Insider Buying: Ultra Clean Holdings, Inc. (NASDAQ:UCTT) COO Buys 2,500 Shares of Stock

Ultra Clean Holdings, Inc. (NASDAQ:UCTT) COO Harjinder Bajwa purchased 2,500 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were bought 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 of the company’s stock, valued at approximately $976,269.03. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Ultra Clean Price Performance

Shares of Ultra Clean stock traded down $0.05 on Monday, hitting $34.28. The company’s stock had a trading volume of 396,040 shares, compared to its average volume of 371,182. The company has a quick ratio of 1.60, a current ratio of 2.75 and a debt-to-equity ratio of 0.52. The firm has a fifty day moving average price of $36.37 and a 200-day moving average price of $41.86. Ultra Clean Holdings, Inc. has a 52-week low of $24.39 and a 52-week high of $56.47. The company has a market capitalization of $1.54 billion, a P/E ratio of 429.18 and a beta of 2.08.

Ultra Clean (NASDAQ:UCTT) last released 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. Ultra Clean had a net margin of 0.18% and a return on equity of 4.08%. The business had revenue of $540.40 million for the quarter, compared to analyst estimates of $515.88 million. During the same period in the prior year, the business earned ($0.03) earnings per share. The company’s quarterly revenue was up 24.2% on a year-over-year basis. On average, equities research analysts expect that Ultra Clean Holdings, Inc. will post 1.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Ultra Clean

A number of hedge funds and other institutional investors have recently modified their holdings of the company. 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 valued at $42,179,000 after acquiring an additional 52,075 shares during the last quarter. Comerica Bank raised its position 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 purchasing an additional 112,366 shares during the period. Lodestar Private Asset Management LLC acquired a new stake in shares of Ultra Clean in the third quarter valued at about $885,000. Harbor Capital Advisors Inc. lifted its position in 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 acquiring an additional 207,633 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Ultra Clean by 454.2% during 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 purchasing an additional 274,628 shares during the period. 96.06% of the stock is currently owned by hedge funds and other institutional investors.

Ultra Clean Company 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.