Comerica Bank Increases Stock Position in Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

Comerica Bank lifted its holdings in Ultra Clean Holdings, Inc. (NASDAQ:UCTT - Free Report) by 25.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,686 shares of the semiconductor company's stock after purchasing an additional 21,739 shares during the quarter. Comerica Bank owned about 0.24% of Ultra Clean worth $3,871,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in UCTT. Boston Partners raised its stake in Ultra Clean by 227.1% in the 4th quarter. Boston Partners now owns 1,035,214 shares of the semiconductor company's stock worth $37,625,000 after acquiring an additional 718,717 shares during the last quarter. Goodman Financial Corp acquired a new stake in shares of Ultra Clean during the fourth quarter worth about $13,900,000. Oberweis Asset Management Inc. boosted its position in Ultra Clean by 39.4% in the fourth quarter. Oberweis Asset Management Inc. now owns 613,300 shares of the semiconductor company's stock valued at $22,048,000 after buying an additional 173,200 shares during the last quarter. Barclays PLC increased its holdings in Ultra Clean by 172.2% in the 4th quarter. Barclays PLC now owns 227,502 shares of the semiconductor company's stock worth $8,178,000 after buying an additional 143,925 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Ultra Clean by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 4,835,228 shares of the semiconductor company's stock worth $173,826,000 after buying an additional 129,616 shares during the period. 96.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on UCTT shares. StockNews.com lowered shares of Ultra Clean from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. TD Cowen reduced their price objective on Ultra Clean from $48.00 to $32.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Needham & Company LLC lowered their target price on Ultra Clean from $40.00 to $26.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Finally, Oppenheimer reduced their price target on Ultra Clean from $60.00 to $30.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $37.00.

Insider Buying and Selling

In other news, Director Ernest E. Maddock acquired 10,000 shares of Ultra Clean stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of $24.29 per share, with a total value of $242,900.00. Following the purchase, the director now owns 11,000 shares in the company, valued at $267,190. This trade represents a 1,000.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bill Bentinck bought 3,000 shares of the company's stock in a transaction dated Friday, March 7th. The shares were acquired at an average cost of $25.17 per share, with a total value of $75,510.00. Following the acquisition, the insider now directly owns 60,695 shares of the company's stock, valued at approximately $1,527,693.15. This represents a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.20% of the stock is currently owned by insiders.

Ultra Clean Price Performance

NASDAQ UCTT traded down $0.11 during trading hours on Friday, reaching $20.03. The company's stock had a trading volume of 440,596 shares, compared to its average volume of 453,744. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.75 and a quick ratio of 1.63. Ultra Clean Holdings, Inc. has a 1-year low of $16.66 and a 1-year high of $56.47. The company's 50-day moving average is $21.43 and its two-hundred day moving average is $31.09. The firm has a market capitalization of $904.33 million, a price-to-earnings ratio of 250.41, a P/E/G ratio of 0.51 and a beta of 2.09.

Ultra Clean (NASDAQ:UCTT - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The semiconductor company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.03). Ultra Clean had a return on equity of 4.08% and a net margin of 0.18%. The company had revenue of $518.60 million during the quarter, compared to analysts' expectations of $526.13 million. During the same period in the previous year, the firm posted $0.27 EPS. Ultra Clean's revenue was up 8.6% compared to the same quarter last year. On average, equities analysts predict that Ultra Clean Holdings, Inc. will post 1.09 EPS for the current year.

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.