Ultra Clean Holdings, Inc. (NASDAQ:UCTT) Shares Sold by Meeder Asset Management Inc.

Meeder Asset Management Inc. cut its position in shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT) by 50.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 852 shares of the semiconductor company’s stock after selling 883 shares during the quarter. Meeder Asset Management Inc.’s holdings in Ultra Clean were worth $42,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Frontier Capital Management Co. LLC grew its holdings in Ultra Clean by 37.5% in the fourth quarter. Frontier Capital Management Co. LLC now owns 2,559,943 shares of the semiconductor company’s stock valued at $87,396,000 after purchasing an additional 698,242 shares during the period. Vaughan Nelson Investment Management L.P. grew its holdings in Ultra Clean by 6.4% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 860,798 shares of the semiconductor company’s stock valued at $42,179,000 after purchasing an additional 52,075 shares during the period. Comerica Bank grew its holdings in Ultra Clean by 512.5% in the first quarter. Comerica Bank now owns 134,289 shares of the semiconductor company’s stock valued at $6,169,000 after purchasing an additional 112,366 shares during the period. Versor Investments LP purchased a new stake in Ultra Clean in the second quarter valued at approximately $828,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Ultra Clean by 6.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 20,350 shares of the semiconductor company’s stock valued at $655,000 after purchasing an additional 1,303 shares during the period. 96.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on UCTT shares. Craig Hallum boosted their target price on shares of Ultra Clean from $52.00 to $60.00 and gave the company a “buy” rating in a report on Friday, July 26th. TD Cowen boosted their price objective on shares of Ultra Clean from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $56.00 price objective on shares of Ultra Clean in a research note on Friday, July 26th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.67.

Ultra Clean Price Performance

UCTT opened at $34.69 on Monday. The company has a quick ratio of 1.60, a current ratio of 2.73 and a debt-to-equity ratio of 0.52. Ultra Clean Holdings, Inc. has a 52-week low of $22.15 and a 52-week high of $56.47. The company has a 50 day moving average of $41.19 and a two-hundred day moving average of $43.81. The company has a market cap of $1.56 billion, a P/E ratio of -42.30 and a beta of 2.09.

Ultra Clean (NASDAQ:UCTT) last posted its earnings results on Thursday, July 25th. The semiconductor company reported $0.21 EPS for the quarter. Ultra Clean had a negative net margin of 0.46% and a positive return on equity of 2.59%. The business had revenue of $516.10 million for the quarter, compared to analysts’ expectations of $490.06 million. During the same period in the previous year, the company posted $0.16 earnings per share. The business’s revenue for the quarter was up 22.4% compared to the same quarter last year.

Insider Transactions at Ultra Clean

In other news, CFO Sheri Savage sold 897 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $55.87, for a total transaction of $50,115.39. Following the transaction, the chief financial officer now directly owns 51,678 shares of the company’s stock, valued at $2,887,249.86. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Sheri Savage sold 897 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $55.87, for a total transaction of $50,115.39. Following the transaction, the chief financial officer now directly owns 51,678 shares of the company’s stock, valued at $2,887,249.86. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO James P. Scholhamer sold 26,608 shares of the company’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $55.10, for a total transaction of $1,466,100.80. Following the completion of the sale, the chief executive officer now directly owns 418,453 shares in the company, valued at $23,056,760.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,266 shares of company stock valued at $2,556,853. Corporate insiders own 2.20% of the company’s stock.

Ultra Clean Company 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.