Swedbank AB Lowers Position in Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

Swedbank AB cut its position in shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT - Free Report) by 50.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,211,217 shares of the semiconductor company's stock after selling 1,223,007 shares during the quarter. Swedbank AB owned approximately 2.69% of Ultra Clean worth $48,364,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of UCTT. Assenagon Asset Management S.A. boosted its holdings in Ultra Clean by 454.2% during the 3rd 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 during the period. Harbor Capital Advisors Inc. boosted its holdings in Ultra Clean by 130.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 367,212 shares of the semiconductor company's stock valued at $14,663,000 after acquiring an additional 207,633 shares during the period. Hood River Capital Management LLC boosted its holdings in Ultra Clean by 54.2% during the 2nd quarter. Hood River Capital Management LLC now owns 366,266 shares of the semiconductor company's stock valued at $17,947,000 after acquiring an additional 128,670 shares during the period. Comerica Bank boosted its holdings in Ultra Clean by 512.5% during the 1st quarter. Comerica Bank now owns 134,289 shares of the semiconductor company's stock valued at $6,169,000 after acquiring an additional 112,366 shares during the period. Finally, Algert Global LLC boosted its holdings in Ultra Clean by 424.0% during the 3rd quarter. Algert Global LLC now owns 85,064 shares of the semiconductor company's stock valued at $3,397,000 after acquiring an additional 68,830 shares during the period. 96.06% of the stock is currently owned by institutional investors.

Ultra Clean Stock Up 3.1 %

UCTT stock traded up $1.15 on Monday, reaching $38.45. 450,075 shares of the company traded hands, compared to its average volume of 373,111. The company has a market cap of $1.73 billion, a P/E ratio of 480.69 and a beta of 2.08. The firm has a fifty day simple moving average of $36.63 and a 200-day simple moving average of $41.31. Ultra Clean Holdings, Inc. has a one year low of $26.25 and a one year 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.

Ultra Clean (NASDAQ:UCTT - Get Free Report) 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 analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the company earned ($0.03) EPS. Research analysts anticipate that Ultra Clean Holdings, Inc. will post 1.09 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Jeffrey L. Mckibben sold 3,422 shares of Ultra Clean stock in a transaction on Thursday, November 7th. The stock was 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 owns 18,805 shares of the company's stock, valued at $718,351. The trade was a 15.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Harjinder Bajwa acquired 10,000 shares of the business's stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average cost of $33.75 per share, with a total value of $337,500.00. Following the acquisition, the chief operating officer now directly owns 54,291 shares of the company's stock, valued at $1,832,321.25. This trade represents a 22.58 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 27,500 shares of company stock valued at $943,275. Corporate insiders own 2.20% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on UCTT shares. Needham & Company LLC dropped their price objective on Ultra Clean from $50.00 to $44.00 and set a "buy" rating for the company in a report on Tuesday, October 29th. Oppenheimer started coverage on 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 dropped their price objective on Ultra Clean from $60.00 to $57.00 and set a "buy" rating for the company in a report on Tuesday, October 29th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $57.75.

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.