Assenagon Asset Management S.A. Has $2.78 Million Stock Holdings in Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

Assenagon Asset Management S.A. decreased its holdings in shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT - Free Report) by 50.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,468 shares of the semiconductor company's stock after selling 61,058 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.14% of Ultra Clean worth $2,778,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its position in Ultra Clean by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 545,815 shares of the semiconductor company's stock worth $16,194,000 after buying an additional 24,673 shares during the period. Vanguard Group Inc. increased its position in Ultra Clean by 4.7% during the 3rd quarter. Vanguard Group Inc. now owns 4,211,736 shares of the semiconductor company's stock worth $124,962,000 after buying an additional 190,942 shares during the period. Qube Research & Technologies Ltd bought a new position in Ultra Clean during the 3rd quarter worth $1,871,000. Mirae Asset Global Investments Co. Ltd. increased its position in Ultra Clean by 4.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,343 shares of the semiconductor company's stock worth $695,000 after buying an additional 930 shares during the period. Finally, Swiss National Bank increased its position in Ultra Clean by 0.7% during the 3rd quarter. Swiss National Bank now owns 98,200 shares of the semiconductor company's stock worth $2,914,000 after buying an additional 700 shares during the period. Institutional investors and hedge funds own 96.06% of the company's stock.

Insider Activity at Ultra Clean

In related news, CAO Brian E. Harding sold 11,000 shares of the firm's stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $43.89, for a total value of $482,790.00. Following the sale, the chief accounting officer now directly owns 37,415 shares of the company's stock, valued at $1,642,144.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Brian E. Harding sold 11,000 shares of Ultra Clean stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $43.89, for a total transaction of $482,790.00. Following the sale, the chief accounting officer now directly owns 37,415 shares of the company's stock, valued at $1,642,144.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Clarence L. Granger sold 5,000 shares of Ultra Clean stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $43.50, for a total value of $217,500.00. Following the sale, the director now directly owns 92,134 shares in the company, valued at $4,007,829. The disclosure for this sale can be found here. Insiders have sold 36,276 shares of company stock valued at $1,591,301 over the last ninety days. 2.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on UCTT. TD Cowen increased their price objective on Ultra Clean from $47.00 to $55.00 and gave the stock a "buy" rating in a research report on Tuesday, May 7th. Needham & Company LLC raised their price target on Ultra Clean from $50.00 to $56.00 and gave the stock a "buy" rating in a research report on Tuesday, May 7th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.00.

Ultra Clean Price Performance

Shares of NASDAQ UCTT traded up $1.40 during mid-day trading on Monday, reaching $46.50. The company had a trading volume of 296,244 shares, compared to its average volume of 304,484. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.58 and a current ratio of 2.76. Ultra Clean Holdings, Inc. has a one year low of $22.15 and a one year high of $49.25. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of -56.71 and a beta of 2.02. The business's 50-day simple moving average is $43.63 and its 200 day simple moving average is $37.85.

Ultra Clean (NASDAQ:UCTT - Get Free Report) last released its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $0.12 earnings per share for the quarter. The business had revenue of $444.80 million for the quarter, compared to analyst estimates of $444.99 million. Ultra Clean had a positive return on equity of 2.19% and a negative net margin of 2.09%.

Ultra Clean Profile

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.

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