Ultra Clean Holdings, Inc. (NASDAQ:UCTT) Position Cut by Stoneridge Investment Partners LLC

Stoneridge Investment Partners LLC lowered its holdings in shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT) by 53.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,303 shares of the semiconductor company’s stock after selling 5,993 shares during the period. Stoneridge Investment Partners LLC’s holdings in Ultra Clean were worth $212,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in UCTT. Swedbank AB acquired a new position in shares of Ultra Clean during the first quarter valued at $111,828,000. Vaughan Nelson Investment Management L.P. grew its position in Ultra Clean by 6.4% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 860,798 shares of the semiconductor company’s stock valued at $42,179,000 after buying an additional 52,075 shares in the last quarter. Pinnacle Associates Ltd. grew its position in Ultra Clean by 2.1% in the 3rd 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 in the last quarter. Harbor Capital Advisors Inc. increased its stake in Ultra Clean by 130.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 367,212 shares of the semiconductor company’s stock valued at $14,663,000 after buying an additional 207,633 shares during the period. Finally, Hood River Capital Management LLC raised its position in shares of Ultra Clean by 54.2% during the 2nd quarter. Hood River Capital Management LLC now owns 366,266 shares of the semiconductor company’s stock worth $17,947,000 after buying an additional 128,670 shares in the last quarter. Institutional investors and hedge funds own 96.06% of the company’s stock.

Insiders Place Their Bets

In other news, COO Harjinder Bajwa bought 2,500 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was bought at an average cost of $33.33 per share, for a total transaction of $83,325.00. Following the completion of the acquisition, the chief operating officer now directly owns 29,291 shares in the company, valued at $976,269.03. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.20% of the company’s stock.

Ultra Clean Trading Down 0.1 %

Shares of NASDAQ:UCTT opened at $34.28 on Tuesday. 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 stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 428.55 and a beta of 2.08. Ultra Clean Holdings, Inc. has a 1-year low of $24.39 and a 1-year high of $56.47. The company has a 50 day moving average price of $36.31 and a 200 day moving average price of $41.81.

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on UCTT. Needham & Company LLC decreased their price objective 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 Ultra Clean in a research note on Wednesday, September 25th. They set an “outperform” rating and a $70.00 price target for the company. Craig Hallum lifted their price target on Ultra Clean from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, TD Cowen cut their price objective on Ultra Clean from $60.00 to $57.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $57.75.

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.