Fmr LLC Decreases Position in Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

FMR LLC decreased its stake in shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT - Free Report) by 18.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,394,682 shares of the semiconductor company's stock after selling 322,004 shares during the quarter. FMR LLC owned about 3.10% of Ultra Clean worth $55,690,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Dynamic Technology Lab Private Ltd purchased a new position in shares of Ultra Clean in the third quarter worth about $833,000. Fisher Asset Management LLC increased its holdings in Ultra Clean by 5.4% in the 3rd quarter. Fisher Asset Management LLC now owns 158,410 shares of the semiconductor company's stock worth $6,325,000 after buying an additional 8,065 shares during the period. Algert Global LLC raised its position in Ultra Clean by 424.0% during the 3rd quarter. Algert Global LLC now owns 85,064 shares of the semiconductor company's stock worth $3,397,000 after buying an additional 68,830 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Ultra Clean by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 647,288 shares of the semiconductor company's stock valued at $25,846,000 after acquiring an additional 18,000 shares during the period. Finally, Intech Investment Management LLC purchased a new stake in shares of Ultra Clean in the 3rd quarter valued at $550,000. Hedge funds and other institutional investors own 96.06% of the company's stock.

Ultra Clean Price Performance

Shares of NASDAQ UCTT traded up $0.52 during mid-day trading on Friday, reaching $38.08. The company's stock had a trading volume of 274,382 shares, compared to its average volume of 352,305. The stock has a market capitalization of $1.72 billion, a P/E ratio of 476.06 and a beta of 2.09. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.63 and a current ratio of 2.75. Ultra Clean Holdings, Inc. has a 1-year low of $27.58 and a 1-year high of $56.47. The stock has a 50-day moving average of $37.15 and a two-hundred day moving average of $40.93.

Ultra Clean (NASDAQ:UCTT - Get Free Report) last issued its earnings results on Monday, October 28th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. Ultra Clean had a return on equity of 4.08% and a net margin of 0.18%. The company had revenue of $540.40 million during the quarter, compared to analysts' expectations of $515.88 million. During the same period in the prior year, the business earned ($0.03) EPS. The firm's quarterly revenue was up 24.2% on a year-over-year basis. On average, equities research analysts anticipate that Ultra Clean Holdings, Inc. will post 1.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on UCTT. Oppenheimer assumed 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. TD Cowen decreased their price target on Ultra Clean from $60.00 to $57.00 and set a "buy" rating for the company in a report on Tuesday, October 29th. Finally, Needham & Company LLC dropped their price objective 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 equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Ultra Clean currently has an average rating of "Buy" and a consensus price target of $57.75.

Insider Transactions at Ultra Clean

In other Ultra Clean news, COO Harjinder Bajwa purchased 10,000 shares of the business's stock in a transaction on Friday, November 15th. The shares were bought at an average cost of $33.75 per share, for a total transaction of $337,500.00. Following the completion of the purchase, the chief operating officer now directly owns 54,291 shares of the company's stock, valued at approximately $1,832,321.25. This trade represents a 22.58 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffrey L. Mckibben sold 3,422 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $38.20, for a total transaction of $130,720.40. Following the sale, the insider now owns 18,805 shares in the company, valued at approximately $718,351. This trade represents a 15.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 27,500 shares of company stock worth $943,275. 2.20% of the stock is currently owned by company insiders.

Ultra Clean Company 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.