Meeder Asset Management Inc. Raises Stock Position in Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

Meeder Asset Management Inc. increased its stake in Ultra Clean Holdings, Inc. (NASDAQ:UCTT) by 306.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,466 shares of the semiconductor company’s stock after acquiring an additional 2,614 shares during the quarter. Meeder Asset Management Inc.’s holdings in Ultra Clean were worth $138,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in UCTT. Swedbank AB purchased a new stake in shares of Ultra Clean during the first quarter worth $111,828,000. Royce & Associates LP grew its holdings in shares of Ultra Clean by 7.5% during the third 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. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Ultra Clean by 6.4% during the second 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 in the last quarter. Pinnacle Associates Ltd. grew its holdings in shares of Ultra Clean by 2.1% during the third quarter. Pinnacle Associates Ltd. now owns 420,709 shares of the semiconductor company’s stock worth $16,799,000 after buying an additional 8,471 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of 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 buying an additional 207,633 shares in the last quarter. Hedge funds and other institutional investors own 96.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. TD Cowen dropped their target price on shares of Ultra Clean from $60.00 to $57.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. Needham & Company LLC dropped their target price 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 started coverage on shares of Ultra Clean in a report on Wednesday, September 25th. They issued an “outperform” rating and a $70.00 price objective for the company. Finally, Craig Hallum upped their price objective 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. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $57.75.

Insider Buying and Selling at Ultra Clean

In other Ultra Clean news, COO Harjinder Bajwa purchased 15,000 shares of Ultra Clean stock in a transaction dated Wednesday, November 13th. The shares were acquired at an average price of $34.83 per share, with a total value of $522,450.00. Following the completion of the transaction, the chief operating officer now owns 44,291 shares of the company’s stock, valued at $1,542,655.53. This trade represents a 51.21 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jeffrey L. Mckibben sold 3,422 shares of the stock in a transaction dated 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 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 have purchased 27,500 shares of company stock valued at $943,275 over the last 90 days. 2.20% of the stock is owned by insiders.

Ultra Clean Trading Up 1.3 %

Shares of UCTT opened at $35.91 on Thursday. 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 12-month low of $25.65 and a 12-month high of $56.47. The firm has a 50-day moving average price of $36.50 and a 200 day moving average price of $41.42. The firm has a market capitalization of $1.62 billion, a P/E ratio of 448.93 and a beta of 2.08.

Ultra Clean (NASDAQ:UCTT) last posted its earnings results on Monday, October 28th. The semiconductor company reported $0.35 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 for the quarter, compared to analysts’ expectations of $515.88 million. During the same quarter in the prior year, the company posted ($0.03) earnings per share. Ultra Clean’s revenue for the quarter was up 24.2% compared to the same quarter last year. Sell-side analysts forecast that Ultra Clean Holdings, Inc. will post 1.09 EPS for the current year.

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.