Quest Partners LLC Increases Stock Position in Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

Quest Partners LLC increased its position in shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT) by 4,602.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,866 shares of the semiconductor company’s stock after purchasing an additional 6,720 shares during the quarter. Quest Partners LLC’s holdings in Ultra Clean were worth $274,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in shares of Ultra Clean by 52.1% in the 2nd quarter. GAMMA Investing LLC now owns 622 shares of the semiconductor company’s stock worth $30,000 after buying an additional 213 shares during the last quarter. Signaturefd LLC raised its position in Ultra Clean by 465.5% in the third quarter. Signaturefd LLC now owns 803 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 661 shares during the period. CWM LLC boosted its stake 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 acquiring an additional 253 shares during the last quarter. Innealta Capital LLC bought a new position in shares of Ultra Clean during the 2nd quarter valued at approximately $41,000. Finally, nVerses Capital LLC purchased a new stake in shares of Ultra Clean during the 2nd quarter worth approximately $64,000. Hedge funds and other institutional investors own 96.06% of the company’s stock.

Ultra Clean Stock Performance

Shares of UCTT opened at $37.49 on Wednesday. Ultra Clean Holdings, Inc. has a 52-week low of $26.25 and a 52-week high of $56.47. The stock’s 50-day simple moving average is $36.72 and its 200 day simple moving average is $41.27. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.63 and a current ratio of 2.75. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of 468.63 and a beta of 2.08.

Ultra Clean (NASDAQ:UCTT) last released its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The company had revenue of $540.40 million during the quarter, compared to analyst estimates of $515.88 million. Ultra Clean had a net margin of 0.18% and a return on equity of 4.08%. Ultra Clean’s revenue was up 24.2% compared to the same quarter last year. During the same period last year, the business earned ($0.03) earnings per share. Research analysts forecast that Ultra Clean Holdings, Inc. will post 1.09 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Jeffrey L. Mckibben sold 3,422 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $38.20, for a total transaction of $130,720.40. Following the sale, the insider now owns 18,805 shares in the company, valued at approximately $718,351. This trade represents a 15.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Harjinder Bajwa bought 2,500 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was bought at an average price of $33.33 per share, with a total value 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. This represents a 9.33 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 27,500 shares of company stock worth $943,275. Corporate insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

UCTT has been the subject of several research reports. Needham & Company LLC cut their price target on Ultra Clean from $50.00 to $44.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. TD Cowen dropped their price objective on shares of Ultra Clean from $60.00 to $57.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Finally, Oppenheimer started coverage on shares of Ultra Clean in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $70.00 target price for the company. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $57.75.

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.