NJ State Employees Deferred Compensation Plan decreased its position in Ultra Clean Holdings Inc (NASDAQ:UCTT) by 42.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,000 shares of the semiconductor company’s stock after selling 18,000 shares during the quarter. NJ State Employees Deferred Compensation Plan’s holdings in Ultra Clean were worth $334,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of UCTT. Peregrine Capital Management LLC purchased a new position in shares of Ultra Clean during the first quarter valued at about $7,755,000. Frontier Capital Management Co. LLC grew its holdings in Ultra Clean by 61.1% in the first quarter. Frontier Capital Management Co. LLC now owns 1,879,990 shares of the semiconductor company’s stock worth $19,458,000 after purchasing an additional 713,277 shares during the period. Royce & Associates LP grew its holdings in Ultra Clean by 37.7% in the first quarter. Royce & Associates LP now owns 1,423,616 shares of the semiconductor company’s stock worth $14,734,000 after purchasing an additional 389,880 shares during the period. Deutsche Bank AG grew its holdings in Ultra Clean by 18.2% in the fourth quarter. Deutsche Bank AG now owns 1,201,703 shares of the semiconductor company’s stock worth $10,177,000 after purchasing an additional 184,628 shares during the period. Finally, THB Asset Management grew its holdings in Ultra Clean by 56.5% in the first quarter. THB Asset Management now owns 475,380 shares of the semiconductor company’s stock worth $4,920,000 after purchasing an additional 171,703 shares during the period. 90.54% of the stock is currently owned by institutional investors.
In related news, Director Clarence L. Granger acquired 21,000 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were bought at an average price of $13.49 per share, for a total transaction of $283,290.00. Following the completion of the transaction, the director now directly owns 170,098 shares in the company, valued at $2,294,622.02. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Clarence L. Granger acquired 22,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were bought at an average price of $14.11 per share, for a total transaction of $310,420.00. Following the transaction, the director now owns 127,098 shares of the company’s stock, valued at $1,793,352.78. The disclosure for this purchase can be found here. Corporate insiders own 1.80% of the company’s stock.
A number of equities research analysts have weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $17.00 price objective on shares of Ultra Clean in a report on Monday. Zacks Investment Research downgraded shares of Ultra Clean from a “hold” rating to a “sell” rating in a research note on Saturday, July 27th. ValuEngine upgraded shares of Ultra Clean from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Cowen reiterated an “outperform” rating and issued a $20.00 target price (up previously from $16.00) on shares of Ultra Clean in a research note on Friday, May 3rd. Finally, BidaskClub downgraded shares of Ultra Clean from a “buy” rating to a “hold” rating in a research note on Saturday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. Ultra Clean presently has a consensus rating of “Buy” and an average target price of $17.63.
Shares of NASDAQ UCTT traded down $0.71 during midday trading on Monday, hitting $13.52. The stock had a trading volume of 14,526 shares, compared to its average volume of 415,720. The firm’s 50 day moving average is $13.88. The stock has a market cap of $559.72 million, a P/E ratio of 8.18, a P/E/G ratio of 1.21 and a beta of 1.06. Ultra Clean Holdings Inc has a 52 week low of $6.94 and a 52 week high of $15.94. The company has a current ratio of 2.93, a quick ratio of 1.88 and a debt-to-equity ratio of 0.78.
Ultra Clean (NASDAQ:UCTT) last issued its earnings results on Wednesday, July 31st. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.03. The firm had revenue of $265.40 million for the quarter, compared to the consensus estimate of $255.42 million. Ultra Clean had a negative net margin of 0.66% and a positive return on equity of 8.16%. The business’s revenue was down 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.55 earnings per share. Sell-side analysts expect that Ultra Clean Holdings Inc will post 0.8 earnings per share for the current fiscal year.
About Ultra Clean
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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