Quantbot Technologies LP Boosts Stock Position in Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

Quantbot Technologies LP grew its holdings in Ultra Clean Holdings, Inc. (NASDAQ:UCTT) by 1,783.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,788 shares of the semiconductor company’s stock after purchasing an additional 37,676 shares during the period. Quantbot Technologies LP owned about 0.09% of Ultra Clean worth $1,589,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of UCTT. Vaughan Nelson Investment Management L.P. lifted its holdings in Ultra Clean by 6.4% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 860,798 shares of the semiconductor company’s stock valued at $42,179,000 after buying an additional 52,075 shares in the last quarter. Comerica Bank raised its stake in shares of Ultra Clean by 512.5% during the first quarter. Comerica Bank now owns 134,289 shares of the semiconductor company’s stock valued at $6,169,000 after acquiring an additional 112,366 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of Ultra Clean by 130.1% in the third quarter. Harbor Capital Advisors Inc. now owns 367,212 shares of the semiconductor company’s stock valued at $14,663,000 after purchasing an additional 207,633 shares during the period. Moloney Securities Asset Management LLC bought a new position in Ultra Clean in the third quarter worth approximately $1,048,000. Finally, Assenagon Asset Management S.A. increased its holdings in Ultra Clean by 454.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 335,096 shares of the semiconductor company’s stock worth $13,380,000 after purchasing an additional 274,628 shares during the period. Hedge funds and other institutional investors own 96.06% of the company’s stock.

Insider Activity at Ultra Clean

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

Ultra Clean Trading Up 2.7 %

NASDAQ UCTT opened at $38.43 on Friday. Ultra Clean Holdings, Inc. has a 52 week low of $26.50 and a 52 week high of $56.47. The company has a 50 day moving average price of $36.92 and a 200 day moving average price of $41.17. The company has a quick ratio of 1.63, a current ratio of 2.75 and a debt-to-equity ratio of 0.52. The firm has a market cap of $1.73 billion, a PE ratio of 467.68 and a beta of 2.08.

Ultra Clean (NASDAQ:UCTT) last announced its earnings results on Monday, October 28th. The semiconductor company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. Ultra Clean had a return on equity of 4.08% and a net margin of 0.18%. The firm had revenue of $540.40 million for the quarter, compared to the consensus estimate of $515.88 million. The firm’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same period in the previous year, the business 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

A number of analysts recently weighed in on the stock. Oppenheimer initiated coverage on shares of Ultra Clean in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $70.00 price objective for the company. Needham & Company LLC lowered their price target on shares of Ultra Clean from $50.00 to $44.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Finally, TD Cowen cut their price objective on shares of Ultra Clean from $60.00 to $57.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target 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.