Assenagon Asset Management S.A. Increases Position in Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

Assenagon Asset Management S.A. lifted its position in shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT - Free Report) by 25.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 121,526 shares of the semiconductor company's stock after acquiring an additional 24,670 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.27% of Ultra Clean worth $4,149,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in Ultra Clean by 4.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 545,815 shares of the semiconductor company's stock valued at $16,194,000 after acquiring an additional 24,673 shares during the period. Qube Research & Technologies Ltd bought a new stake in Ultra Clean during the third quarter worth about $1,871,000. Swiss National Bank raised its holdings in Ultra Clean by 0.7% during the third quarter. Swiss National Bank now owns 98,200 shares of the semiconductor company's stock worth $2,914,000 after acquiring an additional 700 shares in the last quarter. Illinois Municipal Retirement Fund bought a new stake in Ultra Clean during the third quarter worth about $825,000. Finally, Congress Asset Management Co. MA raised its stake in Ultra Clean by 37.3% in the third quarter. Congress Asset Management Co. MA now owns 823,957 shares of the semiconductor company's stock valued at $24,447,000 after buying an additional 223,865 shares during the period. Institutional investors own 96.06% of the company's stock.

Ultra Clean Price Performance

Ultra Clean stock traded up $0.03 during mid-day trading on Tuesday, reaching $45.66. 295,884 shares of the company were exchanged, compared to its average volume of 351,047. The company has a fifty day simple moving average of $42.94 and a 200-day simple moving average of $33.88. Ultra Clean Holdings, Inc. has a 12 month low of $22.15 and a 12 month high of $49.25. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.88 and a quick ratio of 1.67. The firm has a market cap of $2.04 billion, a PE ratio of -66.13 and a beta of 2.03.

Ultra Clean (NASDAQ:UCTT - Get Free Report) last posted its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $0.12 EPS for the quarter. Ultra Clean had a positive return on equity of 1.69% and a negative net margin of 1.79%. The firm had revenue of $444.80 million for the quarter, compared to analyst estimates of $444.99 million.

Wall Street Analysts Forecast Growth

UCTT has been the topic of several research reports. Needham & Company LLC upped their target price on Ultra Clean from $46.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, February 22nd. TheStreet raised Ultra Clean from a "d+" rating to a "c-" rating in a research report on Friday, December 29th. Finally, TD Cowen upped their target price on Ultra Clean from $32.00 to $47.00 and gave the company an "outperform" rating in a research report on Thursday, February 22nd. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $52.33.

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.