Russell Investments Group Ltd. grew its position in Ultra Clean Holdings Inc (NASDAQ:UCTT) by 278.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 129,027 shares of the semiconductor company’s stock after purchasing an additional 94,922 shares during the period. Russell Investments Group Ltd. owned about 0.33% of Ultra Clean worth $1,619,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of UCTT. Principal Financial Group Inc. grew its holdings in shares of Ultra Clean by 942.0% in the first quarter. Principal Financial Group Inc. now owns 329,444 shares of the semiconductor company’s stock valued at $6,342,000 after purchasing an additional 297,826 shares during the period. Bank of Montreal Can grew its holdings in shares of Ultra Clean by 1,910.6% in the second quarter. Bank of Montreal Can now owns 17,975 shares of the semiconductor company’s stock valued at $298,000 after purchasing an additional 17,081 shares during the period. Piedmont Investment Advisors LLC purchased a new stake in shares of Ultra Clean in the second quarter valued at about $150,000. Aperio Group LLC acquired a new position in Ultra Clean in the second quarter valued at about $205,000. Finally, TD Asset Management Inc. acquired a new position in Ultra Clean in the second quarter valued at about $2,261,000. 83.55% of the stock is currently owned by institutional investors.
A number of research analysts have commented on UCTT shares. TheStreet cut shares of Ultra Clean from a “b-” rating to a “c+” rating in a research report on Tuesday, October 9th. BidaskClub raised shares of Ultra Clean from a “strong sell” rating to a “sell” rating in a research report on Friday, November 2nd. Standpoint Research raised shares of Ultra Clean from a “hold” rating to a “buy” rating in a research report on Tuesday, August 28th. Cowen decreased their target price on shares of Ultra Clean from $28.00 to $23.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 18th. Finally, Zacks Investment Research raised shares of Ultra Clean from a “strong sell” rating to a “hold” rating in a research report on Friday, October 5th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. Ultra Clean has a consensus rating of “Hold” and an average target price of $23.20.
Shares of UCTT opened at $9.22 on Friday. The stock has a market cap of $362.83 million, a PE ratio of 3.94, a price-to-earnings-growth ratio of 0.37 and a beta of 0.72. Ultra Clean Holdings Inc has a 1 year low of $8.45 and a 1 year high of $27.20. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.63 and a current ratio of 2.76.
Ultra Clean (NASDAQ:UCTT) last issued its quarterly earnings results on Tuesday, November 6th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.30. The business had revenue of $234.08 million for the quarter, compared to analysts’ expectations of $224.06 million. Ultra Clean had a net margin of 5.38% and a return on equity of 19.76%. The business’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.62 earnings per share. As a group, analysts predict that Ultra Clean Holdings Inc will post 1.81 EPS for the current year.
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Ultra Clean Company Profile
Ultra Clean Holdings, Inc designs, develops, prototypes, engineers, manufactures, and tests production tools, modules, and subsystems for the semiconductor and display capital equipment industries primarily in North America, Asia, and Europe. It offers precision robotic systems that are used when accurate controlled motion is required; gas delivery systems, which include one or more gas lines consisting of small diameter internally polished stainless steel tubing products, filters, mass flow controllers, regulators, pressure transducers and valves, component heaters, and an integrated electronic and/or pneumatic control system; and various industrial and automation production equipment products.
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