JPMorgan Chase & Co. Buys 110,403 Shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

JPMorgan Chase & Co. increased its stake in shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT) by 27.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 506,107 shares of the semiconductor company’s stock after purchasing an additional 110,403 shares during the quarter. JPMorgan Chase & Co.’s holdings in Ultra Clean were worth $20,209,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Signaturefd LLC grew its stake in shares of Ultra Clean by 465.5% in the third quarter. Signaturefd LLC now owns 803 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 661 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Ultra Clean during the 3rd quarter valued at approximately $32,000. GAMMA Investing LLC lifted its holdings in Ultra Clean by 92.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,197 shares of the semiconductor company’s stock worth $48,000 after buying an additional 575 shares during the period. Quarry LP grew its position in shares of Ultra Clean by 447.5% in the 3rd quarter. Quarry LP now owns 1,210 shares of the semiconductor company’s stock worth $48,000 after buying an additional 989 shares during the last quarter. Finally, CWM LLC increased its stake in shares of Ultra Clean by 204.3% during the third quarter. CWM LLC now owns 2,434 shares of the semiconductor company’s stock valued at $97,000 after buying an additional 1,634 shares during the period. 96.06% of the stock is owned by hedge funds and other institutional investors.

Ultra Clean Price Performance

Shares of UCTT stock opened at $38.78 on Friday. The business’s fifty day moving average is $36.89 and its 200 day moving average is $39.29. The company has a quick ratio of 1.63, a current ratio of 2.75 and a debt-to-equity ratio of 0.52. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 484.81 and a beta of 2.10. Ultra Clean Holdings, Inc. has a twelve month low of $31.61 and a twelve month high of $56.47.

Ultra Clean (NASDAQ:UCTT) last released its 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 firm had revenue of $540.40 million for the quarter, compared to the consensus estimate of $515.88 million. During the same period in the prior year, the firm earned ($0.03) EPS. The company’s revenue was up 24.2% compared to the same quarter last year. Research analysts expect that Ultra Clean Holdings, Inc. will post 1.09 EPS for the current fiscal year.

Analysts Set New Price Targets

UCTT has been the subject of a number of research analyst reports. Oppenheimer initiated coverage on Ultra Clean in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $70.00 price target for the company. 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 research report on Tuesday, October 29th. Finally, Needham & Company LLC reduced their price target on shares of Ultra Clean from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th.

Insider Buying and Selling at Ultra Clean

In other news, insider Jeffrey L. Mckibben sold 3,422 shares of the 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 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Harjinder Bajwa purchased 2,500 shares of the stock in a transaction dated Thursday, October 31st. The stock was bought at an average cost of $33.33 per share, with a total value of $83,325.00. Following the transaction, the chief operating officer now owns 29,291 shares in the company, valued at $976,269.03. The trade was a 9.33 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 27,500 shares of company stock valued at $943,275. 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.