Allspring Global Investments Holdings LLC Lowers Stake in Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

Allspring Global Investments Holdings LLC reduced its position in shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT - Free Report) by 56.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,426 shares of the semiconductor company's stock after selling 26,155 shares during the period. Allspring Global Investments Holdings LLC's holdings in Ultra Clean were worth $429,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Ellevest Inc. raised its position in shares of Ultra Clean by 3.5% during the 4th quarter. Ellevest Inc. now owns 13,263 shares of the semiconductor company's stock valued at $477,000 after buying an additional 445 shares in the last quarter. Bank of Montreal Can raised its position in shares of Ultra Clean by 6.4% during the 4th quarter. Bank of Montreal Can now owns 7,957 shares of the semiconductor company's stock valued at $286,000 after buying an additional 478 shares in the last quarter. Counterpoint Mutual Funds LLC raised its position in shares of Ultra Clean by 5.5% during the 4th quarter. Counterpoint Mutual Funds LLC now owns 12,182 shares of the semiconductor company's stock valued at $438,000 after buying an additional 631 shares in the last quarter. Quarry LP raised its position in shares of Ultra Clean by 58.1% during the 4th quarter. Quarry LP now owns 1,913 shares of the semiconductor company's stock valued at $69,000 after buying an additional 703 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Ultra Clean during the 4th quarter valued at about $26,000. 96.06% of the stock is currently owned by hedge funds and other institutional investors.

Ultra Clean Trading Down 1.5%

NASDAQ:UCTT traded down $0.37 during mid-day trading on Monday, hitting $24.58. 324,136 shares of the stock traded hands, compared to its average volume of 492,686. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 39.65, a PEG ratio of 0.98 and a beta of 2.07. Ultra Clean Holdings, Inc. has a 52 week low of $16.66 and a 52 week high of $56.47. The firm's 50 day moving average is $21.55 and its two-hundred day moving average is $26.34. The company has a quick ratio of 1.83, a current ratio of 3.03 and a debt-to-equity ratio of 0.50.

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 net margin of 1.31% and a return on equity of 5.50%. The firm had revenue of $518.60 million for the quarter, compared to the consensus estimate of $526.13 million. During the same quarter in the previous year, the company posted $0.27 earnings per share. The business's revenue for the quarter was up 8.6% on a year-over-year basis. On average, equities research analysts predict that Ultra Clean Holdings, Inc. will post 1.09 earnings per share for the current year.

Wall Street Analyst Weigh In

UCTT has been the topic of several recent research reports. Oppenheimer decreased their target price on shares of Ultra Clean from $60.00 to $30.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Wall Street Zen downgraded shares of Ultra Clean from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. TD Cowen cut their price target on shares of Ultra Clean from $48.00 to $32.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Finally, Needham & Company LLC cut their price target on shares of Ultra Clean from $40.00 to $26.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. According to MarketBeat, Ultra Clean currently has a consensus rating of "Moderate Buy" and a consensus target price of $37.00.

Insider Activity at Ultra Clean

In related news, SVP Jamie J. Palfrey sold 9,500 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $19.20, for a total value of $182,400.00. Following the completion of the sale, the senior vice president owned 30,465 shares in the company, valued at approximately $584,928. The trade was a 23.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey L. Mckibben sold 6,294 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $20.87, for a total value of $131,355.78. Following the completion of the sale, the insider owned 21,996 shares of the company's stock, valued at $459,056.52. The trade was a 22.25% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,878 shares of company stock worth $399,765. Company insiders own 1.90% of the company's stock.

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.