Ultra Clean Holdings, Inc. (NASDAQ:UCTT) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. raised its stake in Ultra Clean Holdings, Inc. (NASDAQ:UCTT) by 2.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 224,935 shares of the semiconductor company’s stock after purchasing an additional 5,114 shares during the quarter. Principal Financial Group Inc. owned about 0.50% of Ultra Clean worth $4,816,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Janney Montgomery Scott LLC boosted its stake in Ultra Clean by 5.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 21,288 shares of the semiconductor company’s stock valued at $456,000 after acquiring an additional 1,068 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Ultra Clean by 2,272.9% during the first quarter. GAMMA Investing LLC now owns 29,139 shares of the semiconductor company’s stock valued at $624,000 after purchasing an additional 27,911 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Ultra Clean by 444.3% in the 1st quarter. Farther Finance Advisors LLC now owns 12,034 shares of the semiconductor company’s stock worth $253,000 after purchasing an additional 9,823 shares during the last quarter. Bank of America Corp DE grew its position in shares of Ultra Clean by 32.7% during the fourth quarter. Bank of America Corp DE now owns 161,828 shares of the semiconductor company’s stock worth $5,818,000 after acquiring an additional 39,879 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Ultra Clean in the 4th quarter worth about $3,988,000. 96.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on UCTT. Needham & Company LLC decreased their price objective on shares of Ultra Clean from $40.00 to $26.00 and set a “buy” rating for the company in a report on Tuesday, April 29th. Wall Street Zen downgraded Ultra Clean from a “hold” rating to a “sell” rating in a research note on Wednesday, April 30th. TD Cowen decreased their target price on Ultra Clean from $48.00 to $32.00 and set a “buy” rating on the stock in a research report on Tuesday, April 29th. Finally, Oppenheimer decreased their price objective on shares of Ultra Clean from $60.00 to $30.00 and set an “outperform” rating on the stock in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

Insider Buying and Selling at Ultra Clean

In related news, SVP Jamie J. Palfrey sold 9,500 shares of the business’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $19.20, for a total transaction of $182,400.00. Following the completion of the transaction, the senior vice president directly owned 30,465 shares in the company, valued at $584,928. The trade was a 23.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey L. Mckibben sold 6,294 shares of the business’s stock in a transaction dated 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 owned 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 over the last ninety days. 1.90% of the stock is currently owned by company insiders.

Ultra Clean Stock Performance

Shares of NASDAQ UCTT opened at $25.98 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.03 and a quick ratio of 1.83. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 41.90, a P/E/G ratio of 0.99 and a beta of 2.07. Ultra Clean Holdings, Inc. has a one year low of $16.66 and a one year high of $54.00. The stock’s fifty day moving average price is $22.00 and its two-hundred day moving average price is $26.17.

Ultra Clean (NASDAQ:UCTT) last announced its quarterly earnings results on Monday, April 28th. The semiconductor company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.03). Ultra Clean had a net margin of 1.31% and a return on equity of 5.50%. The firm had revenue of $518.60 million for the quarter, compared to analyst estimates of $526.13 million. During the same period in the previous year, the business posted $0.27 earnings per share. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, equities analysts forecast that Ultra Clean Holdings, Inc. will post 1.09 EPS for the current year.

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.