Envestnet Asset Management Inc. Raises Holdings in Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

Envestnet Asset Management Inc. boosted its holdings in shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT) by 20.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,743 shares of the semiconductor company’s stock after buying an additional 6,408 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.08% of Ultra Clean worth $808,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Byrne Asset Management LLC purchased a new position in Ultra Clean in the first quarter worth $25,000. Headlands Technologies LLC purchased a new position in Ultra Clean in the fourth quarter worth $26,000. Versant Capital Management Inc grew its holdings in Ultra Clean by 386.9% in the first quarter. Versant Capital Management Inc now owns 1,412 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 1,122 shares during the last quarter. Quarry LP grew its holdings in Ultra Clean by 58.1% in the fourth quarter. Quarry LP now owns 1,913 shares of the semiconductor company’s stock worth $69,000 after purchasing an additional 703 shares during the last quarter. Finally, Palouse Capital Management Inc. grew its holdings in Ultra Clean by 45.0% in the first quarter. Palouse Capital Management Inc. now owns 8,254 shares of the semiconductor company’s stock worth $177,000 after purchasing an additional 2,562 shares during the last quarter. 96.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Jamie J. Palfrey sold 9,500 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $19.20, for a total value of $182,400.00. Following the completion of the sale, the senior vice president owned 30,465 shares of the company’s stock, valued at $584,928. This represents a 23.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Paul Yoonku Cho sold 4,084 shares of the firm’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $21.06, for a total transaction of $86,009.04. Following the completion of the transaction, the general counsel directly owned 23,345 shares of the company’s stock, valued at $491,645.70. This represents a 14.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,878 shares of company stock valued at $399,765 in the last 90 days. Company insiders own 1.90% of the company’s stock.

Ultra Clean Stock Down 1.0%

UCTT stock opened at $22.30 on Monday. The stock has a market capitalization of $1.01 billion, a P/E ratio of -6.60, a P/E/G ratio of 0.87 and a beta of 1.99. The firm has a 50-day simple moving average of $22.56 and a 200-day simple moving average of $24.98. The company has a quick ratio of 1.86, a current ratio of 3.06 and a debt-to-equity ratio of 0.59. Ultra Clean Holdings, Inc. has a 52 week low of $16.66 and a 52 week high of $41.90.

Ultra Clean (NASDAQ:UCTT) last released its earnings results on Monday, July 28th. The semiconductor company reported $0.27 EPS for the quarter, hitting analysts’ consensus estimates of $0.27. Ultra Clean had a negative net margin of 7.15% and a positive return on equity of 5.32%. The business had revenue of $518.80 million during the quarter, compared to analysts’ expectations of $500.83 million. During the same quarter in the previous year, the company earned $0.32 earnings per share. The company’s quarterly revenue was up .5% on a year-over-year basis. Equities analysts forecast that Ultra Clean Holdings, Inc. will post 1.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Oppenheimer cut their price target on shares of Ultra Clean from $60.00 to $30.00 and set an “outperform” rating on the stock in a report on Friday, April 11th. TD Cowen dropped their price objective on shares of Ultra Clean from $48.00 to $32.00 and set a “buy” rating on the stock in a report on Tuesday, April 29th. Needham & Company LLC boosted their price objective on shares of Ultra Clean from $26.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Finally, Wall Street Zen lowered shares of Ultra Clean from a “hold” rating to a “sell” rating in a report on Wednesday, April 30th.

Ultra Clean Company 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.