Assenagon Asset Management S.A. Sells 53,711 Shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

Assenagon Asset Management S.A. lowered its position in Ultra Clean Holdings, Inc. (NASDAQ:UCTT - Free Report) by 24.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 162,482 shares of the semiconductor company's stock after selling 53,711 shares during the period. Assenagon Asset Management S.A. owned 0.36% of Ultra Clean worth $3,479,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. New York State Common Retirement Fund grew its holdings in Ultra Clean by 132.6% during the 4th quarter. New York State Common Retirement Fund now owns 36,225 shares of the semiconductor company's stock worth $1,302,000 after acquiring an additional 20,650 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Ultra Clean by 694.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 977 shares of the semiconductor company's stock worth $35,000 after purchasing an additional 854 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Ultra Clean by 3.1% during the fourth quarter. Principal Financial Group Inc. now owns 219,821 shares of the semiconductor company's stock worth $7,903,000 after purchasing an additional 6,546 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Ultra Clean by 32.7% during the fourth quarter. Bank of America Corp DE now owns 161,828 shares of the semiconductor company's stock valued at $5,818,000 after purchasing an additional 39,879 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Ultra Clean in the fourth quarter valued at approximately $3,988,000. Institutional investors own 96.06% of the company's stock.

Insiders Place Their Bets

In related news, insider Jeffrey L. Mckibben sold 6,294 shares of the firm's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $20.87, for a total transaction of $131,355.78. Following the sale, the insider now directly owns 21,996 shares in the company, valued at $459,056.52. This trade represents a 22.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Paul Yoonku Cho sold 4,084 shares of Ultra Clean stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $21.06, for a total value of $86,009.04. Following the completion of the sale, the general counsel now directly owns 23,345 shares in the company, valued at $491,645.70. This represents a 14.89% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,878 shares of company stock worth $399,765. Company insiders own 1.90% of the company's stock.

Ultra Clean Trading Up 0.5%

Shares of UCTT stock traded up $0.11 during trading hours on Thursday, reaching $20.37. The company had a trading volume of 443,652 shares, compared to its average volume of 483,999. Ultra Clean Holdings, Inc. has a 1-year low of $16.66 and a 1-year high of $56.47. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.03 and a quick ratio of 1.83. The firm has a market cap of $919.71 million, a price-to-earnings ratio of 32.85, a P/E/G ratio of 0.79 and a beta of 2.05. The company has a 50 day moving average of $20.41 and a 200 day moving average of $28.16.

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Wall Street Zen downgraded Ultra Clean from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. Needham & Company LLC decreased their price target on Ultra Clean from $40.00 to $26.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. TD Cowen lowered their price objective on Ultra Clean from $48.00 to $32.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Finally, Oppenheimer cut 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. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $37.00.

About Ultra Clean

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.