Geode Capital Management LLC Grows Holdings in Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

Geode Capital Management LLC grew its stake in Ultra Clean Holdings, Inc. (NASDAQ:UCTT) by 1.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,047,719 shares of the semiconductor company’s stock after purchasing an additional 10,501 shares during the quarter. Geode Capital Management LLC’s holdings in Ultra Clean were worth $41,843,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of UCTT. Royce & Associates LP raised its stake in Ultra Clean by 7.5% during the third quarter. Royce & Associates LP now owns 908,697 shares of the semiconductor company’s stock valued at $36,284,000 after buying an additional 63,301 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Ultra Clean by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 647,288 shares of the semiconductor company’s stock worth $25,846,000 after purchasing an additional 18,000 shares during the last quarter. Pinnacle Associates Ltd. boosted its holdings in Ultra Clean by 2.1% in the third quarter. Pinnacle Associates Ltd. now owns 420,709 shares of the semiconductor company’s stock worth $16,799,000 after purchasing an additional 8,471 shares during the period. Harbor Capital Advisors Inc. increased its stake in Ultra Clean by 130.1% during the third quarter. Harbor Capital Advisors Inc. now owns 367,212 shares of the semiconductor company’s stock valued at $14,663,000 after purchasing an additional 207,633 shares during the last quarter. Finally, Hood River Capital Management LLC raised its holdings in shares of Ultra Clean by 54.2% during the second quarter. Hood River Capital Management LLC now owns 366,266 shares of the semiconductor company’s stock worth $17,947,000 after purchasing an additional 128,670 shares during the period. 96.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Ultra Clean

In related news, insider Jeffrey L. Mckibben sold 3,422 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 18,805 shares in the company, valued at $718,351. This trade 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 the SEC website. Also, COO Harjinder Bajwa purchased 2,500 shares of the firm’s stock in a transaction on 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 $976,269.03. This represents a 9.33 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 27,500 shares of company stock valued at $943,275. Company insiders own 2.20% of the company’s stock.

Ultra Clean Stock Performance

Shares of NASDAQ UCTT opened at $36.49 on Wednesday. Ultra Clean Holdings, Inc. has a 12-month low of $31.01 and a 12-month high of $56.47. The company has a market cap of $1.64 billion, a PE ratio of 456.18 and a beta of 2.09. The stock has a 50 day simple moving average of $36.61 and a 200-day simple moving average of $40.10. The company has a current ratio of 2.75, a quick ratio of 1.63 and a debt-to-equity ratio of 0.52.

Ultra Clean (NASDAQ:UCTT) last announced its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.35 earnings per share (EPS) 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 analyst estimates 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 firm posted ($0.03) EPS. On average, equities research analysts forecast that Ultra Clean Holdings, Inc. will post 1.09 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on UCTT. Needham & Company LLC decreased their price target 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 began 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. Finally, TD Cowen reduced their price objective on Ultra Clean from $60.00 to $57.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus 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.