Invesco Ltd. Grows Stake in Ultra Clean Holdings, Inc. $UCTT

Key Points

• Invesco Ltd. increased its stake in Ultra Clean Holdings, Inc. by 62.9% during the first quarter, owning 1,681,675 shares valued at approximately $36 million.
• Other institutional investors, including Vanguard and Shapiro Capital Management, also increased their holdings in Ultra Clean, highlighting growing financial interest in the semiconductor company.
• Ultra Clean reported quarterly earnings of $0.27 per share, matching analyst expectations, with revenue of $518.80 million, up 0.5% year-over-year.

Invesco Ltd. raised its position in shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT - Free Report) by 62.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,681,675 shares of the semiconductor company's stock after buying an additional 649,642 shares during the quarter. Invesco Ltd. owned about 3.72% of Ultra Clean worth $36,005,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Ultra Clean by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 4,847,408 shares of the semiconductor company's stock valued at $103,783,000 after buying an additional 12,180 shares in the last quarter. Shapiro Capital Management LLC grew its holdings 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 valued at $98,736,000 after buying an additional 1,099,899 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Ultra Clean by 3.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,406,834 shares of the semiconductor company's stock valued at $86,526,000 after buying an additional 77,307 shares in the last quarter. Nuveen Asset Management LLC grew its holdings 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 valued at $25,686,000 after buying an additional 208,910 shares in the last quarter. Finally, Oberweis Asset Management Inc. grew its holdings 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 valued at $22,048,000 after buying an additional 173,200 shares in the last quarter. Hedge funds and other institutional investors own 96.06% of the company's stock.

Insider Buying and Selling

In related news, insider Jeffrey L. Mckibben sold 6,294 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $20.87, for a total transaction of $131,355.78. Following the completion of the sale, the insider directly owned 21,996 shares of the company's stock, valued at approximately $459,056.52. This trade represents a 22.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Paul Yoonku Cho sold 4,084 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $21.06, for a total value of $86,009.04. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by company insiders.

Ultra Clean Price Performance

NASDAQ:UCTT opened at $23.03 on Tuesday. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of -6.81, a PEG ratio of 0.89 and a beta of 1.99. Ultra Clean Holdings, Inc. has a 1 year low of $16.66 and a 1 year high of $41.90. The business has a 50 day simple moving average of $23.13 and a 200-day simple moving average of $23.92. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.06 and a quick ratio of 1.86.

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on UCTT shares. Needham & Company LLC raised their price target on Ultra Clean from $26.00 to $30.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Wall Street Zen lowered Ultra Clean from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. Finally, 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 note on Tuesday, April 29th.

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.

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