The Manufacturers Life Insurance Company Purchases 929 Shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

The Manufacturers Life Insurance Company increased its stake in Ultra Clean Holdings, Inc. (NASDAQ:UCTT) by 3.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,499 shares of the semiconductor company’s stock after buying an additional 929 shares during the period. The Manufacturers Life Insurance Company owned 0.05% of Ultra Clean worth $1,200,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in UCTT. Fisher Asset Management LLC increased its stake in Ultra Clean by 0.8% in the 4th quarter. Fisher Asset Management LLC now owns 167,345 shares of the semiconductor company’s stock worth $5,713,000 after buying an additional 1,249 shares during the period. Vanguard Group Inc. increased its stake in Ultra Clean by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 4,360,555 shares of the semiconductor company’s stock worth $148,869,000 after buying an additional 148,819 shares during the period. 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 worth $108,000 after buying an additional 514 shares during the period. Vaughan Nelson Investment Management L.P. increased its position in Ultra Clean by 47.6% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 808,723 shares of the semiconductor company’s stock valued at $37,152,000 after purchasing an additional 260,740 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new position in Ultra Clean during the 1st quarter valued at about $96,000. Hedge funds and other institutional investors own 96.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. TD Cowen raised their target price on shares of Ultra Clean from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Craig Hallum raised their target price on shares of Ultra Clean from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, July 26th. 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. Finally, Oppenheimer began coverage on shares of Ultra Clean in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $70.00 price objective on the stock. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $61.50.

Ultra Clean Price Performance

Shares of NASDAQ UCTT opened at $39.68 on Friday. 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 firm’s 50 day simple moving average is $36.76 and its 200-day simple moving average is $42.83. Ultra Clean Holdings, Inc. has a 12 month low of $22.15 and a 12 month high of $56.47. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of -48.39 and a beta of 2.08.

Ultra Clean (NASDAQ:UCTT) last posted its earnings results on Thursday, July 25th. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter. Ultra Clean had a negative net margin of 0.46% and a positive return on equity of 2.59%. The business had revenue of $516.10 million for the quarter, compared to analyst estimates of $490.06 million. During the same period in the prior year, the company posted $0.16 EPS. The company’s revenue for the quarter was up 22.4% on a year-over-year basis. Analysts expect that Ultra Clean Holdings, Inc. will post 1.1 EPS 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.