Ultra Clean Holdings, Inc. (NASDAQ:UCTT) Stake Reduced by Millennium Management LLC

Millennium Management LLC decreased its position in Ultra Clean Holdings, Inc. (NASDAQ:UCTT - Free Report) by 38.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 162,791 shares of the semiconductor company's stock after selling 100,205 shares during the quarter. Millennium Management LLC owned 0.36% of Ultra Clean worth $5,852,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. New York State Common Retirement Fund grew its position in shares of Ultra Clean by 132.6% during the fourth quarter. New York State Common Retirement Fund now owns 36,225 shares of the semiconductor company's stock worth $1,302,000 after buying an additional 20,650 shares in the last quarter. Smartleaf Asset Management LLC grew 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 buying an additional 854 shares in the last quarter. Principal Financial Group Inc. grew 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 buying an additional 6,546 shares in the last quarter. Barclays PLC grew its position in shares of Ultra Clean by 395.1% during the third quarter. Barclays PLC now owns 83,577 shares of the semiconductor company's stock worth $3,337,000 after buying an additional 66,695 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Ultra Clean during the fourth quarter worth approximately $3,988,000. Institutional investors and hedge funds own 96.06% of the company's stock.

Ultra Clean Stock Performance

UCTT traded down $0.80 during trading hours on Friday, hitting $19.39. 529,702 shares of the stock were exchanged, compared to its average volume of 466,366. The stock has a 50-day simple moving average of $20.39 and a 200-day simple moving average of $29.50. Ultra Clean Holdings, Inc. has a 12 month low of $16.66 and a 12 month high of $56.47. The stock has a market cap of $875.44 million, a price-to-earnings ratio of 242.41, a price-to-earnings-growth ratio of 0.51 and a beta of 2.09. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.75 and a quick ratio of 1.63.

Ultra Clean (NASDAQ:UCTT - Get Free Report) last posted its earnings results on Monday, April 28th. The semiconductor company reported $0.28 earnings per share (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 0.18% and a return on equity of 4.08%. The business's quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.27 earnings per share. Analysts anticipate that Ultra Clean Holdings, Inc. will post 1.09 earnings per share for the current year.

Insider Buying and Selling at Ultra Clean

In related news, Director Ernest E. Maddock purchased 10,000 shares of the company's stock in a transaction on Friday, March 7th. The shares were bought at an average cost of $24.29 per share, for a total transaction of $242,900.00. Following the transaction, the director now owns 11,000 shares of the company's stock, valued at $267,190. This represents a 1,000.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Jamie J. Palfrey sold 9,500 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $19.20, for a total transaction of $182,400.00. Following the sale, the senior vice president now owns 30,465 shares in the company, valued at $584,928. This trade represents a 23.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on UCTT. Wall Street Zen cut Ultra Clean from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. TD Cowen cut their price objective on Ultra Clean from $48.00 to $32.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Oppenheimer reduced their price objective on Ultra Clean from $60.00 to $30.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Finally, Needham & Company LLC reduced their price objective on Ultra Clean from $40.00 to $26.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock 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.