Stoneridge Investment Partners LLC Boosts Stock Position in Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

Stoneridge Investment Partners LLC boosted its stake in shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT) by 18.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 6,278 shares of the semiconductor company’s stock after purchasing an additional 975 shares during the period. Stoneridge Investment Partners LLC’s holdings in Ultra Clean were worth $226,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in shares of Ultra Clean by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,047,719 shares of the semiconductor company’s stock worth $41,843,000 after purchasing an additional 10,501 shares during the last quarter. Royce & Associates LP increased its stake in Ultra Clean by 7.5% during the 3rd quarter. Royce & Associates LP now owns 908,697 shares of the semiconductor company’s stock worth $36,284,000 after buying an additional 63,301 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Ultra Clean by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 647,288 shares of the semiconductor company’s stock valued at $25,846,000 after acquiring an additional 18,000 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Ultra Clean by 27.9% in the third quarter. JPMorgan Chase & Co. now owns 506,107 shares of the semiconductor company’s stock valued at $20,209,000 after acquiring an additional 110,403 shares in the last quarter. Finally, Pinnacle Associates Ltd. boosted its stake in shares of Ultra Clean by 2.1% in the third quarter. Pinnacle Associates Ltd. now owns 420,709 shares of the semiconductor company’s stock worth $16,799,000 after acquiring an additional 8,471 shares during the last quarter. 96.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on UCTT shares. TD Cowen reduced their price objective on Ultra Clean from $60.00 to $57.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Needham & Company LLC reduced their target price 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.

Ultra Clean Stock Performance

Shares of Ultra Clean stock opened at $37.36 on Friday. The business’s 50 day moving average price is $37.24 and its 200 day moving average price is $37.25. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 467.06, a PEG ratio of 0.51 and a beta of 2.09. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.63 and a current ratio of 2.75. Ultra Clean Holdings, Inc. has a one year low of $32.08 and a one year high of $56.47.

Insider Transactions at Ultra Clean

In other news, COO Harjinder Bajwa acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average cost of $33.75 per share, for a total transaction of $337,500.00. Following the completion of the transaction, the chief operating officer now owns 54,291 shares in the company, valued at approximately $1,832,321.25. This trade represents a 22.58 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.20% of the company’s stock.

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.