset Management S.A. owned approximately 0.36% of Ultra Clean worth $3,479,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Headlands Technologies LLC acquired a new stake in shares of Ultra Clean in the fourth quarter valued at about $26,000. Versant Capital Management Inc increased its position in shares of Ultra Clean by 386.9% in the first quarter. Versant Capital Management Inc now owns 1,412 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 1,122 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of Ultra Clean by 694.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 977 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 854 shares during the last quarter. Quarry LP increased its position in shares of Ultra Clean by 58.1% in the fourth quarter. Quarry LP now owns 1,913 shares of the semiconductor company’s stock valued at $69,000 after acquiring an additional 703 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its position in shares of Ultra Clean by 139.2% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,382 shares of the semiconductor company’s stock valued at $86,000 after acquiring an additional 1,386 shares during the last quarter. 96.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on UCTT shares. Oppenheimer lowered their price target on Ultra Clean from $60.00 to $30.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. TD Cowen reduced their price objective on Ultra Clean from $48.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday, April 29th. Wall Street Zen cut Ultra Clean from a “hold” rating to a “sell” rating in a report on Wednesday, April 30th. Finally, Needham & Company LLC reduced their price target on Ultra Clean from $40.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Ultra Clean Stock Performance

Shares of UCTT opened at $19.87 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.75 and a quick ratio of 1.63. Ultra Clean Holdings, Inc. has a 1 year low of $16.66 and a 1 year high of $56.47. The firm has a market cap of $897.11 million, a PE ratio of 248.41, a PEG ratio of 0.51 and a beta of 2.05. The stock’s fifty day moving average price is $20.42 and its two-hundred day moving average price is $28.39.

Ultra Clean (NASDAQ:UCTT) last announced its quarterly earnings data on Monday, April 28th. The semiconductor company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.03). The firm had revenue of $518.60 million for the quarter, compared to the consensus estimate of $526.13 million. Ultra Clean had a net margin of 0.18% and a return on equity of 4.08%. Ultra Clean’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.27 earnings per share. On average, equities research analysts forecast that Ultra Clean Holdings, Inc. will post 1.09 EPS for the current year.

Insider Transactions at Ultra Clean

In other news, General Counsel Paul Yoonku Cho sold 4,084 shares of Ultra Clean stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $21.06, for a total value of $86,009.04. Following the sale, the general counsel now directly owns 23,345 shares of the company’s stock, valued at approximately $491,645.70. The trade was a 14.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey L. Mckibben sold 6,294 shares of the company’s stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $20.87, for a total value of $131,355.78. Following the transaction, the insider now directly owns 21,996 shares in the company, valued at approximately $459,056.52. This represents a 22.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,878 shares of company stock worth $399,765 in the last ninety days. Insiders own 1.90% of the company’s stock.

Ultra Clean Profile

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.