Ultra Clean Holdings, Inc. (NASDAQ:UCTT) Stock Position Reduced by Fmr LLC

Fmr LLC trimmed its position in Ultra Clean Holdings, Inc. (NASDAQ:UCTT) by 18.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,394,682 shares of the semiconductor company’s stock after selling 322,004 shares during the quarter. Fmr LLC owned approximately 3.10% of Ultra Clean worth $55,690,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in Ultra Clean by 52.1% in the second quarter. GAMMA Investing LLC now owns 622 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 213 shares during the period. CWM LLC grew its position in shares of Ultra Clean by 46.3% during the 2nd quarter. CWM LLC now owns 800 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 253 shares during the last quarter. Signaturefd LLC raised its stake in Ultra Clean by 465.5% during the third quarter. Signaturefd LLC now owns 803 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 661 shares during the period. Innealta Capital LLC acquired a new stake in Ultra Clean during the second quarter worth about $41,000. Finally, nVerses Capital LLC bought a new position in Ultra Clean in the second quarter worth about $64,000. 96.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Needham & Company LLC dropped their price target on Ultra Clean from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Oppenheimer began coverage on Ultra Clean in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $70.00 target price on the stock. Finally, TD Cowen lowered their price target on shares of Ultra Clean from $60.00 to $57.00 and set a “buy” rating for the company in a research 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 has a consensus rating of “Buy” and an average target price of $57.75.

Ultra Clean Price Performance

Shares of UCTT opened at $38.08 on Friday. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 476.06 and a beta of 2.09. The stock’s fifty day moving average is $37.15 and its 200-day moving average is $40.93. Ultra Clean Holdings, Inc. has a one year low of $27.58 and a one year high of $56.47. 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 (NASDAQ:UCTT) last issued its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.35 earnings per share for the quarter, topping 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 period in the prior year, the business posted ($0.03) EPS. The business’s revenue for the quarter was up 24.2% compared to the same quarter last year. Equities analysts anticipate that Ultra Clean Holdings, Inc. will post 1.09 EPS for the current year.

Insider Activity

In other Ultra Clean news, COO Harjinder Bajwa bought 2,500 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were acquired at an average cost of $33.33 per share, for a total transaction of $83,325.00. Following the acquisition, the chief operating officer now directly owns 29,291 shares of the company’s stock, valued at $976,269.03. This trade represents a 9.33 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jeffrey L. Mckibben sold 3,422 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 18,805 shares of the company’s stock, valued at $718,351. The trade was a 15.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 27,500 shares of company stock worth $943,275. 2.20% of the stock is owned by company insiders.

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.