Victory Capital Management Inc. Grows Holdings in Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

Victory Capital Management Inc. raised its holdings in Ultra Clean Holdings, Inc. (NASDAQ:UCTT) by 6.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 57,825 shares of the semiconductor company’s stock after purchasing an additional 3,681 shares during the quarter. Victory Capital Management Inc. owned about 0.13% of Ultra Clean worth $2,309,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Ultra Clean by 6.4% in 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 buying an additional 52,075 shares during the period. Comerica Bank lifted 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 valued at $6,169,000 after acquiring an additional 112,366 shares during the period. Harbor Capital Advisors Inc. boosted its position in shares of Ultra Clean by 130.1% during the 3rd 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 in the last quarter. Moloney Securities Asset Management LLC acquired a new position in shares of Ultra Clean during the 3rd quarter worth $1,048,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Ultra Clean by 454.2% in 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 purchasing an additional 274,628 shares in the last quarter. 96.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ultra Clean

In related news, COO Harjinder Bajwa acquired 2,500 shares of the company’s stock in a transaction dated Thursday, October 31st. The stock was bought at an average price of $33.33 per share, with a total value of $83,325.00. Following the purchase, the chief operating officer now directly owns 29,291 shares in the company, valued at $976,269.03. The trade was a 9.33 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey L. Mckibben sold 3,422 shares of the business’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 completion of the sale, the insider now owns 18,805 shares of the company’s stock, valued at approximately $718,351. The trade was a 15.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders acquired 27,500 shares of company stock worth $943,275. Insiders own 2.20% of the company’s stock.

Ultra Clean Trading Up 0.3 %

Shares of Ultra Clean stock opened at $37.30 on Monday. The business has a 50 day moving average price of $36.63 and a 200 day moving average price of $41.31. The company has a market capitalization of $1.68 billion, a P/E ratio of 466.31 and a beta of 2.08. 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 Holdings, Inc. has a 1 year low of $26.25 and a 1 year high of $56.47.

Ultra Clean (NASDAQ:UCTT) last posted its quarterly earnings data 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 firm had revenue of $540.40 million during the quarter, compared to analysts’ expectations of $515.88 million. Ultra Clean had a return on equity of 4.08% and a net margin of 0.18%. The firm’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.03) EPS. Sell-side analysts anticipate that Ultra Clean Holdings, Inc. will post 1.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on UCTT. Needham & Company LLC lowered their target price on shares of Ultra Clean from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. TD Cowen lowered their price target on Ultra Clean from $60.00 to $57.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Finally, Oppenheimer began coverage on Ultra Clean in a report on Wednesday, September 25th. They set an “outperform” rating and a $70.00 price objective for the company. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price 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.