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

Fmr LLC reduced its position in Ultra Clean Holdings, Inc. (NASDAQ:UCTT) by 18.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,394,682 shares of the semiconductor company’s stock after selling 322,004 shares during the period. Fmr LLC’s holdings in Ultra Clean were worth $55,690,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Royce & Associates LP grew its position in Ultra Clean by 7.5% during the 3rd quarter. Royce & Associates LP now owns 908,697 shares of the semiconductor company’s stock worth $36,284,000 after purchasing an additional 63,301 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in shares of 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 worth $42,179,000 after buying an additional 52,075 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Ultra Clean by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 647,288 shares of the semiconductor company’s stock valued at $25,846,000 after buying an additional 18,000 shares in the last quarter. Pinnacle Associates Ltd. raised its position in Ultra Clean by 2.1% during the third quarter. Pinnacle Associates Ltd. now owns 420,709 shares of the semiconductor company’s stock valued at $16,799,000 after buying an additional 8,471 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its stake in Ultra Clean by 130.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 367,212 shares of the semiconductor company’s stock worth $14,663,000 after acquiring an additional 207,633 shares in the last quarter. Institutional investors and hedge funds own 96.06% of the company’s stock.

Ultra Clean Trading Up 1.4 %

NASDAQ:UCTT opened at $38.08 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.63 and a current ratio of 2.75. The company has a market capitalization of $1.72 billion, a P/E ratio of 476.06 and a beta of 2.09. The stock’s 50 day moving average price is $37.15 and its 200 day moving average price is $40.93. Ultra Clean Holdings, Inc. has a 52 week low of $27.58 and a 52 week high of $56.47.

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

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, COO Harjinder Bajwa purchased 2,500 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were bought at an average price of $33.33 per share, with a total value of $83,325.00. Following the completion of the transaction, the chief operating officer now directly owns 29,291 shares in the company, valued at $976,269.03. This trade represents a 9.33 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 sale, the insider now directly owns 18,805 shares of the company’s stock, valued at approximately $718,351. This represents a 15.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders purchased 27,500 shares of company stock valued at $943,275 over the last quarter. 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.