Ultra Clean Holdings, Inc. (NASDAQ:UCTT) Shares Sold by State Street Corp

State Street Corp reduced its stake in shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT) by 0.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,748,079 shares of the semiconductor company’s stock after selling 3,927 shares during the period. State Street Corp owned approximately 3.88% of Ultra Clean worth $69,801,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Signaturefd LLC raised its holdings in shares of Ultra Clean by 465.5% during the third quarter. Signaturefd LLC now owns 803 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 661 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Ultra Clean during the third quarter worth $32,000. CWM LLC raised its holdings in shares of Ultra Clean by 46.3% during the second quarter. CWM LLC now owns 800 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 253 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of Ultra Clean during the second quarter worth $41,000. Finally, GAMMA Investing LLC raised its holdings in shares of Ultra Clean by 92.4% during the third quarter. GAMMA Investing LLC now owns 1,197 shares of the semiconductor company’s stock worth $48,000 after purchasing an additional 575 shares during the last quarter. 96.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on UCTT shares. TD Cowen reduced their target price 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. Oppenheimer started coverage on shares of Ultra Clean in a report on Wednesday, September 25th. They issued an “outperform” rating and a $70.00 price objective for the company. Finally, Needham & Company LLC cut their price objective on shares of Ultra Clean from $50.00 to $44.00 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, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $57.75.

Insider Activity

In related news, insider Jeffrey L. Mckibben sold 3,422 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $38.20, for a total transaction of $130,720.40. Following the transaction, the insider now directly owns 18,805 shares in the company, valued at approximately $718,351. The trade was a 15.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Harjinder Bajwa purchased 2,500 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were acquired at an average price of $33.33 per share, for a total transaction of $83,325.00. Following the completion of the transaction, the chief operating officer now directly owns 29,291 shares of the company’s stock, valued at $976,269.03. The trade was a 9.33 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 27,500 shares of company stock worth $943,275 over the last 90 days. 2.20% of the stock is currently owned by company insiders.

Ultra Clean Stock Down 1.3 %

UCTT opened at $37.08 on Wednesday. The company has a fifty day moving average of $36.95 and a two-hundred day moving average of $40.53. Ultra Clean Holdings, Inc. has a fifty-two week low of $30.81 and a fifty-two week high of $56.47. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 463.50 and a beta of 2.09. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.63 and a current ratio of 2.75.

Ultra Clean (NASDAQ:UCTT) last announced its earnings results on Monday, October 28th. The semiconductor company reported $0.35 earnings per share (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 quarter last year, the business earned ($0.03) earnings per share. The company’s revenue for the quarter was up 24.2% compared to the same quarter last year. On average, research analysts expect that Ultra Clean Holdings, Inc. will post 1.09 earnings per share for the current 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.