Cornercap Investment Counsel Inc. Takes Position in Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

Cornercap Investment Counsel Inc. bought a new stake in shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,194 shares of the semiconductor company’s stock, valued at approximately $527,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in UCTT. Swedbank AB purchased a new stake in Ultra Clean in the first quarter worth $111,828,000. Assenagon Asset Management S.A. grew its stake in Ultra Clean by 454.2% in the third quarter. Assenagon Asset Management S.A. now owns 335,096 shares of the semiconductor company’s stock worth $13,380,000 after purchasing an additional 274,628 shares during the period. Hood River Capital Management LLC purchased a new stake in Ultra Clean in the first quarter worth $10,915,000. Harbor Capital Advisors Inc. grew its stake 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 purchasing an additional 207,633 shares during the period. Finally, Comerica Bank grew its stake in Ultra Clean by 512.5% in the first quarter. Comerica Bank now owns 134,289 shares of the semiconductor company’s stock worth $6,169,000 after purchasing an additional 112,366 shares during the period. 96.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Harjinder Bajwa bought 2,500 shares of the stock in a transaction on 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 acquisition, 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 acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey L. Mckibben sold 3,422 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 18,805 shares in the company, valued at approximately $718,351. This represents a 15.40 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.

Ultra Clean Trading Down 3.2 %

Shares of NASDAQ:UCTT opened at $33.97 on Friday. The company has a market cap of $1.53 billion, a P/E ratio of 424.68 and a beta of 2.08. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.75 and a quick ratio of 1.63. Ultra Clean Holdings, Inc. has a 1 year low of $25.65 and a 1 year high of $56.47. The stock’s fifty day moving average price is $36.38 and its 200-day moving average price is $41.54.

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

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Needham & Company LLC dropped their target price on Ultra Clean from $50.00 to $44.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. TD Cowen dropped their target price on Ultra Clean from $60.00 to $57.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Craig Hallum boosted their target price on Ultra Clean from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Oppenheimer assumed 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. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat, Ultra Clean has a consensus rating of “Buy” and a consensus price target of $57.75.

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.