Federated Hermes Inc. Raises Stake in Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

Key Points

• Federated Hermes Inc. increased its stake in Ultra Clean Holdings by 104.8%, now holding 58,470 shares valued at approximately $1.25 million.
• Other institutional investors also significantly increased their positions in Ultra Clean, with Shapiro Capital Management boosting its holdings by 66.8% to become a major stakeholder.
• Analysts have mixed views on Ultra Clean, with Needham & Company raising the target price to $30.00 while Oppenheimer lowered theirs to $30.00 with an 'outperform' rating.

Federated Hermes Inc. lifted its stake in Ultra Clean Holdings, Inc. (NASDAQ:UCTT - Free Report) by 104.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 58,470 shares of the semiconductor company's stock after acquiring an additional 29,925 shares during the quarter. Federated Hermes Inc. owned 0.13% of Ultra Clean worth $1,252,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in UCTT. LPL Financial LLC lifted its holdings in shares of Ultra Clean by 6.2% in the 4th quarter. LPL Financial LLC now owns 25,876 shares of the semiconductor company's stock worth $930,000 after acquiring an additional 1,504 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Ultra Clean by 10.0% during the 4th quarter. JPMorgan Chase & Co. now owns 556,556 shares of the semiconductor company's stock worth $20,008,000 after buying an additional 50,449 shares in the last quarter. Pictet Asset Management Holding SA acquired a new stake in Ultra Clean during the 4th quarter worth approximately $247,000. Alliancebernstein L.P. lifted its holdings in Ultra Clean by 5.8% during the 4th quarter. Alliancebernstein L.P. now owns 59,815 shares of the semiconductor company's stock worth $2,150,000 after buying an additional 3,277 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Ultra Clean during the 4th quarter worth approximately $26,000. 96.06% of the stock is currently owned by institutional investors and hedge funds.

Ultra Clean Stock Up 1.4%

Shares of NASDAQ:UCTT traded up $0.31 during trading hours on Friday, reaching $23.20. The stock had a trading volume of 395,766 shares, compared to its average volume of 516,266. Ultra Clean Holdings, Inc. has a 1 year low of $16.66 and a 1 year high of $41.90. The firm's 50 day moving average is $22.82 and its 200-day moving average is $24.52. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.86 and a current ratio of 3.06. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -6.86, a P/E/G ratio of 0.91 and a beta of 1.99.

Ultra Clean (NASDAQ:UCTT - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The semiconductor company reported $0.27 EPS for the quarter, meeting analysts' consensus estimates of $0.27. Ultra Clean had a negative net margin of 7.15% and a positive return on equity of 5.32%. The company had revenue of $518.80 million for the quarter, compared to the consensus estimate of $500.83 million. During the same period in the prior year, the firm posted $0.32 EPS. The company's quarterly revenue was up .5% compared to the same quarter last year. Research analysts predict that Ultra Clean Holdings, Inc. will post 1.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. TD Cowen reduced their target price 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. Wall Street Zen lowered shares of Ultra Clean from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. Finally, Needham & Company LLC increased their target price on shares of Ultra Clean from $26.00 to $30.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th.

Insider Buying and Selling

In related news, insider Jeffrey L. Mckibben sold 6,294 shares of the stock in a transaction 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 transaction, the insider directly owned 21,996 shares of the company's stock, valued at $459,056.52. This trade represents a 22.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Paul Yoonku Cho sold 4,084 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $21.06, for a total transaction of $86,009.04. Following the completion of the transaction, the general counsel directly owned 23,345 shares in the company, valued at $491,645.70. This trade represents a 14.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company's stock.

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.