Ultra Clean Holdings, Inc. (NASDAQ:UCTT) Position Increased by Algert Global LLC

Algert Global LLC raised its stake in Ultra Clean Holdings, Inc. (NASDAQ:UCTT) by 424.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 85,064 shares of the semiconductor company’s stock after buying an additional 68,830 shares during the period. Algert Global LLC’s holdings in Ultra Clean were worth $3,397,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. GAMMA Investing LLC grew its holdings in shares of Ultra Clean by 52.1% in the 2nd quarter. GAMMA Investing LLC now owns 622 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 213 shares during the last quarter. CWM LLC boosted its position 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. Truist Financial Corp increased its stake in Ultra Clean by 4.6% in the 2nd quarter. Truist Financial Corp now owns 7,080 shares of the semiconductor company’s stock worth $347,000 after purchasing an additional 310 shares in the last quarter. SummerHaven Investment Management LLC raised its holdings in Ultra Clean by 1.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 19,993 shares of the semiconductor company’s stock worth $980,000 after buying an additional 331 shares during the period. Finally, Louisiana State Employees Retirement System lifted its stake in Ultra Clean by 1.8% during the second quarter. Louisiana State Employees Retirement System now owns 22,600 shares of the semiconductor company’s stock valued at $1,107,000 after buying an additional 400 shares in the last quarter. Institutional investors and hedge funds own 96.06% of the company’s stock.

Insider Buying and Selling at Ultra Clean

In other Ultra Clean news, COO Harjinder Bajwa bought 2,500 shares of Ultra Clean stock in a transaction on Thursday, October 31st. The stock was purchased at an average cost of $33.33 per share, for a total transaction of $83,325.00. Following the completion of the purchase, the chief operating officer now directly owns 29,291 shares of the company’s stock, valued at $976,269.03. The trade was a 9.33 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $130,720.40. Following the completion of the sale, the insider now owns 18,805 shares of the company’s stock, valued at $718,351. This represents a 15.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have bought 27,500 shares of company stock worth $943,275 over the last 90 days. 2.20% of the stock is currently owned by corporate insiders.

Ultra Clean Price Performance

NASDAQ UCTT opened at $38.45 on Tuesday. The company has a 50 day simple moving average of $36.63 and a 200-day simple moving average of $41.31. Ultra Clean Holdings, Inc. has a 52-week low of $26.25 and a 52-week high of $56.47. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 480.69 and a beta of 2.08. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.75 and a quick ratio of 1.63.

Ultra Clean (NASDAQ:UCTT) last issued its earnings results on Monday, October 28th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. Ultra Clean had a net margin of 0.18% and a return on equity of 4.08%. The company had revenue of $540.40 million during the quarter, compared to analyst estimates of $515.88 million. During the same quarter last year, the business posted ($0.03) EPS. The company’s revenue for the quarter was up 24.2% on a year-over-year basis. Equities research analysts predict that Ultra Clean Holdings, Inc. will post 1.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on UCTT. TD Cowen cut their price target 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. Oppenheimer assumed coverage on shares of Ultra Clean in a research report on Wednesday, September 25th. They set an “outperform” rating and a $70.00 price objective on the stock. Finally, Needham & Company LLC reduced their target price on Ultra Clean from $50.00 to $44.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $57.75.

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.