Ultra Clean Holdings, Inc. (NASDAQ:UCTT) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lowered its stake in Ultra Clean Holdings, Inc. (NASDAQ:UCTT) by 1.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 126,098 shares of the semiconductor company’s stock after selling 1,615 shares during the period. Rhumbline Advisers owned approximately 0.28% of Ultra Clean worth $2,700,000 at the end of the most recent reporting period.

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

Ultra Clean Trading Down 6.5%

Shares of UCTT stock opened at $19.87 on Monday. Ultra Clean Holdings, Inc. has a fifty-two week low of $16.66 and a fifty-two week high of $56.47. The stock has a market cap of $897.11 million, a P/E ratio of 248.41, a P/E/G ratio of 0.51 and a beta of 2.05. The business has a fifty day simple moving average of $20.42 and a 200-day simple moving average of $28.39. The company has a quick ratio of 1.63, a current ratio of 2.75 and a debt-to-equity ratio of 0.52.

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

Insider Activity

In other news, SVP Jamie J. Palfrey sold 9,500 shares of the company’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $19.20, for a total value of $182,400.00. Following the sale, the senior vice president now directly owns 30,465 shares in the company, valued at $584,928. This represents a 23.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey L. Mckibben sold 6,294 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 21,996 shares in the company, valued at $459,056.52. This represents a 22.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,878 shares of company stock worth $399,765 over the last 90 days. 1.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

About Ultra Clean

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.