Vanguard Group Inc. increased its stake in Ultra Clean Holdings, Inc. (NASDAQ:UCTT – Free Report) by 0.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,847,408 shares of the semiconductor company’s stock after acquiring an additional 12,180 shares during the quarter. Vanguard Group Inc. owned about 10.74% of Ultra Clean worth $103,783,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Janney Montgomery Scott LLC lifted its stake in shares of Ultra Clean by 5.3% in the first quarter. Janney Montgomery Scott LLC now owns 21,288 shares of the semiconductor company’s stock worth $456,000 after acquiring an additional 1,068 shares during the period. GAMMA Investing LLC lifted its stake in shares of Ultra Clean by 2,272.9% in the first quarter. GAMMA Investing LLC now owns 29,139 shares of the semiconductor company’s stock worth $624,000 after acquiring an additional 27,911 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Ultra Clean by 444.3% in the first quarter. Farther Finance Advisors LLC now owns 12,034 shares of the semiconductor company’s stock worth $253,000 after acquiring an additional 9,823 shares during the period. Bank of America Corp DE lifted its stake in shares of Ultra Clean by 32.7% in 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 period. Finally, Envestnet Asset Management Inc. acquired a new position in shares of Ultra Clean in the fourth quarter worth approximately $1,126,000. 96.06% of the stock is owned by institutional investors and hedge funds.
Ultra Clean Trading Up 5.5%
NASDAQ UCTT opened at $23.74 on Friday. The company has a market cap of $1.08 billion, a price-to-earnings ratio of -7.02, a P/E/G ratio of 0.88 and a beta of 1.99. Ultra Clean Holdings, Inc. has a 52 week low of $16.66 and a 52 week high of $41.90. The business has a 50 day moving average price of $23.27 and a 200-day moving average price of $23.71. The company has a quick ratio of 1.86, a current ratio of 3.06 and a debt-to-equity ratio of 0.59.
Insider Activity at Ultra Clean
In other news, insider Jeffrey L. Mckibben sold 6,294 shares of the business’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $20.87, for a total transaction of $131,355.78. Following the completion of the sale, the insider owned 21,996 shares in the company, valued at $459,056.52. The trade was a 22.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Paul Yoonku Cho sold 4,084 shares of the company’s 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 sale, the general counsel owned 23,345 shares of the company’s stock, valued at $491,645.70. This trade represents a 14.89% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.
Analysts Set New Price Targets
UCTT has been the topic of a number of recent analyst reports. Wall Street Zen lowered Ultra Clean from a “hold” rating to a “sell” rating in a research note on Wednesday, April 30th. TD Cowen dropped their price target on Ultra Clean from $48.00 to $32.00 and set a “buy” rating on the stock in a research note on Tuesday, April 29th. Finally, Needham & Company LLC boosted 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 analysts have rated the stock with a Buy rating, According to data from MarketBeat, Ultra Clean presently has a consensus rating of “Buy” and an average target price of $30.67.
View Our Latest Research Report on UCTT
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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