Kendall Capital Management Sells 605 Shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

Kendall Capital Management decreased its holdings in Ultra Clean Holdings, Inc. (NASDAQ:UCTT) by 8.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,215 shares of the semiconductor company’s stock after selling 605 shares during the quarter. Kendall Capital Management’s holdings in Ultra Clean were worth $305,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC boosted its position in Ultra Clean by 52.1% during the second quarter. GAMMA Investing LLC now owns 622 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 213 shares during the last quarter. CWM LLC raised its holdings in shares of Ultra Clean by 46.3% in the 2nd quarter. CWM LLC now owns 800 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 253 shares during the last quarter. SummerHaven Investment Management LLC raised its holdings in shares of Ultra Clean by 1.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 19,993 shares of the semiconductor company’s stock worth $980,000 after acquiring an additional 331 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in Ultra Clean by 1.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 22,600 shares of the semiconductor company’s stock valued at $1,107,000 after buying an additional 400 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Ultra Clean by 19.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,164 shares of the semiconductor company’s stock valued at $108,000 after buying an additional 514 shares during the last quarter. Institutional investors own 96.06% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on UCTT. Needham & Company LLC reissued a “buy” rating and set a $56.00 target price on shares of Ultra Clean in a research report on Friday, July 26th. TD Cowen raised their price objective on shares of Ultra Clean from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Craig Hallum increased their target price on shares of Ultra Clean from $52.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Ultra Clean currently has an average rating of “Moderate Buy” and an average target price of $58.67.

Insider Activity

In other news, CEO James P. Scholhamer sold 26,608 shares of the firm’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $55.10, for a total transaction of $1,466,100.80. Following the sale, the chief executive officer now owns 418,453 shares in the company, valued at approximately $23,056,760.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO James P. Scholhamer sold 26,608 shares of the firm’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $55.10, for a total transaction of $1,466,100.80. Following the sale, the chief executive officer now owns 418,453 shares in the company, valued at approximately $23,056,760.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Sheri Savage sold 897 shares of the firm’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $55.87, for a total transaction of $50,115.39. Following the sale, the chief financial officer now owns 51,678 shares in the company, valued at approximately $2,887,249.86. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,266 shares of company stock worth $2,556,853. 2.20% of the stock is currently owned by corporate insiders.

Ultra Clean Stock Performance

NASDAQ UCTT opened at $34.87 on Friday. Ultra Clean Holdings, Inc. has a 1 year low of $22.15 and a 1 year high of $56.47. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.73 and a quick ratio of 1.60. The stock has a market capitalization of $1.57 billion, a PE ratio of -42.52 and a beta of 2.09. The company’s 50 day simple moving average is $39.56 and its two-hundred day simple moving average is $43.55.

Ultra Clean (NASDAQ:UCTT) last posted its quarterly earnings data on Thursday, July 25th. The semiconductor company reported $0.21 earnings per share for the quarter. The firm had revenue of $516.10 million for the quarter, compared to analysts’ expectations of $490.06 million. Ultra Clean had a negative net margin of 0.46% and a positive return on equity of 2.59%. The business’s quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter last year, the company posted $0.16 EPS.

About Ultra Clean

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.