Bank of New York Mellon Corp Sells 191,319 Shares of Ultra Clean Holdings, Inc. $UCTT

Bank of New York Mellon Corp lessened its holdings in Ultra Clean Holdings, Inc. (NASDAQ:UCTT) by 30.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 443,653 shares of the semiconductor company’s stock after selling 191,319 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.99% of Ultra Clean worth $27,586,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in UCTT. Quadrant Capital Group LLC lifted its position in Ultra Clean by 40.3% in the 4th quarter. Quadrant Capital Group LLC now owns 989 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 284 shares in the last quarter. Danske Bank A S lifted its position in shares of Ultra Clean by 450.0% in the fourth quarter. Danske Bank A S now owns 1,100 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 900 shares during the last quarter. AdvisorNet Financial Inc acquired a new position in shares of Ultra Clean in the first quarter valued at $34,000. Smartleaf Asset Management LLC increased its stake in shares of Ultra Clean by 472.9% during the second quarter. Smartleaf Asset Management LLC now owns 1,713 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 1,414 shares during the period. Finally, Advisory Services Network LLC bought a new stake in shares of Ultra Clean in the third quarter valued at about $45,000. 96.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Emily M. Liggett sold 8,198 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $92.18, for a total value of $755,691.64. Following the completion of the sale, the director directly owned 38,152 shares in the company, valued at approximately $3,516,851.36. The trade was a 17.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jamie J. Palfrey sold 8,691 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $79.72, for a total value of $692,846.52. Following the transaction, the senior vice president directly owned 16,446 shares in the company, valued at $1,311,075.12. This trade represents a 34.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 80,106 shares of company stock worth $6,734,589 over the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on UCTT shares. UBS Group started coverage on shares of Ultra Clean in a report on Tuesday, May 5th. They issued a “buy” rating and a $130.00 target price on the stock. TD Cowen boosted their target price on shares of Ultra Clean from $100.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Needham & Company LLC upped their target price on Ultra Clean from $70.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Weiss Ratings lowered Ultra Clean from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday. Finally, Zacks Research upgraded shares of Ultra Clean from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 25th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $113.40.

Ultra Clean Price Performance

Shares of NASDAQ:UCTT opened at $86.97 on Tuesday. The company’s 50-day moving average is $100.69 and its 200 day moving average is $74.89. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.72 and a current ratio of 3.07. Ultra Clean Holdings, Inc. has a fifty-two week low of $21.28 and a fifty-two week high of $144.22. The company has a market capitalization of $3.90 billion, a P/E ratio of -20.27, a price-to-earnings-growth ratio of 1.24 and a beta of 1.83.

Ultra Clean (NASDAQ:UCTT) last announced its quarterly earnings results on Tuesday, April 28th. The semiconductor company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. Ultra Clean had a negative net margin of 9.38% and a positive return on equity of 4.28%. The company had revenue of $533.70 million for the quarter, compared to analysts’ expectations of $525.28 million. During the same period in the prior year, the company posted $0.28 EPS. Ultra Clean’s revenue was up 2.9% compared to the same quarter last year. On average, equities research analysts forecast that Ultra Clean Holdings, Inc. will post 2.14 earnings per share for the current year.

Ultra Clean Company Profile

Ultra Clean Holdings, Inc is a global supplier of critical consumables and process tools for the semiconductor manufacturing industry. The company specializes in precision parts cleaning, chemical–mechanical planarization (CMP) slurries, surface conditioning pads, and specialty components used in wafer fabrication and advanced packaging. Ultra Clean also provides assembly and test hardware, tooling, and automated modules designed to support complex front-end and back-end processes in semiconductor fabs.

Ultra Clean’s product portfolio encompasses a range of cleaning systems and consumables aimed at particle and film removal, as well as CMP slurries and pads that are engineered for uniform material removal and planarization.