Connor Clark & Lunn Investment Management Ltd. Boosts Position in Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

Connor Clark & Lunn Investment Management Ltd. grew its position in Ultra Clean Holdings, Inc. (NASDAQ:UCTT) by 74.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,978 shares of the semiconductor company’s stock after buying an additional 3,394 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Ultra Clean were worth $319,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Meeder Asset Management Inc. increased its holdings in Ultra Clean by 306.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 3,466 shares of the semiconductor company’s stock valued at $138,000 after acquiring an additional 2,614 shares in the last quarter. Quest Partners LLC increased its stake in shares of Ultra Clean by 4,602.7% during the 3rd quarter. Quest Partners LLC now owns 6,866 shares of the semiconductor company’s stock worth $274,000 after purchasing an additional 6,720 shares in the last quarter. Royce & Associates LP raised its position in shares of Ultra Clean by 7.5% during 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 during the last quarter. Cornercap Investment Counsel Inc. purchased a new stake in Ultra Clean in the 3rd quarter valued at approximately $527,000. Finally, Victory Capital Management Inc. grew its holdings in Ultra Clean by 6.8% during the 3rd quarter. Victory Capital Management Inc. now owns 57,825 shares of the semiconductor company’s stock valued at $2,309,000 after buying an additional 3,681 shares during the last quarter. Institutional investors and hedge funds own 96.06% of the company’s stock.

Ultra Clean Price Performance

Shares of NASDAQ:UCTT opened at $38.43 on Friday. The company has a market cap of $1.73 billion, a P/E ratio of 480.38 and a beta of 2.08. The business has a fifty day simple moving average of $37.00 and a 200-day simple moving average of $41.13. Ultra Clean Holdings, Inc. has a 52 week low of $26.50 and a 52 week high of $56.47. The company has a quick ratio of 1.63, a current ratio of 2.75 and a debt-to-equity ratio of 0.52.

Ultra Clean (NASDAQ:UCTT) last posted its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.33 by $0.02. The company 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 revenue was up 24.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.03) EPS. Equities research analysts forecast that Ultra Clean Holdings, Inc. will post 1.09 EPS for the current year.

Insider Buying and Selling

In related news, COO Harjinder Bajwa acquired 2,500 shares of the stock in a transaction dated Thursday, October 31st. The stock was bought at an average cost 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 of the company’s stock, valued at approximately $976,269.03. This represents a 9.33 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey L. Mckibben sold 3,422 shares of the 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 completion of the transaction, the insider now directly owns 18,805 shares in the company, valued at $718,351. This trade represents a 15.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 27,500 shares of company stock valued at $943,275. Insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. TD Cowen cut their price target on Ultra Clean from $60.00 to $57.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. Oppenheimer began coverage on shares of Ultra Clean in a report on Wednesday, September 25th. They issued an “outperform” rating and a $70.00 target price on the stock. Finally, Needham & Company LLC decreased their price target on shares of Ultra Clean from $50.00 to $44.00 and set a “buy” rating on the stock in a research note 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 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.