Principal Financial Group Inc. Sells 9,813 Shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

Principal Financial Group Inc. lessened its stake in shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT) by 4.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 213,275 shares of the semiconductor company’s stock after selling 9,813 shares during the period. Principal Financial Group Inc. owned about 0.48% of Ultra Clean worth $8,516,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of UCTT. Swedbank AB bought a new stake in Ultra Clean during the first quarter worth about $111,828,000. Assenagon Asset Management S.A. raised its stake 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 valued at $13,380,000 after buying an additional 274,628 shares during the period. Hood River Capital Management LLC bought a new stake in Ultra Clean in the first quarter valued at approximately $10,915,000. Harbor Capital Advisors Inc. raised its stake 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 valued at $14,663,000 after buying an additional 207,633 shares during the period. Finally, Comerica Bank raised its stake 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 buying an additional 112,366 shares during the period. Institutional investors own 96.06% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Craig Hallum upped their price objective on Ultra Clean from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Needham & Company LLC dropped their price objective on Ultra Clean from $50.00 to $44.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. TD Cowen dropped their price objective on Ultra Clean from $60.00 to $57.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Finally, Oppenheimer assumed coverage on Ultra Clean in a research note on Wednesday, September 25th. They set an “outperform” rating and a $70.00 target price on the stock. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $57.75.

Insider Buying and Selling

In other Ultra Clean news, insider Jeffrey L. Mckibben sold 3,422 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $38.20, for a total value of $130,720.40. Following the sale, the insider now owns 18,805 shares of the company’s stock, valued at approximately $718,351. This trade represents a 15.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Harjinder Bajwa bought 2,500 shares of Ultra Clean stock in a transaction on Thursday, October 31st. The stock was acquired at an average cost of $33.33 per share, for a total transaction of $83,325.00. Following the acquisition, the chief operating officer now owns 29,291 shares in the company, valued at approximately $976,269.03. This represents a 9.33 % increase in their position. The disclosure for this purchase can be found here. 2.20% of the stock is currently owned by company insiders.

Ultra Clean Price Performance

Shares of NASDAQ UCTT opened at $35.21 on Tuesday. The firm has a market cap of $1.59 billion, a P/E ratio of 440.18 and a beta of 2.08. 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 Holdings, Inc. has a 1-year low of $25.65 and a 1-year high of $56.47. The business’s 50 day moving average is $36.38 and its 200-day moving average is $41.54.

Ultra Clean (NASDAQ:UCTT) last announced its earnings results 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 company had revenue of $540.40 million for the quarter, compared to analyst estimates 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 company earned ($0.03) earnings per share. Equities research analysts predict that Ultra Clean Holdings, Inc. will post 1.09 earnings per share for the current year.

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.