Moloney Securities Asset Management LLC Acquires New Holdings in Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

Moloney Securities Asset Management LLC acquired a new stake in shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT) during the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 26,256 shares of the semiconductor company’s stock, valued at approximately $1,048,000.

Several other institutional investors also recently bought and sold shares of the business. Swedbank AB purchased a new position in Ultra Clean in the first quarter worth $111,828,000. Assenagon Asset Management S.A. grew its holdings in Ultra Clean by 454.2% in the third quarter. Assenagon Asset Management S.A. now owns 335,096 shares of the semiconductor company’s stock worth $13,380,000 after purchasing an additional 274,628 shares during the last quarter. Hood River Capital Management LLC purchased a new position in Ultra Clean in the first quarter worth $10,915,000. Harbor Capital Advisors Inc. grew its holdings in Ultra Clean by 130.1% in the third quarter. Harbor Capital Advisors Inc. now owns 367,212 shares of the semiconductor company’s stock worth $14,663,000 after purchasing an additional 207,633 shares during the last quarter. Finally, Comerica Bank grew its holdings in Ultra Clean by 512.5% in the first quarter. Comerica Bank now owns 134,289 shares of the semiconductor company’s stock worth $6,169,000 after purchasing an additional 112,366 shares during the last quarter. 96.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Ultra Clean

In other Ultra Clean news, COO Harjinder Bajwa bought 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was bought at an average cost 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 of the company’s stock, valued at approximately $976,269.03. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.20% of the stock is currently owned by insiders.

Ultra Clean Trading Up 5.1 %

NASDAQ:UCTT opened at $36.04 on Wednesday. The company has a market capitalization of $1.62 billion, a P/E ratio of 450.56 and a beta of 2.08. The firm has a fifty day simple moving average of $36.28 and a 200-day simple moving average of $41.79. Ultra Clean Holdings, Inc. has a 12 month low of $24.39 and a 12 month high of $56.47. The company has a current ratio of 2.75, a quick ratio of 1.63 and a debt-to-equity ratio of 0.52.

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

Analysts Set New Price Targets

Several equities analysts have issued reports on UCTT shares. Craig Hallum lifted their price target on shares of Ultra Clean from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, July 26th. TD Cowen lowered their price objective 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. Oppenheimer assumed coverage on shares of Ultra Clean in a research note on Wednesday, September 25th. They set an “outperform” rating and a $70.00 price objective for the company. Finally, Needham & Company LLC lowered their price objective 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. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $57.75.

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.