Cornercap Investment Counsel Inc. Takes $527,000 Position in Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

Cornercap Investment Counsel Inc. bought a new stake in shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 13,194 shares of the semiconductor company’s stock, valued at approximately $527,000.

Several other large investors have also recently made changes to their positions in UCTT. Swedbank AB purchased a new stake in Ultra Clean in the 1st quarter worth about $111,828,000. Assenagon Asset Management S.A. increased its holdings in Ultra Clean by 454.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 335,096 shares of the semiconductor company’s stock worth $13,380,000 after acquiring an additional 274,628 shares during the last quarter. Hood River Capital Management LLC purchased a new stake in Ultra Clean in the 1st quarter worth about $10,915,000. Harbor Capital Advisors Inc. increased its holdings in Ultra Clean by 130.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 367,212 shares of the semiconductor company’s stock worth $14,663,000 after acquiring an additional 207,633 shares during the last quarter. Finally, Comerica Bank increased its holdings in Ultra Clean by 512.5% in the 1st quarter. Comerica Bank now owns 134,289 shares of the semiconductor company’s stock worth $6,169,000 after acquiring an additional 112,366 shares during the last quarter. 96.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on UCTT. Craig Hallum lifted their price objective on Ultra Clean from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, July 26th. 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. Oppenheimer began coverage on Ultra Clean in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $70.00 target price for the company. Finally, Needham & Company LLC cut their target price 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. Four analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $57.75.

Insider Activity

In related news, insider Jeffrey L. Mckibben sold 3,422 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $38.20, for a total value of $130,720.40. Following the completion of the sale, the insider now owns 18,805 shares in the company, valued at $718,351. The trade was a 15.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Harjinder Bajwa bought 2,500 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was purchased at an average price of $33.33 per share, with a total value of $83,325.00. Following the transaction, the chief operating officer now directly owns 29,291 shares in the company, 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. Corporate insiders own 2.20% of the company’s stock.

Ultra Clean Stock Down 3.2 %

Shares of NASDAQ UCTT opened at $33.97 on Friday. The company has a market cap of $1.53 billion, a P/E ratio of 424.68 and a beta of 2.08. The company has a quick ratio of 1.63, a current ratio of 2.75 and a debt-to-equity ratio of 0.52. The business has a 50-day simple moving average of $36.38 and a two-hundred day simple moving average of $41.54. Ultra Clean Holdings, Inc. has a 52 week low of $25.65 and a 52 week high of $56.47.

Ultra Clean (NASDAQ:UCTT) last issued its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The firm 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 company’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.03) EPS. Research analysts anticipate that Ultra Clean Holdings, Inc. will post 1.09 earnings per share for the current fiscal year.

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.