Allspring Global Investments Holdings LLC Has $429,000 Stock Position in Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

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

A number of other institutional investors also recently added to or reduced their stakes in UCTT. Shapiro Capital Management LLC boosted its position in Ultra Clean by 66.8% during the 4th quarter. Shapiro Capital Management LLC now owns 2,746,482 shares of the semiconductor company's stock worth $98,736,000 after acquiring an additional 1,099,899 shares during the period. Boston Partners boosted its position in Ultra Clean by 227.1% during 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 period. Goodman Financial Corp acquired a new position in Ultra Clean during the 4th quarter worth $13,900,000. Nuveen Asset Management LLC boosted its position in Ultra Clean by 41.3% during the 4th quarter. Nuveen Asset Management LLC now owns 714,504 shares of the semiconductor company's stock worth $25,686,000 after acquiring an additional 208,910 shares during the period. Finally, Oberweis Asset Management Inc. boosted its position in Ultra Clean by 39.4% during the 4th quarter. Oberweis Asset Management Inc. now owns 613,300 shares of the semiconductor company's stock worth $22,048,000 after acquiring an additional 173,200 shares during the period. Institutional investors and hedge funds own 96.06% of the company's stock.

Ultra Clean Stock Down 0.3%

Shares of UCTT stock traded down $0.07 on Friday, reaching $24.95. 254,776 shares of the company's stock traded hands, compared to its average volume of 493,363. Ultra Clean Holdings, Inc. has a 12-month low of $16.66 and a 12-month high of $56.47. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.83 and a current ratio of 3.03. The company has a market capitalization of $1.13 billion, a P/E ratio of 40.24, a price-to-earnings-growth ratio of 0.98 and a beta of 2.07. The business's 50 day moving average price is $21.55 and its two-hundred day moving average price is $26.41.

Ultra Clean (NASDAQ:UCTT - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The semiconductor company reported $0.28 earnings per share for the quarter, missing analysts' consensus estimates of $0.31 by ($0.03). Ultra Clean had a net margin of 1.31% and a return on equity of 5.50%. The business had revenue of $518.60 million for the quarter, compared to analysts' expectations of $526.13 million. During the same quarter in the prior year, the firm posted $0.27 EPS. The business's quarterly revenue was up 8.6% compared to the same quarter last year. On average, equities analysts forecast that Ultra Clean Holdings, Inc. will post 1.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

UCTT has been the topic of a number of research reports. Wall Street Zen downgraded Ultra Clean from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. Oppenheimer dropped their price objective on Ultra Clean from $60.00 to $30.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. TD Cowen dropped their price objective on Ultra Clean from $48.00 to $32.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Finally, Needham & Company LLC dropped their price objective 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. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $37.00.

Insider Transactions at Ultra Clean

In related news, SVP Jamie J. Palfrey sold 9,500 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $19.20, for a total transaction of $182,400.00. Following the completion of the transaction, the senior vice president owned 30,465 shares of the company's stock, valued at approximately $584,928. The trade was a 23.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Paul Yoonku Cho sold 4,084 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $21.06, for a total value of $86,009.04. Following the transaction, the general counsel directly owned 23,345 shares of the company's stock, valued at $491,645.70. This represents a 14.89% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,878 shares of company stock worth $399,765. 1.90% of the stock is owned by corporate insiders.

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.