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

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

A number of other institutional investors also recently modified their holdings of the business. New York State Common Retirement Fund grew its position in Ultra Clean by 132.6% in the fourth quarter. New York State Common Retirement Fund now owns 36,225 shares of the semiconductor company's stock valued at $1,302,000 after acquiring an additional 20,650 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Ultra Clean by 694.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 977 shares of the semiconductor company's stock valued at $35,000 after purchasing an additional 854 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Ultra Clean by 3.1% during the 4th quarter. Principal Financial Group Inc. now owns 219,821 shares of the semiconductor company's stock valued at $7,903,000 after purchasing an additional 6,546 shares during the last quarter. Barclays PLC increased its position in Ultra Clean by 395.1% during the 3rd quarter. Barclays PLC now owns 83,577 shares of the semiconductor company's stock worth $3,337,000 after purchasing an additional 66,695 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Ultra Clean in the 4th quarter valued at approximately $3,988,000. Institutional investors and hedge funds own 96.06% of the company's stock.

Insider Transactions at Ultra Clean

In other Ultra Clean news, SVP Jamie J. Palfrey sold 9,500 shares of Ultra Clean 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 completion of the transaction, the senior vice president now owns 30,465 shares in the company, valued at approximately $584,928. The trade was a 23.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bill Bentinck bought 3,000 shares of the company's stock in a transaction dated Friday, March 7th. The stock was bought at an average price of $25.17 per share, for a total transaction of $75,510.00. Following the acquisition, the insider now directly owns 60,695 shares of the company's stock, valued at approximately $1,527,693.15. This represents a 5.20% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.20% of the stock is currently owned by insiders.

Ultra Clean Trading Down 4.0%

NASDAQ UCTT traded down $0.80 during mid-day trading on Friday, reaching $19.39. 529,702 shares of the stock were exchanged, compared to its average volume of 465,266. The stock has a market cap of $875.44 million, a P/E ratio of 242.41, a P/E/G 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 Holdings, Inc. has a one year low of $16.66 and a one year high of $56.47. The stock has a 50 day simple moving average of $20.49 and a 200-day simple moving average of $29.68.

Ultra Clean (NASDAQ:UCTT - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The semiconductor company reported $0.28 EPS 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 firm had revenue of $518.60 million during the quarter, compared to analyst estimates of $526.13 million. During the same period last year, the business posted $0.27 EPS. The company's revenue was up 8.6% on a year-over-year basis. On average, analysts anticipate that Ultra Clean Holdings, Inc. will post 1.09 EPS for the current year.

Analyst Upgrades and Downgrades

UCTT has been the topic of a number of research reports. 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 report on Tuesday, April 29th. Wall Street Zen downgraded Ultra Clean from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. TD Cowen dropped their price objective on shares of Ultra Clean from $48.00 to $32.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Finally, Oppenheimer reduced their target price on shares of Ultra Clean from $60.00 to $30.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat, 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.