Quarry LP Acquires 989 Shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

Quarry LP increased its holdings in Ultra Clean Holdings, Inc. (NASDAQ:UCTT) by 447.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,210 shares of the semiconductor company’s stock after acquiring an additional 989 shares during the quarter. Quarry LP’s holdings in Ultra Clean were worth $48,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Vaughan Nelson Investment Management L.P. boosted its position in shares of 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 worth $42,179,000 after purchasing an additional 52,075 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Ultra Clean by 130.1% in the third 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. Moloney Securities Asset Management LLC purchased a new stake in shares of Ultra Clean in the third quarter worth $1,048,000. Assenagon Asset Management S.A. increased its holdings in shares of Ultra Clean by 454.2% during the third quarter. Assenagon Asset Management S.A. now owns 335,096 shares of the semiconductor company’s stock valued at $13,380,000 after acquiring an additional 274,628 shares in the last quarter. Finally, Lodestar Private Asset Management LLC purchased a new position in shares of Ultra Clean in the 3rd quarter worth about $885,000. 96.06% of the stock is owned by hedge funds and other institutional investors.

Ultra Clean Stock Performance

Shares of NASDAQ UCTT opened at $37.04 on Wednesday. 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 firm’s 50-day moving average price is $37.09 and its 200-day moving average price is $40.75. Ultra Clean Holdings, Inc. has a 52-week low of $28.38 and a 52-week high of $56.47. The company has a market cap of $1.67 billion, a PE ratio of 463.06 and a beta of 2.09.

Ultra Clean (NASDAQ:UCTT) last posted its earnings results on Monday, October 28th. The semiconductor company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The business had revenue of $540.40 million during 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%. The firm’s revenue was up 24.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.03) EPS. As a group, analysts anticipate that Ultra Clean Holdings, Inc. will post 1.09 EPS for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Needham & Company LLC reduced their price objective on shares of Ultra Clean from $50.00 to $44.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Oppenheimer initiated 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, TD Cowen lowered their price objective on Ultra Clean from $60.00 to $57.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Four research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $57.75.

Insider Buying and Selling

In related news, insider Jeffrey L. Mckibben sold 3,422 shares of the business’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 transaction of $130,720.40. Following the completion of the sale, the insider now directly owns 18,805 shares in the company, valued at approximately $718,351. The trade was a 15.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Harjinder Bajwa purchased 2,500 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was acquired at an average price of $33.33 per share, for a total transaction of $83,325.00. Following the completion of the transaction, the chief operating officer now directly owns 29,291 shares of the company’s stock, valued at approximately $976,269.03. This trade represents a 9.33 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 27,500 shares of company stock valued at $943,275 over the last 90 days. Company insiders own 2.20% of the company’s stock.

Ultra Clean 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.