Intech Investment Management LLC Takes Position in Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

Intech Investment Management LLC acquired a new position in shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 13,762 shares of the semiconductor company's stock, valued at approximately $550,000.

Other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Ultra Clean by 39.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 29,322 shares of the semiconductor company's stock valued at $1,348,000 after purchasing an additional 8,265 shares during the last quarter. GAMMA Investing LLC raised its holdings 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 worth $30,000 after acquiring an additional 213 shares during the period. Harbor Capital Advisors Inc. boosted its position in shares of Ultra Clean by 287.4% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 159,579 shares of the semiconductor company's stock valued at $7,819,000 after acquiring an additional 118,390 shares during the last quarter. CWM LLC grew its holdings in shares of Ultra Clean by 46.3% in the second quarter. CWM LLC now owns 800 shares of the semiconductor company's stock valued at $39,000 after purchasing an additional 253 shares during the period. Finally, Vaughan Nelson Investment Management L.P. increased its position in Ultra Clean by 6.4% during the second 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 during the last quarter. Institutional investors and hedge funds own 96.06% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on UCTT. TD Cowen dropped their price target on shares of Ultra Clean from $60.00 to $57.00 and set a "buy" rating for the company in a research note on Tuesday, October 29th. Needham & Company LLC cut their target price on 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 initiated coverage on Ultra Clean in a research note on Wednesday, September 25th. They issued an "outperform" rating and a $70.00 price target on the stock. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $57.75.

Insider Activity at Ultra Clean

In other news, COO Harjinder Bajwa acquired 2,500 shares of Ultra Clean stock in a transaction that occurred on Thursday, October 31st. The stock was purchased 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 in the company, valued at approximately $976,269.03. This trade represents a 9.33 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey L. Mckibben sold 3,422 shares of Ultra Clean 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 completion of 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 position. The disclosure for this sale can be found here. Insiders have purchased 27,500 shares of company stock worth $943,275 in the last quarter. Company insiders own 2.20% of the company's stock.

Ultra Clean Stock Up 5.6 %

Ultra Clean stock traded up $2.16 during mid-day trading on Monday, hitting $40.59. The company had a trading volume of 448,777 shares, compared to its average volume of 372,644. The company has a quick ratio of 1.63, a current ratio of 2.75 and a debt-to-equity ratio of 0.52. Ultra Clean Holdings, Inc. has a 1 year low of $27.24 and a 1 year high of $56.47. The business has a fifty day moving average of $37.00 and a 200 day moving average of $41.08. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 480.44 and a beta of 2.08.

Ultra Clean (NASDAQ:UCTT - Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.02. Ultra Clean had a net margin of 0.18% and a return on equity of 4.08%. The firm had revenue of $540.40 million during the quarter, compared to analysts' expectations of $515.88 million. During the same period in the previous year, the company earned ($0.03) earnings per share. Ultra Clean's quarterly revenue was up 24.2% compared to the same quarter last year. On average, sell-side analysts expect 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.