20,761 Shares in Ultra Clean Holdings, Inc. (NASDAQ:UCTT) Bought by Verition Fund Management LLC

Verition Fund Management LLC bought a new stake in Ultra Clean Holdings, Inc. (NASDAQ:UCTT) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 20,761 shares of the semiconductor company’s stock, valued at approximately $829,000.

A number of other hedge funds have also recently made changes to their positions in the company. BNP Paribas Financial Markets raised its stake in shares of Ultra Clean by 109.9% during the third quarter. BNP Paribas Financial Markets now owns 66,182 shares of the semiconductor company’s stock valued at $2,643,000 after acquiring an additional 34,645 shares during the last quarter. Quantbot Technologies LP grew its stake in shares of Ultra Clean by 1,783.9% in the third quarter. Quantbot Technologies LP now owns 39,788 shares of the semiconductor company’s stock worth $1,589,000 after purchasing an additional 37,676 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Ultra Clean in the third quarter valued at $833,000. Fisher Asset Management LLC raised its position in Ultra Clean by 5.4% during the 3rd quarter. Fisher Asset Management LLC now owns 158,410 shares of the semiconductor company’s stock worth $6,325,000 after purchasing an additional 8,065 shares during the last quarter. Finally, Algert Global LLC lifted its holdings in Ultra Clean by 424.0% during the 3rd quarter. Algert Global LLC now owns 85,064 shares of the semiconductor company’s stock worth $3,397,000 after buying an additional 68,830 shares during the period. 96.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Harjinder Bajwa purchased 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, with a total value of $83,325.00. Following the purchase, the chief operating officer now owns 29,291 shares in the company, valued at $976,269.03. This represents a 9.33 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey L. Mckibben sold 3,422 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $38.20, for a total value of $130,720.40. Following the completion of the sale, the insider now directly owns 18,805 shares of the company’s stock, valued at $718,351. This trade represents a 15.40 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 27,500 shares of company stock worth $943,275. Company insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

UCTT has been the subject of a number of analyst reports. Oppenheimer began coverage on Ultra Clean in a research report on Wednesday, September 25th. They set an “outperform” rating and a $70.00 price objective for the company. Needham & Company LLC lowered their price target 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. Finally, TD Cowen reduced their price objective on shares of Ultra Clean from $60.00 to $57.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Four research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $57.75.

Ultra Clean Trading Down 0.8 %

NASDAQ UCTT opened at $37.79 on Tuesday. Ultra Clean Holdings, Inc. has a one year low of $28.38 and a one year high of $56.47. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.75 and a quick ratio of 1.63. The business has a 50 day simple moving average of $37.11 and a 200 day simple moving average of $40.81. The stock has a market capitalization of $1.70 billion, a P/E ratio of 472.43 and a beta of 2.09.

Ultra Clean (NASDAQ:UCTT) last released its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.02. The company had revenue of $540.40 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.03) EPS. Research analysts expect that Ultra Clean Holdings, Inc. will post 1.09 earnings per share 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.