Deutsche Bank AG trimmed its position in Ultra Clean Holdings, Inc. (NASDAQ:UCTT – Free Report) by 3.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 113,934 shares of the semiconductor company’s stock after selling 3,561 shares during the quarter. Deutsche Bank AG owned 0.25% of Ultra Clean worth $2,439,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in UCTT. Envestnet Asset Management Inc. bought a new stake in Ultra Clean during the fourth quarter worth $1,126,000. Bank of Montreal Can lifted its stake in Ultra Clean by 6.4% during the fourth quarter. Bank of Montreal Can now owns 7,957 shares of the semiconductor company’s stock worth $286,000 after purchasing an additional 478 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Ultra Clean during the fourth quarter worth $3,988,000. Barclays PLC lifted its stake in Ultra Clean by 172.2% during the fourth quarter. Barclays PLC now owns 227,502 shares of the semiconductor company’s stock worth $8,178,000 after purchasing an additional 143,925 shares during the last quarter. Finally, Mariner LLC bought a new stake in Ultra Clean during the fourth quarter worth $210,000. 96.06% of the stock is currently owned by institutional investors.
Ultra Clean Stock Performance
NASDAQ UCTT opened at $22.34 on Thursday. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of -6.61, a PEG ratio of 0.90 and a beta of 1.99. Ultra Clean Holdings, Inc. has a twelve month low of $16.66 and a twelve month high of $41.90. The stock has a fifty day simple moving average of $23.17 and a 200 day simple moving average of $23.90. The company has a quick ratio of 1.86, a current ratio of 3.06 and a debt-to-equity ratio of 0.59.
Insiders Place Their Bets
In related news, General Counsel Paul Yoonku Cho sold 4,084 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $21.06, for a total value of $86,009.04. Following the completion of the sale, the general counsel directly owned 23,345 shares in the company, valued at $491,645.70. This represents a 14.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jeffrey L. Mckibben sold 6,294 shares of the 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 owned 21,996 shares of the company’s stock, valued at $459,056.52. The trade was a 22.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.
Wall Street Analysts Forecast Growth
UCTT has been the subject of several recent analyst reports. TD Cowen cut their target price on Ultra Clean from $48.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday, April 29th. Wall Street Zen cut Ultra Clean from a “hold” rating to a “sell” rating in a research note on Wednesday, April 30th. Finally, Needham & Company LLC increased their price target on Ultra Clean from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $30.67.
Read Our Latest Report on Ultra Clean
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.
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