Ultra Clean Holdings, Inc. $UCTT Shares Sold by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors cut its Ultra Clean Holdings stake by 33.6% in the first quarter, selling 513,079 shares and retaining 1,011,778 shares worth approximately $62.9 million. Institutional investors collectively own 96.06% of UCTT.
• Analysts remain broadly positive, with the stock carrying a consensus “Buy” rating and an average price target of $113.40. Recent targets range from $92 to $130, although Wall Street Zen downgraded the shares to “Hold.”
• UCTT shares opened at $83.31, well below their 52-week high of $144.22. Company insiders sold 68,203 shares worth approximately $5.84 million over the past 90 days.

Dimensional Fund Advisors LP reduced its stake in shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT - Free Report) by 33.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,011,778 shares of the semiconductor company's stock after selling 513,079 shares during the period. Dimensional Fund Advisors LP owned 2.26% of Ultra Clean worth $62,892,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in UCTT. KBC Group NV acquired a new stake in shares of Ultra Clean during the 1st quarter worth approximately $75,000. Swiss National Bank grew its position in Ultra Clean by 0.4% in the 1st quarter. Swiss National Bank now owns 89,800 shares of the semiconductor company's stock valued at $5,584,000 after acquiring an additional 400 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Ultra Clean by 931.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 158,256 shares of the semiconductor company's stock worth $10,049,000 after purchasing an additional 142,906 shares during the period. D.A. Davidson & CO. acquired a new stake in shares of Ultra Clean during the first quarter worth about $208,000. Finally, Illinois Municipal Retirement Fund lifted its position in shares of Ultra Clean by 10.5% during the first quarter. Illinois Municipal Retirement Fund now owns 24,508 shares of the semiconductor company's stock worth $1,524,000 after purchasing an additional 2,333 shares in the last quarter. 96.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on UCTT. UBS Group began coverage on shares of Ultra Clean in a report on Tuesday, May 5th. They issued a "buy" rating and a $130.00 price objective for the company. TD Cowen raised their price target on shares of Ultra Clean from $100.00 to $130.00 and gave the company a "buy" rating in a research report on Thursday, July 9th. Oppenheimer boosted their price target on shares of Ultra Clean from $100.00 to $115.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 9th. Needham & Company LLC upped their price objective on Ultra Clean from $70.00 to $92.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Finally, Wall Street Zen cut Ultra Clean from a "buy" rating to a "hold" rating in a research note on Saturday. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $113.40.

Ultra Clean Stock Up 0.1%

Shares of Ultra Clean stock opened at $83.31 on Friday. Ultra Clean Holdings, Inc. has a 52-week low of $21.28 and a 52-week high of $144.22. The company has a 50 day moving average of $100.52 and a 200 day moving average of $75.85. 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 company has a market capitalization of $3.73 billion, a P/E ratio of -19.42, a P/E/G ratio of 1.11 and a beta of 1.83.

Insider Buying and Selling

In other news, SVP Jamie J. Palfrey sold 8,691 shares of the firm's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $79.72, for a total value of $692,846.52. Following the sale, the senior vice president directly owned 16,446 shares in the company, valued at approximately $1,311,075.12. This trade represents a 34.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sheri Savage sold 15,766 shares of Ultra Clean stock in a transaction on Thursday, June 4th. The stock was 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 trade represents a 23.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 68,203 shares of company stock worth $5,838,174. Corporate insiders own 1.80% of the company's stock.

Ultra Clean Company Profile

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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