Ultra Clean Holdings, Inc. (NASDAQ:UCTT) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. boosted its stake in Ultra Clean Holdings, Inc. (NASDAQ:UCTT) by 74.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,978 shares of the semiconductor company’s stock after purchasing an additional 3,394 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Ultra Clean were worth $319,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in UCTT. Price T Rowe Associates Inc. MD boosted its position in shares of Ultra Clean by 39.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 29,322 shares of the semiconductor company’s stock worth $1,348,000 after buying an additional 8,265 shares during the period. Comerica Bank grew its position in Ultra Clean by 512.5% in the first quarter. Comerica Bank now owns 134,289 shares of the semiconductor company’s stock valued at $6,169,000 after acquiring an additional 112,366 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Ultra Clean by 52.1% during 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 period. Harbor Capital Advisors Inc. boosted its stake in shares of Ultra Clean by 287.4% in the second quarter. Harbor Capital Advisors Inc. now owns 159,579 shares of the semiconductor company’s stock valued at $7,819,000 after purchasing an additional 118,390 shares during the period. Finally, CWM LLC grew its holdings in Ultra Clean by 46.3% during the 2nd quarter. CWM LLC now owns 800 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 253 shares in the last quarter. 96.06% of the stock is owned by hedge funds and other institutional investors.

Ultra Clean Stock Performance

Shares of Ultra Clean stock opened at $38.43 on Friday. 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 Holdings, Inc. has a 1 year low of $26.50 and a 1 year high of $56.47. The firm’s 50-day simple moving average is $37.00 and its 200-day simple moving average is $41.13. The firm has a market cap of $1.73 billion, a PE ratio of 480.38 and a beta of 2.08.

Ultra Clean (NASDAQ:UCTT) last announced its quarterly earnings data 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. The firm 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%. Ultra Clean’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. Equities analysts forecast that Ultra Clean Holdings, Inc. will post 1.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on UCTT shares. Oppenheimer assumed coverage on shares of Ultra Clean in a report on Wednesday, September 25th. They issued an “outperform” rating and a $70.00 price objective on the stock. Needham & Company LLC cut their price target on Ultra Clean from $50.00 to $44.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Finally, TD Cowen lowered their price objective 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 investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $57.75.

Insider Buying and Selling

In related news, insider Jeffrey L. Mckibben sold 3,422 shares of the 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 sale, the insider now owns 18,805 shares in the company, valued at $718,351. This represents a 15.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Harjinder Bajwa bought 2,500 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was acquired at an average cost of $33.33 per share, for a total transaction of $83,325.00. Following the acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 27,500 shares of company stock worth $943,275 over the last ninety days. 2.20% of the stock is owned by insiders.

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.