Verition Fund Management LLC Purchases New Position in Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

Verition Fund Management LLC bought a new position in shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 20,761 shares of the semiconductor company's stock, valued at approximately $829,000.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of Ultra Clean by 52.1% in 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. CWM LLC raised its position in shares of Ultra Clean by 46.3% during the second quarter. CWM LLC now owns 800 shares of the semiconductor company's stock worth $39,000 after purchasing an additional 253 shares during the period. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Ultra Clean by 6.4% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 860,798 shares of the semiconductor company's stock valued at $42,179,000 after purchasing an additional 52,075 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new position in shares of Ultra Clean in the 2nd quarter valued at approximately $148,000. Finally, SummerHaven Investment Management LLC increased its stake in Ultra Clean by 1.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 19,993 shares of the semiconductor company's stock worth $980,000 after purchasing an additional 331 shares in the last quarter. 96.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ultra Clean

In other news, COO Harjinder Bajwa bought 2,500 shares of the company's stock in a transaction dated Thursday, October 31st. The shares were bought at an average cost of $33.33 per share, with a total value of $83,325.00. Following the acquisition, the chief operating officer now owns 29,291 shares in the company, valued at $976,269.03. This trade represents a 9.33 % increase in their ownership of the stock. The transaction was disclosed in a document filed 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 dated Thursday, November 7th. The stock was sold at an average price of $38.20, for a total value of $130,720.40. Following the transaction, 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 27,500 shares of company stock valued at $943,275. Insiders own 2.20% of the company's stock.

Ultra Clean Stock Down 2.0 %

Shares of NASDAQ UCTT traded down $0.75 during midday trading on Tuesday, reaching $37.04. The company's stock had a trading volume of 243,525 shares, compared to its average volume of 371,395. The stock has a 50 day simple moving average of $37.09 and a 200-day simple moving average of $40.75. The company has a current ratio of 2.75, a quick ratio of 1.63 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 463.06 and a beta of 2.09. Ultra Clean Holdings, Inc. has a fifty-two week low of $28.38 and a fifty-two 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 (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $515.88 million. During the same period in the previous year, the business earned ($0.03) EPS. The company's revenue was up 24.2% compared to the same quarter last year. Equities research analysts predict that Ultra Clean Holdings, Inc. will post 1.09 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on UCTT shares. TD Cowen cut 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 note on Tuesday, October 29th. Oppenheimer started coverage on shares of Ultra Clean in a research report on Wednesday, September 25th. They issued an "outperform" rating and a $70.00 price objective on the stock. Finally, Needham & Company LLC lowered their target price on Ultra Clean from $50.00 to $44.00 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, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $57.75.

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.