Millennium Management LLC purchased a new position in shares of Ultra Clean Holdings Inc (NASDAQ:UCTT) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 13,799 shares of the semiconductor company’s stock, valued at approximately $117,000.
A number of other hedge funds have also made changes to their positions in the business. Thrivent Financial for Lutherans boosted its position in Ultra Clean by 239.3% during the 4th quarter. Thrivent Financial for Lutherans now owns 91,482 shares of the semiconductor company’s stock worth $774,000 after acquiring an additional 64,520 shares during the period. Jane Street Group LLC bought a new stake in shares of Ultra Clean in the 4th quarter worth $107,000. Municipal Employees Retirement System of Michigan bought a new stake in shares of Ultra Clean in the 4th quarter worth $895,000. Metropolitan Life Insurance Co. NY raised its stake in shares of Ultra Clean by 273.4% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 12,360 shares of the semiconductor company’s stock worth $105,000 after buying an additional 9,050 shares in the last quarter. Finally, Divisar Capital Management LLC raised its stake in shares of Ultra Clean by 262.0% in the 4th quarter. Divisar Capital Management LLC now owns 2,099,886 shares of the semiconductor company’s stock worth $17,786,000 after buying an additional 1,519,784 shares in the last quarter. Institutional investors own 94.70% of the company’s stock.
A number of analysts have recently commented on UCTT shares. Craig Hallum raised Ultra Clean from a “hold” rating to a “buy” rating in a research note on Monday, March 11th. They noted that the move was a valuation call. BidaskClub raised Ultra Clean from a “hold” rating to a “buy” rating in a research note on Tuesday, February 5th. Needham & Company LLC reissued a “buy” rating and issued a $15.00 price objective (up previously from $13.00) on shares of Ultra Clean in a research note on Friday, February 22nd. Dougherty & Co reissued a “buy” rating and issued a $18.50 price objective (up previously from $17.00) on shares of Ultra Clean in a research note on Friday, May 3rd. Finally, ValuEngine raised Ultra Clean from a “sell” rating to a “hold” rating in a research note on Tuesday, February 5th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $19.70.
Ultra Clean (NASDAQ:UCTT) last announced its earnings results on Thursday, May 2nd. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.08. The company had revenue of $260.00 million for the quarter, compared to analyst estimates of $240.71 million. Ultra Clean had a return on equity of 11.20% and a net margin of 1.20%. Ultra Clean’s revenue for the quarter was down 17.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.67 earnings per share. On average, research analysts forecast that Ultra Clean Holdings Inc will post 0.82 EPS for the current year.
In related news, Director Clarence L. Granger bought 21,000 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were bought at an average cost of $13.49 per share, with a total value of $283,290.00. Following the completion of the transaction, the director now directly owns 170,098 shares of the company’s stock, valued at $2,294,622.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sheri Savage sold 30,000 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $10.17, for a total value of $305,100.00. Following the sale, the chief financial officer now directly owns 135,491 shares in the company, valued at $1,377,943.47. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.
About Ultra Clean
Ultra Clean Holdings, Inc designs, develops, prototypes, engineers, manufactures, and tests production tools, modules, and subsystems for the semiconductor and display capital equipment industries primarily in North America, Asia, and Europe. It offers precision robotic systems that are used when accurate controlled motion is required; gas delivery systems, which include one or more gas lines consisting of small diameter internally polished stainless steel tubing products, filters, mass flow controllers, regulators, pressure transducers and valves, component heaters, and an integrated electronic and/or pneumatic control system; and various industrial and automation production equipment products.
Further Reading: Rule of 72
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