Invesco Ltd. Purchases 649,642 Shares of Ultra Clean Holdings, Inc. $UCTT

Invesco Ltd. raised its position in shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT) by 62.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,681,675 shares of the semiconductor company’s stock after purchasing an additional 649,642 shares during the period. Invesco Ltd.’s holdings in Ultra Clean were worth $36,005,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of UCTT. Byrne Asset Management LLC bought a new stake in Ultra Clean during the 1st quarter valued at $25,000. Versant Capital Management Inc raised its position in Ultra Clean by 386.9% during the 1st quarter. Versant Capital Management Inc now owns 1,412 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 1,122 shares in the last quarter. Quarry LP raised its position in Ultra Clean by 58.1% during the 4th quarter. Quarry LP now owns 1,913 shares of the semiconductor company’s stock valued at $69,000 after purchasing an additional 703 shares in the last quarter. CWM LLC raised its position in Ultra Clean by 29.1% during the 1st quarter. CWM LLC now owns 4,725 shares of the semiconductor company’s stock valued at $101,000 after purchasing an additional 1,064 shares in the last quarter. Finally, Palouse Capital Management Inc. raised its position in Ultra Clean by 45.0% during the 1st quarter. Palouse Capital Management Inc. now owns 8,254 shares of the semiconductor company’s stock valued at $177,000 after purchasing an additional 2,562 shares in the last quarter. 96.06% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Jeffrey L. Mckibben sold 6,294 shares of the company’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $20.87, for a total transaction of $131,355.78. Following the transaction, the insider directly owned 21,996 shares of the company’s stock, valued at $459,056.52. This represents a 22.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Paul Yoonku Cho sold 4,084 shares of the company’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $21.06, for a total value of $86,009.04. Following the transaction, the general counsel directly owned 23,345 shares in the company, valued at $491,645.70. This represents a 14.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on UCTT. Wall Street Zen lowered Ultra Clean from a “hold” rating to a “sell” rating in a research report on Wednesday, April 30th. TD Cowen reduced their price target on Ultra Clean from $48.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday, April 29th. Finally, Needham & Company LLC boosted their price target on Ultra Clean from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th.

Ultra Clean Trading Up 1.6%

UCTT opened at $23.03 on Tuesday. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of -6.81, a PEG ratio of 0.89 and a beta of 1.99. The company has a current ratio of 3.06, a quick ratio of 1.86 and a debt-to-equity ratio of 0.59. Ultra Clean Holdings, Inc. has a 12 month low of $16.66 and a 12 month high of $41.90. The stock has a fifty day moving average price of $23.13 and a 200-day moving average price of $23.92.

Ultra Clean (NASDAQ:UCTT) last announced its earnings results on Monday, July 28th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.27. Ultra Clean had a positive return on equity of 5.32% and a negative net margin of 7.15%. The company had revenue of $518.80 million for the quarter, compared to analyst estimates of $500.83 million. During the same period in the prior year, the company posted $0.32 EPS. The firm’s quarterly revenue was up .5% compared to the same quarter last year. As a group, equities research analysts anticipate that Ultra Clean Holdings, Inc. will post 1.09 earnings per share for the current fiscal 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.