Bank of America Corp DE Grows Stock Position in Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

Bank of America Corp DE boosted its stake in shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT - Free Report) by 32.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 161,828 shares of the semiconductor company's stock after buying an additional 39,879 shares during the period. Bank of America Corp DE owned approximately 0.36% of Ultra Clean worth $5,818,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Algert Global LLC raised its holdings in Ultra Clean by 81.4% during the 4th quarter. Algert Global LLC now owns 154,320 shares of the semiconductor company's stock valued at $5,548,000 after buying an additional 69,256 shares during the period. Comerica Bank increased its stake in Ultra Clean by 25.3% in the fourth quarter. Comerica Bank now owns 107,686 shares of the semiconductor company's stock worth $3,871,000 after purchasing an additional 21,739 shares during the period. AQR Capital Management LLC increased its stake in Ultra Clean by 109.9% in the fourth quarter. AQR Capital Management LLC now owns 170,101 shares of the semiconductor company's stock worth $6,115,000 after purchasing an additional 89,051 shares during the period. Lido Advisors LLC purchased a new stake in Ultra Clean in the fourth quarter worth $228,000. Finally, Northern Trust Corp increased its stake in Ultra Clean by 7.8% in the fourth quarter. Northern Trust Corp now owns 513,810 shares of the semiconductor company's stock worth $18,471,000 after purchasing an additional 37,230 shares during the period. Hedge funds and other institutional investors own 96.06% of the company's stock.

Ultra Clean Stock Down 4.0%

Shares of UCTT traded down $0.80 during midday trading on Friday, reaching $19.39. 529,702 shares of the stock were exchanged, compared to its average volume of 466,366. Ultra Clean Holdings, Inc. has a 52 week low of $16.66 and a 52 week high of $56.47. The company has a current ratio of 2.75, a quick ratio of 1.63 and a debt-to-equity ratio of 0.52. The company's 50 day moving average is $20.39 and its two-hundred day moving average is $29.50. The company has a market capitalization of $875.44 million, a P/E ratio of 242.41, a PEG ratio of 0.51 and a beta of 2.09.

Ultra Clean (NASDAQ:UCTT - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The semiconductor company reported $0.28 earnings per share for the quarter, missing analysts' consensus estimates of $0.31 by ($0.03). Ultra Clean had a net margin of 0.18% and a return on equity of 4.08%. The company had revenue of $518.60 million for the quarter, compared to the consensus estimate of $526.13 million. During the same period in the previous year, the business earned $0.27 EPS. Ultra Clean's revenue for the quarter was up 8.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Ultra Clean Holdings, Inc. will post 1.09 earnings per share for the current year.

Insider Activity at Ultra Clean

In other Ultra Clean news, SVP Jamie J. Palfrey sold 9,500 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $19.20, for a total value of $182,400.00. Following the completion of the sale, the senior vice president now directly owns 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Bill Bentinck purchased 3,000 shares of the firm's stock in a transaction on Friday, March 7th. The stock was acquired at an average price of $25.17 per share, with a total value of $75,510.00. Following the completion of the purchase, the insider now owns 60,695 shares of the company's stock, valued at $1,527,693.15. The trade was a 5.20% increase in their position. The disclosure for this purchase can be found here. 2.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on UCTT shares. Needham & Company LLC reduced their target price 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. Wall Street Zen lowered Ultra Clean from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. Oppenheimer reduced their target price 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, TD Cowen dropped their price target on Ultra Clean from $48.00 to $32.00 and set a "buy" rating on the stock in a research report 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. According to data from MarketBeat.com, the company currently has a consensus 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.