1620 Investment Advisors Inc. Sells 948 Shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

1620 Investment Advisors Inc. decreased its holdings in Ultra Clean Holdings, Inc. (NASDAQ:UCTT) by 31.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,073 shares of the semiconductor company’s stock after selling 948 shares during the quarter. 1620 Investment Advisors Inc.’s holdings in Ultra Clean were worth $83,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. GAMMA Investing LLC raised its position in Ultra Clean by 52.1% in the second quarter. GAMMA Investing LLC now owns 622 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 213 shares in the last quarter. CWM LLC grew its stake in shares of Ultra Clean by 46.3% in the 2nd quarter. CWM LLC now owns 800 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 253 shares during the period. Signaturefd LLC raised its holdings in shares of Ultra Clean by 465.5% in the 3rd quarter. Signaturefd LLC now owns 803 shares of the semiconductor company’s stock worth $32,000 after buying an additional 661 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Ultra Clean during the 2nd quarter worth approximately $41,000. Finally, nVerses Capital LLC acquired a new stake in Ultra Clean in the 2nd quarter valued at $64,000. 96.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

UCTT has been the subject of a number of analyst reports. Oppenheimer began coverage on Ultra Clean in a report on Wednesday, September 25th. They set an “outperform” rating and a $70.00 price objective for the company. TD Cowen cut their price target on shares of Ultra Clean from $60.00 to $57.00 and set a “buy” rating for the company in a report on Tuesday. Needham & Company LLC decreased their price objective on shares of Ultra Clean from $50.00 to $44.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Craig Hallum raised their price objective on shares of Ultra Clean from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $57.75.

Ultra Clean Stock Performance

Ultra Clean stock opened at $35.88 on Thursday. The stock has a 50-day simple moving average of $36.60 and a 200 day simple moving average of $42.03. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of -43.76 and a beta of 2.08. The company has a quick ratio of 1.60, a current ratio of 2.73 and a debt-to-equity ratio of 0.52. Ultra Clean Holdings, Inc. has a 12-month low of $23.41 and a 12-month high of $56.47.

Ultra Clean (NASDAQ:UCTT) last announced its earnings results on Monday, October 28th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 negative net margin of 0.46% and a positive return on equity of 2.59%. Ultra Clean’s quarterly revenue was up 24.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.03) earnings per share. On average, research analysts anticipate that Ultra Clean Holdings, Inc. will post 1.1 earnings per share for the current fiscal year.

Ultra Clean 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.