Ultra Clean Holdings, Inc. (NASDAQ:UCTT) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. grew its stake in Ultra Clean Holdings, Inc. (NASDAQ:UCTT) by 6.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 57,825 shares of the semiconductor company’s stock after purchasing an additional 3,681 shares during the quarter. Victory Capital Management Inc.’s holdings in Ultra Clean were worth $2,309,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of UCTT. Vaughan Nelson Investment Management L.P. lifted its holdings in Ultra Clean by 6.4% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 860,798 shares of the semiconductor company’s stock worth $42,179,000 after buying an additional 52,075 shares during the last quarter. Comerica Bank raised its position in shares of Ultra Clean by 512.5% during the 1st quarter. Comerica Bank now owns 134,289 shares of the semiconductor company’s stock valued at $6,169,000 after acquiring an additional 112,366 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in Ultra Clean by 130.1% during the third quarter. Harbor Capital Advisors Inc. now owns 367,212 shares of the semiconductor company’s stock worth $14,663,000 after purchasing an additional 207,633 shares during the last quarter. Moloney Securities Asset Management LLC acquired a new position in Ultra Clean in the third quarter worth $1,048,000. Finally, Assenagon Asset Management S.A. increased its stake in Ultra Clean by 454.2% during the third quarter. Assenagon Asset Management S.A. now owns 335,096 shares of the semiconductor company’s stock valued at $13,380,000 after purchasing an additional 274,628 shares during the last quarter. Institutional investors own 96.06% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Needham & Company LLC decreased their price target on shares of Ultra Clean from $50.00 to $44.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. Oppenheimer began coverage on Ultra Clean in a report on Wednesday, September 25th. They set an “outperform” rating and a $70.00 target price for the company. Finally, TD Cowen cut their price target on Ultra Clean from $60.00 to $57.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Ultra Clean currently has an average rating of “Buy” and a consensus target price of $57.75.

Ultra Clean Price Performance

Shares of NASDAQ:UCTT opened at $37.30 on Monday. The firm’s 50 day moving average is $36.63 and its two-hundred day moving average is $41.31. The firm has a market capitalization of $1.68 billion, a P/E ratio of 466.31 and a beta of 2.08. The company has a current ratio of 2.75, a quick ratio of 1.63 and a debt-to-equity ratio of 0.52. Ultra Clean Holdings, Inc. has a 52 week low of $26.25 and a 52 week 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 for the quarter, beating the consensus estimate of $0.33 by $0.02. Ultra Clean had a return on equity of 4.08% and a net margin of 0.18%. The firm had revenue of $540.40 million for the quarter, compared to the consensus estimate of $515.88 million. During the same quarter in the previous year, the business earned ($0.03) EPS. The firm’s revenue for the quarter was up 24.2% on a year-over-year basis. Analysts anticipate that Ultra Clean Holdings, Inc. will post 1.09 earnings per share for the current year.

Insider Activity at Ultra Clean

In other news, COO Harjinder Bajwa purchased 2,500 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was purchased at an average cost of $33.33 per share, with a total value of $83,325.00. Following the purchase, the chief operating officer now owns 29,291 shares in the company, valued at $976,269.03. This trade represents a 9.33 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jeffrey L. Mckibben sold 3,422 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $38.20, for a total value of $130,720.40. Following the completion of the sale, the insider now directly owns 18,805 shares in the company, valued at $718,351. This represents a 15.40 % decrease in their position. The disclosure for this sale can be found here. Insiders purchased 27,500 shares of company stock worth $943,275 in the last 90 days. Corporate insiders own 2.20% of the company’s stock.

About Ultra Clean

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.