Maverick Capital Ltd. Purchases New Shares in Ultra Clean Holdings, Inc. $UCTT

Key Points

• Maverick Capital initiated a 20,309-share position in Ultra Clean Holdings valued at approximately $1.26 million. Other institutions also added stakes, with institutional investors collectively owning 96.06% of the company.
• Ultra Clean reported quarterly EPS of $0.31, beating estimates of $0.27, while revenue rose 2.9% year over year to $533.7 million. Analysts expect full-year EPS of $2.14.
• Insiders sold 80,106 shares worth $6.73 million over the past three months. Despite the selling, analysts maintain a consensus “Buy” rating with an average price target of $113.40, above the stock’s recent $86.97 price.

Maverick Capital Ltd. acquired a new stake in shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 20,309 shares of the semiconductor company's stock, valued at approximately $1,263,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Quantinno Capital Management LP boosted its stake in shares of Ultra Clean by 5.1% during the 1st quarter. Quantinno Capital Management LP now owns 24,134 shares of the semiconductor company's stock valued at $1,501,000 after purchasing an additional 1,178 shares in the last quarter. Castleark Management LLC bought a new position in Ultra Clean in the first quarter worth about $6,226,000. Absolute Gestao de Investimentos Ltda. bought a new position in Ultra Clean in the first quarter worth about $215,000. Cooper Creek Partners Management LLC purchased a new stake in Ultra Clean in the first quarter worth about $36,486,000. Finally, Lombard Odier Asset Management Europe Ltd bought a new stake in Ultra Clean during the 1st quarter valued at approximately $3,197,000. 96.06% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Sheri Savage sold 15,766 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $89.47, for a total transaction of $1,410,584.02. Following the sale, the chief financial officer directly owned 50,710 shares of the company's stock, valued at approximately $4,537,023.70. This represents a 23.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey L. Mckibben sold 4,205 shares of the firm's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $87.00, for a total transaction of $365,835.00. Following the sale, the insider owned 11,349 shares of the company's stock, valued at approximately $987,363. This represents a 27.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 80,106 shares of company stock valued at $6,734,589. 1.80% of the stock is currently owned by insiders.

Ultra Clean Stock Performance

Shares of UCTT opened at $86.97 on Tuesday. The company has a quick ratio of 1.72, a current ratio of 3.07 and a debt-to-equity ratio of 0.86. The stock has a market cap of $3.90 billion, a P/E ratio of -20.27, a P/E/G ratio of 1.24 and a beta of 1.83. The business's 50 day moving average price is $100.69 and its 200-day moving average price is $74.89. Ultra Clean Holdings, Inc. has a 52 week low of $21.28 and a 52 week high of $144.22.

Ultra Clean (NASDAQ:UCTT - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The semiconductor company reported $0.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.04. Ultra Clean had a positive return on equity of 4.28% and a negative net margin of 9.38%.The business had revenue of $533.70 million during the quarter, compared to analysts' expectations of $525.28 million. During the same quarter in the previous year, the business earned $0.28 earnings per share. The firm's quarterly revenue was up 2.9% compared to the same quarter last year. Equities research analysts anticipate that Ultra Clean Holdings, Inc. will post 2.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Weiss Ratings lowered Ultra Clean from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday. TD Cowen lifted their price target on Ultra Clean from $100.00 to $130.00 and gave the company a "buy" rating in a research report on Thursday, July 9th. UBS Group assumed coverage on Ultra Clean in a research note on Tuesday, May 5th. They issued a "buy" rating and a $130.00 price target on the stock. Needham & Company LLC raised their price objective on Ultra Clean from $70.00 to $92.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Finally, Oppenheimer boosted their target price on shares of Ultra Clean from $100.00 to $115.00 and gave the company an "outperform" rating in a report on Tuesday, June 9th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $113.40.

About Ultra Clean

Ultra Clean Holdings, Inc is a global supplier of critical consumables and process tools for the semiconductor manufacturing industry. The company specializes in precision parts cleaning, chemical–mechanical planarization (CMP) slurries, surface conditioning pads, and specialty components used in wafer fabrication and advanced packaging. Ultra Clean also provides assembly and test hardware, tooling, and automated modules designed to support complex front-end and back-end processes in semiconductor fabs.

Ultra Clean's product portfolio encompasses a range of cleaning systems and consumables aimed at particle and film removal, as well as CMP slurries and pads that are engineered for uniform material removal and planarization.

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