Ultra Clean Holdings, Inc. (NASDAQ:UCTT) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in Ultra Clean Holdings, Inc. (NASDAQ:UCTT - Free Report) by 5.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 280,388 shares of the semiconductor company's stock after selling 17,415 shares during the period. Bank of New York Mellon Corp owned 0.62% of Ultra Clean worth $6,003,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Headlands Technologies LLC purchased a new stake in Ultra Clean in the fourth quarter valued at approximately $26,000. Byrne Asset Management LLC purchased a new stake in Ultra Clean in the first quarter valued at approximately $25,000. Versant Capital Management Inc raised its position in Ultra Clean by 386.9% in the 1st quarter. Versant Capital Management Inc now owns 1,412 shares of the semiconductor company's stock valued at $30,000 after purchasing an additional 1,122 shares during the last quarter. Quarry LP raised its position in Ultra Clean by 58.1% in the 4th quarter. Quarry LP now owns 1,913 shares of the semiconductor company's stock valued at $69,000 after purchasing an additional 703 shares during the last quarter. Finally, Mariner LLC purchased a new stake in Ultra Clean in the 4th quarter valued at $210,000. 96.06% of the stock is owned by hedge funds and other institutional investors.

Ultra Clean Stock Performance

Ultra Clean stock traded up $0.26 during trading hours on Friday, reaching $23.96. 350,400 shares of the stock were exchanged, compared to its average volume of 502,251. The stock has a market cap of $1.08 billion, a P/E ratio of 38.65, a P/E/G ratio of 0.94 and a beta of 2.07. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.83 and a current ratio of 3.03. Ultra Clean Holdings, Inc. has a 52-week low of $16.66 and a 52-week high of $54.00. The firm's 50 day moving average is $22.27 and its 200 day moving average is $25.54.

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

Insider Buying and Selling

In related news, General Counsel Paul Yoonku Cho sold 4,084 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $21.06, for a total transaction of $86,009.04. Following the transaction, the general counsel owned 23,345 shares of the company's stock, valued at $491,645.70. This represents a 14.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Jamie J. Palfrey sold 9,500 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $19.20, for a total transaction of $182,400.00. Following the transaction, the senior vice president directly owned 30,465 shares in the company, valued at approximately $584,928. This trade represents a 23.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,878 shares of company stock valued at $399,765 over the last quarter. Company insiders own 1.90% of the company's stock.

Analysts Set New Price Targets

UCTT has been the subject of several research reports. TD Cowen reduced their price target on shares of Ultra Clean from $48.00 to $32.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Wall Street Zen downgraded Ultra Clean from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. Needham & Company LLC reduced their price objective on Ultra Clean from $40.00 to $26.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Finally, Oppenheimer reduced their price objective on Ultra Clean from $60.00 to $30.00 and set an "outperform" rating for the company in a research note on Friday, April 11th.

Ultra Clean 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.