Swedbank AB Reduces Stock Position in Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

Swedbank AB reduced its position in shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT) by 50.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,211,217 shares of the semiconductor company’s stock after selling 1,223,007 shares during the quarter. Swedbank AB’s holdings in Ultra Clean were worth $48,364,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in shares of Ultra Clean by 52.1% during the 2nd 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. CWM LLC increased its position in Ultra Clean by 46.3% in the second quarter. CWM LLC now owns 800 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 253 shares during the last quarter. Truist Financial Corp raised its stake in Ultra Clean by 4.6% during the second quarter. Truist Financial Corp now owns 7,080 shares of the semiconductor company’s stock valued at $347,000 after purchasing an additional 310 shares in the last quarter. SummerHaven Investment Management LLC lifted its position in Ultra Clean by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 19,993 shares of the semiconductor company’s stock valued at $980,000 after purchasing an additional 331 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its holdings in shares of Ultra Clean by 1.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 22,600 shares of the semiconductor company’s stock worth $1,107,000 after buying an additional 400 shares during the last quarter. 96.06% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, COO Harjinder Bajwa bought 2,500 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were bought at an average price of $33.33 per share, for a total transaction of $83,325.00. Following the completion of the purchase, the chief operating officer now directly owns 29,291 shares of the company’s stock, valued at approximately $976,269.03. This trade represents a 9.33 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey L. Mckibben sold 3,422 shares of the 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 sale, the insider now directly owns 18,805 shares of the company’s stock, valued at $718,351. The trade was a 15.40 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders bought 27,500 shares of company stock worth $943,275. 2.20% of the stock is currently owned by company insiders.

Ultra Clean Stock Up 0.3 %

Shares of UCTT opened at $37.30 on Monday. The firm has a market capitalization of $1.68 billion, a P/E ratio of 466.31 and a beta of 2.08. Ultra Clean Holdings, Inc. has a 12-month low of $26.25 and a 12-month high of $56.47. The firm has a fifty day moving average price of $36.63 and a 200-day moving average price of $41.31. 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 issued its earnings results on Monday, October 28th. The semiconductor company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. Ultra Clean had a net margin of 0.18% and a return on equity of 4.08%. The business had revenue of $540.40 million for the quarter, compared to the consensus estimate of $515.88 million. During the same period in the prior year, the firm earned ($0.03) EPS. The company’s revenue for the quarter was up 24.2% compared to the same quarter last year. Equities research analysts expect that Ultra Clean Holdings, Inc. will post 1.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

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