Ultra Clean Holdings, Inc. $UCTT Stock Bought by Bridge City Capital LLC

Key Points

• Bridge City Capital increased its Ultra Clean Holdings stake by 92.3% in the third quarter, owning 98,202 shares worth approximately $7.96 million. Institutional investors collectively own 96.06% of UCTT.
• Ultra Clean reported quarterly earnings of $1.15 per share, exceeding estimates of $0.94, while revenue rose 48.8% year over year to $759 million.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $114, although UCTT was trading at $49.71 and had recently declined below its 50- and 200-day moving averages.

Bridge City Capital LLC raised its holdings in shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT - Free Report) by 92.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,202 shares of the semiconductor company's stock after acquiring an additional 47,137 shares during the period. Ultra Clean makes up 1.7% of Bridge City Capital LLC's holdings, making the stock its 21st largest position. Bridge City Capital LLC owned approximately 0.22% of Ultra Clean worth $7,960,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in UCTT. Kilter Group LLC acquired a new stake in shares of Ultra Clean in the 2nd quarter worth approximately $30,000. Harbor Investment Advisory LLC acquired a new position in shares of Ultra Clean during the 2nd quarter valued at $62,000. Reyes Financial Architecture Inc. bought a new stake in shares of Ultra Clean in the 3rd quarter worth $37,000. Global Retirement Partners LLC acquired a new stake in shares of Ultra Clean in the second quarter valued at $82,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Ultra Clean by 37.3% in the first quarter. EverSource Wealth Advisors LLC now owns 721 shares of the semiconductor company's stock valued at $45,000 after buying an additional 196 shares during the period. Institutional investors and hedge funds own 96.06% of the company's stock.

Ultra Clean Stock Performance

NASDAQ UCTT opened at $49.71 on Monday. Ultra Clean Holdings, Inc. has a 1 year low of $21.49 and a 1 year high of $144.22. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 87.21, a P/E/G ratio of 0.47 and a beta of 1.91. The company has a current ratio of 2.79, a quick ratio of 1.28 and a debt-to-equity ratio of 0.78. The firm's 50 day simple moving average is $66.61 and its 200 day simple moving average is $74.23.

Ultra Clean (NASDAQ:UCTT - Get Free Report) last issued its quarterly earnings results on Tuesday, October 27th. The semiconductor company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.21. The company had revenue of $759.00 million during the quarter, compared to analysts' expectations of $727.55 million. Ultra Clean had a return on equity of 12.00% and a net margin of 1.09%. The business's quarterly revenue was up 48.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.28 earnings per share. As a group, research analysts expect that Ultra Clean Holdings, Inc. will post 2.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on UCTT shares. Oppenheimer upped their price target on Ultra Clean from $115.00 to $150.00 and gave the company an "outperform" rating in a report on Tuesday, August 4th. Freedom Broker began coverage on Ultra Clean in a research note on Friday, October 9th. They issued a "buy" rating and a $127.00 price objective for the company. UBS Group reissued a "buy" rating on shares of Ultra Clean in a research note on Wednesday. Needham & Company LLC reduced their price objective on Ultra Clean from $125.00 to $80.00 and set a "buy" rating for the company in a research report on Wednesday. Finally, Zacks Research lowered shares of Ultra Clean from a "strong-buy" rating to a "hold" rating in a report on Friday, October 2nd. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $114.00.

Ultra Clean Profile

Ultra Clean Holdings, Inc NASDAQ: UCTT provides critical subsystems, components and services used in the production of semiconductor and other high-technology products. The company designs and manufactures gas delivery systems, fluid delivery systems, precision-machined components, process modules and other equipment used by semiconductor capital-equipment manufacturers.

Ultra Clean also provides contract manufacturing, analytical laboratory, equipment installation, repair, refurbishment and tool-maintenance services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.