Arlington Capital Management INC Buys 23,366 Shares of Ultra Clean Holdings, Inc. $UCTT

Key Points

• Arlington Capital Management opened a position in Ultra Clean Holdings, buying 23,366 shares worth approximately $1.894 million in the third quarter. The stake represented about 0.05% of the company and 1.1% of Arlington’s portfolio.
• Institutional investors own 96.06% of Ultra Clean shares; several large firms also reported new or increased positions.
• Ultra Clean beat quarterly estimates, reporting EPS of $1.15 versus $0.94 expected and revenue of $759 million, up 48.8% year over year. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $114.

Arlington Capital Management INC purchased a new stake in shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 23,366 shares of the semiconductor company's stock, valued at approximately $1,894,000. Ultra Clean accounts for 1.1% of Arlington Capital Management INC's holdings, making the stock its 26th largest position. Arlington Capital Management INC owned about 0.05% of Ultra Clean at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. bought a new position in shares of Ultra Clean during the second quarter valued at about $986,722,000. Paradigm Capital Management Inc. NY bought a new stake in shares of Ultra Clean in the second quarter worth about $86,723,000. Bank of America Corp DE bought a new stake in shares of Ultra Clean in the second quarter worth about $60,628,000. Assenagon Asset Management S.A. increased its holdings in Ultra Clean by 96.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 278,166 shares of the semiconductor company's stock valued at $39,664,000 after purchasing an additional 136,732 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in Ultra Clean during the 2nd quarter valued at about $38,539,000. 96.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on UCTT shares. Freedom Broker started coverage on Ultra Clean in a research report on Friday, October 9th. They set a "buy" rating and a $127.00 price target for the company. Needham & Company LLC reduced their price target on Ultra Clean from $125.00 to $80.00 and set a "buy" rating for the company in a report on Wednesday, October 28th. Oppenheimer upped their price target on shares of Ultra Clean from $115.00 to $150.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 4th. Zacks Research downgraded shares of Ultra Clean from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 2nd. Finally, Wall Street Zen raised shares of Ultra Clean from a "hold" rating to a "buy" rating in a research report on Sunday, August 9th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Ultra Clean currently has a consensus rating of "Moderate Buy" and an average price target of $114.00.

Ultra Clean Stock Performance

Shares of NASDAQ UCTT opened at $48.02 on Wednesday. The company has a market cap of $2.30 billion, a PE ratio of 23.89, a PEG ratio of 0.45 and a beta of 1.90. The company has a quick ratio of 1.28, a current ratio of 2.79 and a debt-to-equity ratio of 0.78. The firm's 50-day moving average price is $65.52 and its 200-day moving average price is $74.32. Ultra Clean Holdings, Inc. has a 52-week low of $21.49 and a 52-week high of $144.22.

Ultra Clean (NASDAQ:UCTT - Get Free Report) last released its quarterly earnings results on Tuesday, October 27th. The semiconductor company reported $1.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.94 by $0.21. The firm had revenue of $759.00 million for the quarter, compared to the consensus estimate of $727.55 million. Ultra Clean had a return on equity of 12.00% and a net margin of 1.09%. The company's revenue for the quarter was up 48.8% on a year-over-year basis. During the same period last year, the business posted $0.28 EPS. As a group, analysts anticipate that Ultra Clean Holdings, Inc. will post 2.99 EPS for the current year.

About Ultra Clean

Ultra Clean Holdings, Inc NASDAQ: UCTT provides critical subsystems, components and services used in the production of semiconductor and other high-technology products. The company designs and manufactures gas delivery systems, fluid delivery systems, precision-machined components, process modules and other equipment used by semiconductor capital-equipment manufacturers.

Ultra Clean also provides contract manufacturing, analytical laboratory, equipment installation, repair, refurbishment and tool-maintenance services.

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