State of Alaska Department of Revenue Sells 668 Shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

State of Alaska Department of Revenue lowered its stake in Ultra Clean Holdings, Inc. (NASDAQ:UCTT) by 2.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 25,698 shares of the semiconductor company’s stock after selling 668 shares during the quarter. State of Alaska Department of Revenue’s holdings in Ultra Clean were worth $1,026,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. GAMMA Investing LLC lifted its position in Ultra Clean by 52.1% in the second quarter. GAMMA Investing LLC now owns 622 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 213 shares during the last quarter. CWM LLC lifted its position in Ultra Clean by 46.3% in the second quarter. CWM LLC now owns 800 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 253 shares during the last quarter. Truist Financial Corp lifted its position in Ultra Clean by 4.6% in the second quarter. Truist Financial Corp now owns 7,080 shares of the semiconductor company’s stock valued at $347,000 after purchasing an additional 310 shares during the last quarter. SummerHaven Investment Management LLC lifted its position in Ultra Clean by 1.7% in the second quarter. SummerHaven Investment Management LLC now owns 19,993 shares of the semiconductor company’s stock valued at $980,000 after purchasing an additional 331 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its holdings in shares of Ultra Clean by 1.8% during the second quarter. Louisiana State Employees Retirement System now owns 22,600 shares of the semiconductor company’s stock valued at $1,107,000 after acquiring an additional 400 shares in the last quarter. Institutional investors own 96.06% of the company’s stock.

Insider Buying and Selling

In related news, COO Harjinder Bajwa bought 2,500 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were purchased at an average cost of $33.33 per share, with a total value of $83,325.00. Following the completion of the purchase, the chief operating officer now owns 29,291 shares in the company, valued at approximately $976,269.03. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on UCTT shares. Craig Hallum upped their target price on Ultra Clean from $52.00 to $60.00 and gave the company a “buy” rating in a report on Friday, July 26th. Oppenheimer started coverage on Ultra Clean in a report on Wednesday, September 25th. They set an “outperform” rating and a $70.00 target price for the company. Needham & Company LLC decreased their target price on Ultra Clean from $50.00 to $44.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. Finally, TD Cowen decreased their target price on Ultra Clean from $60.00 to $57.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $57.75.

Ultra Clean Price Performance

Shares of UCTT stock opened at $34.28 on Tuesday. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 428.55 and a beta of 2.08. The business’s fifty day moving average is $36.37 and its 200 day moving average is $41.86. Ultra Clean Holdings, Inc. has a twelve month low of $24.39 and a twelve month high of $56.47. The company has a quick ratio of 1.60, a current ratio of 2.75 and a debt-to-equity ratio of 0.52.

Ultra Clean (NASDAQ:UCTT) last issued its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. The company had revenue of $540.40 million for 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 for the quarter was up 24.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.03) earnings per share. Research analysts expect that Ultra Clean Holdings, Inc. will post 1.09 EPS for the current fiscal year.

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.