Truvestments Capital LLC Lowers Stock Position in Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

Truvestments Capital LLC trimmed its holdings in Ultra Clean Holdings, Inc. (NASDAQ:UCTT) by 14.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,218 shares of the semiconductor company’s stock after selling 1,262 shares during the quarter. Truvestments Capital LLC’s holdings in Ultra Clean were worth $288,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of UCTT. GAMMA Investing LLC increased its stake in Ultra Clean by 52.1% in the second quarter. GAMMA Investing LLC now owns 622 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 213 shares during the period. CWM LLC raised its stake in Ultra Clean by 46.3% during the 2nd quarter. CWM LLC now owns 800 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 253 shares during the last quarter. Truist Financial Corp lifted its position in Ultra Clean by 4.6% during the 2nd quarter. Truist Financial Corp now owns 7,080 shares of the semiconductor company’s stock worth $347,000 after acquiring an additional 310 shares during the period. SummerHaven Investment Management LLC lifted its position in Ultra Clean by 1.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 19,993 shares of the semiconductor company’s stock worth $980,000 after acquiring an additional 331 shares during the period. Finally, Louisiana State Employees Retirement System grew its stake in shares of Ultra Clean by 1.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 22,600 shares of the semiconductor company’s stock valued at $1,107,000 after purchasing an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 96.06% of the company’s stock.

Insiders Place Their Bets

In other news, COO Harjinder Bajwa purchased 2,500 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were acquired at an average price of $33.33 per share, for a total transaction of $83,325.00. Following the acquisition, the chief operating officer now directly owns 29,291 shares in the company, valued at approximately $976,269.03. The trade was a 9.33 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey L. Mckibben sold 3,422 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $38.20, for a total value of $130,720.40. Following the completion of the transaction, the insider now directly owns 18,805 shares of the company’s stock, valued at $718,351. The trade was a 15.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 27,500 shares of company stock worth $943,275. 2.20% of the stock is owned by company insiders.

Ultra Clean Trading Up 3.1 %

Shares of UCTT stock opened at $38.45 on Tuesday. The business’s fifty day moving average price is $36.63 and its 200 day moving average price is $41.31. The firm has a market capitalization of $1.73 billion, a PE ratio of 480.69 and a beta of 2.08. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.75 and a quick ratio of 1.63. Ultra Clean Holdings, Inc. has a 1-year low of $26.25 and a 1-year high of $56.47.

Ultra Clean (NASDAQ:UCTT) last issued its earnings results on Monday, October 28th. The semiconductor company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.33 by $0.02. The company had revenue of $540.40 million for the quarter, compared to analyst estimates of $515.88 million. Ultra Clean had a net margin of 0.18% and a return on equity of 4.08%. The business’s revenue was up 24.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.03) EPS. As a group, sell-side analysts forecast that Ultra Clean Holdings, Inc. will post 1.09 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on UCTT shares. TD Cowen decreased their price target on Ultra Clean from $60.00 to $57.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. Oppenheimer began coverage on shares of Ultra Clean in a research report on Wednesday, September 25th. They set an “outperform” rating and a $70.00 price objective for the company. Finally, Needham & Company LLC lowered their target price on shares of Ultra Clean from $50.00 to $44.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $57.75.

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.