Algert Global LLC Raises Stock Position in Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

Algert Global LLC lifted its stake in shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT - Free Report) by 424.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 85,064 shares of the semiconductor company's stock after purchasing an additional 68,830 shares during the period. Algert Global LLC owned 0.19% of Ultra Clean worth $3,397,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC raised 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 buying an additional 213 shares during the period. Signaturefd LLC raised its position in shares of Ultra Clean by 465.5% during 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 during the period. CWM LLC raised its position in shares of Ultra Clean by 46.3% during 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 during the period. Innealta Capital LLC purchased a new stake in shares of Ultra Clean during the 2nd quarter valued at approximately $41,000. Finally, nVerses Capital LLC purchased a new stake in shares of Ultra Clean during the 2nd quarter valued at approximately $64,000. 96.06% of the stock is currently owned by institutional investors and hedge funds.

Ultra Clean Stock Performance

Shares of NASDAQ:UCTT traded down $0.96 on Tuesday, reaching $37.49. The company's stock had a trading volume of 348,255 shares, compared to its average volume of 372,957. The stock's 50-day moving average is $36.72 and its two-hundred day moving average is $41.27. Ultra Clean Holdings, Inc. has a 52-week low of $26.25 and a 52-week 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 stock has a market capitalization of $1.69 billion, a P/E ratio of 474.43 and a beta of 2.08.

Ultra Clean (NASDAQ:UCTT - Get Free Report) last posted its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.02. The firm had revenue of $540.40 million during the quarter, compared to analysts' expectations 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 for the quarter 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. As a group, sell-side analysts forecast that Ultra Clean Holdings, Inc. will post 1.09 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Ultra Clean

In other news, insider Jeffrey L. Mckibben sold 3,422 shares of the 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 sale, the insider now directly owns 18,805 shares in the company, valued at $718,351. This represents a 15.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Harjinder Bajwa bought 2,500 shares of the firm's stock in a transaction that occurred on Thursday, October 31st. The shares were purchased at an average price of $33.33 per share, for a total transaction of $83,325.00. Following the transaction, the chief operating officer now owns 29,291 shares of the company's stock, valued at $976,269.03. The trade was a 9.33 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 27,500 shares of company stock valued at $943,275. Corporate insiders own 2.20% of the company's stock.

About Ultra Clean

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.