Summit Global Investments Invests $1.45 Million in Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

Summit Global Investments bought a new stake in shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 36,308 shares of the semiconductor company's stock, valued at approximately $1,450,000. Summit Global Investments owned 0.08% of Ultra Clean as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of UCTT. GAMMA Investing LLC grew its position in shares of Ultra Clean by 52.1% during the 2nd quarter. GAMMA Investing LLC now owns 622 shares of the semiconductor company's stock valued at $30,000 after acquiring an additional 213 shares during the period. Signaturefd LLC lifted its stake in Ultra Clean by 465.5% in the 3rd quarter. Signaturefd LLC now owns 803 shares of the semiconductor company's stock valued at $32,000 after buying an additional 661 shares in the last quarter. CWM LLC lifted its stake in Ultra Clean by 46.3% in the 2nd quarter. CWM LLC now owns 800 shares of the semiconductor company's stock valued at $39,000 after buying an additional 253 shares in the last quarter. Innealta Capital LLC purchased a new position in Ultra Clean in the 2nd quarter valued at about $41,000. Finally, nVerses Capital LLC purchased a new position in Ultra Clean in the 2nd quarter valued at about $64,000. 96.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on UCTT shares. Craig Hallum raised their price target on shares of Ultra Clean from $52.00 to $60.00 and gave the company a "buy" rating in a research note on Friday, July 26th. Oppenheimer initiated coverage on shares of Ultra Clean in a research note on Wednesday, September 25th. They issued an "outperform" rating and a $70.00 target price on the stock. TD Cowen decreased their target price 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. Finally, Needham & Company LLC decreased their target price on shares of Ultra Clean from $50.00 to $44.00 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 data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $57.75.

Insider Activity at Ultra Clean

In other news, COO Harjinder Bajwa acquired 2,500 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were purchased at an average cost of $33.33 per share, for a total transaction of $83,325.00. Following the transaction, the chief operating officer now directly owns 29,291 shares in the company, valued at approximately $976,269.03. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 2.20% of the stock is currently owned by insiders.

Ultra Clean Trading Down 1.8 %

Shares of UCTT stock traded down $0.72 during trading on Friday, hitting $38.12. 468,700 shares of the stock traded hands, compared to its average volume of 373,403. The firm has a market capitalization of $1.72 billion, a P/E ratio of 476.50 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. The firm's fifty day moving average price is $36.33 and its 200-day moving average price is $41.74. Ultra Clean Holdings, Inc. has a 52-week low of $24.39 and a 52-week high of $56.47.

Ultra Clean (NASDAQ:UCTT - Get Free Report) last issued its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. The company 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%. Ultra Clean's revenue was up 24.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.03) EPS. As a group, research analysts forecast that Ultra Clean Holdings, Inc. will post 1.09 earnings per share for the current fiscal year.

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.