Insider Buying: Ultra Clean Holdings, Inc. (NASDAQ:UCTT) COO Purchases $83,325.00 in Stock

Ultra Clean Holdings, Inc. (NASDAQ:UCTT) COO Harjinder Bajwa bought 2,500 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was bought 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 directly owns 29,291 shares in the company, valued at approximately $976,269.03. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Ultra Clean Stock Performance

NASDAQ UCTT opened at $37.55 on Thursday. The company has a market cap of $1.69 billion, a P/E ratio of 469.43 and a beta of 2.08. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.75 and a quick ratio of 1.63. The stock has a 50-day moving average of $36.29 and a two-hundred day moving average of $41.76. Ultra Clean Holdings, Inc. has a 1-year low of $24.39 and a 1-year high of $56.47.

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, beating the consensus estimate 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%. Ultra Clean’s revenue was up 24.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.03) EPS. As a group, analysts anticipate that Ultra Clean Holdings, Inc. will post 1.09 EPS for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on the company. TD Cowen cut 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. Craig Hallum raised their price objective on Ultra Clean from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Oppenheimer initiated coverage on Ultra Clean in a research report on Wednesday, September 25th. They set an “outperform” rating and a $70.00 price objective for the company. Finally, Needham & Company LLC cut their price objective on Ultra Clean from $50.00 to $44.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $57.75.

Hedge Funds Weigh In On Ultra Clean

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vaughan Nelson Investment Management L.P. lifted its stake in Ultra Clean by 6.4% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 860,798 shares of the semiconductor company’s stock worth $42,179,000 after purchasing an additional 52,075 shares during the last quarter. Comerica Bank lifted its stake in Ultra Clean by 512.5% during the first quarter. Comerica Bank now owns 134,289 shares of the semiconductor company’s stock worth $6,169,000 after purchasing an additional 112,366 shares during the last quarter. Harbor Capital Advisors Inc. lifted 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 worth $14,663,000 after purchasing an additional 207,633 shares during the last quarter. Lodestar Private Asset Management LLC purchased a new stake in Ultra Clean during the third quarter worth approximately $885,000. Finally, Assenagon Asset Management S.A. lifted its stake in Ultra Clean by 454.2% during the third quarter. Assenagon Asset Management S.A. now owns 335,096 shares of the semiconductor company’s stock worth $13,380,000 after purchasing an additional 274,628 shares during the last quarter. Hedge funds and other institutional investors own 96.06% of the company’s stock.

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.