Point72 Asset Management L.P. Invests $191,000 in Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

Point72 Asset Management L.P. acquired a new stake in shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 4,781 shares of the semiconductor company’s stock, valued at approximately $191,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in UCTT. Royce & Associates LP boosted its position in shares of Ultra Clean by 7.5% in the 3rd quarter. Royce & Associates LP now owns 908,697 shares of the semiconductor company’s stock worth $36,284,000 after purchasing an additional 63,301 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in Ultra Clean by 6.4% in 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 acquiring an additional 52,075 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Ultra Clean by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 647,288 shares of the semiconductor company’s stock worth $25,846,000 after acquiring an additional 18,000 shares during the last quarter. Pinnacle Associates Ltd. increased its holdings in shares of Ultra Clean by 2.1% during the third quarter. Pinnacle Associates Ltd. now owns 420,709 shares of the semiconductor company’s stock valued at $16,799,000 after acquiring an additional 8,471 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in shares of Ultra Clean by 130.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 367,212 shares of the semiconductor company’s stock valued at $14,663,000 after purchasing an additional 207,633 shares during the last quarter. Hedge funds and other institutional investors own 96.06% of the company’s stock.

Ultra Clean Price Performance

Shares of NASDAQ:UCTT opened at $37.31 on Friday. Ultra Clean Holdings, Inc. has a twelve month low of $30.20 and a twelve 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. The company has a market cap of $1.68 billion, a PE ratio of 466.43 and a beta of 2.09. The company’s 50 day moving average is $36.98 and its 200 day moving average is $40.65.

Ultra Clean (NASDAQ:UCTT) last released its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The firm had revenue of $540.40 million for the quarter, compared to analyst estimates of $515.88 million. Ultra Clean had a net margin of 0.18% and a return on equity of 4.08%. The business’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.03) earnings per share. On average, sell-side analysts forecast that Ultra Clean Holdings, Inc. will post 1.09 EPS for the current year.

Insider Buying and Selling at Ultra Clean

In other news, insider Jeffrey L. Mckibben sold 3,422 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were 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 of the company’s stock, valued at $718,351. This trade represents a 15.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Harjinder Bajwa bought 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was purchased at an average price of $34.83 per share, with a total value of $522,450.00. Following the completion of the purchase, the chief operating officer now owns 44,291 shares in the company, valued at approximately $1,542,655.53. This trade represents a 51.21 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 27,500 shares of company stock worth $943,275. Insiders own 2.20% of the company’s stock.

Wall Street Analyst Weigh In

UCTT has been the topic of several research analyst reports. TD Cowen dropped their target price on shares of Ultra Clean from $60.00 to $57.00 and set a “buy” rating on the stock in a research report 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 cut their target price on Ultra Clean from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Ultra Clean 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.