Louisiana State Employees Retirement System Has $870,000 Stock Position in Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

Louisiana State Employees Retirement System cut its stake in Ultra Clean Holdings, Inc. (NASDAQ:UCTT) by 3.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,800 shares of the semiconductor company’s stock after selling 800 shares during the period. Louisiana State Employees Retirement System’s holdings in Ultra Clean were worth $870,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of UCTT. GAMMA Investing LLC raised its stake in Ultra Clean by 52.1% during the second quarter. GAMMA Investing LLC now owns 622 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 213 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Ultra Clean by 465.5% in the 3rd 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. CWM LLC increased its position in shares of Ultra Clean by 46.3% during the 2nd quarter. CWM LLC now owns 800 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 253 shares in the last quarter. Innealta Capital LLC bought a new position in Ultra Clean during the 2nd quarter valued at about $41,000. Finally, nVerses Capital LLC acquired a new position in Ultra Clean in the second quarter valued at about $64,000. Institutional investors own 96.06% of the company’s stock.

Ultra Clean Stock Performance

UCTT stock opened at $34.33 on Monday. The company has a 50 day moving average price of $36.37 and a 200 day moving average price of $41.86. Ultra Clean Holdings, Inc. has a fifty-two week low of $24.39 and a fifty-two week high of $56.47. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.75 and a quick ratio of 1.60. The stock has a market capitalization of $1.55 billion, a PE ratio of 429.18 and a beta of 2.08.

Ultra Clean (NASDAQ:UCTT) last released its earnings results on Monday, October 28th. The semiconductor company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The company had revenue of $540.40 million during the quarter, compared to the consensus estimate of $515.88 million. Ultra Clean had a return on equity of 4.08% and a net margin of 0.18%. The firm’s quarterly revenue was up 24.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.03) earnings per share. Analysts forecast that Ultra Clean Holdings, Inc. will post 1.09 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on UCTT. Needham & Company LLC dropped 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. Oppenheimer started coverage on Ultra Clean in a report on Wednesday, September 25th. They set an “outperform” rating and a $70.00 price target for the company. Craig Hallum boosted their price objective on Ultra Clean from $52.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, TD Cowen lowered their target price on Ultra Clean from $60.00 to $57.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $57.75.

Ultra Clean Company 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.