Point72 Asia Singapore Pte. Ltd. Buys Shares of 814 Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 814 shares of the semiconductor company’s stock, valued at approximately $32,000.

Several other hedge funds have also recently modified their holdings of UCTT. GAMMA Investing LLC increased its stake in Ultra Clean by 52.1% in the 2nd quarter. GAMMA Investing LLC now owns 622 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 213 shares during the period. Signaturefd LLC boosted its holdings in shares of Ultra Clean by 465.5% in the third quarter. Signaturefd LLC now owns 803 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 661 shares in the last quarter. CWM LLC increased its stake in shares of Ultra Clean by 46.3% during the second quarter. CWM LLC now owns 800 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 253 shares during the period. Innealta Capital LLC purchased a new position in Ultra Clean during the second quarter worth about $41,000. Finally, nVerses Capital LLC acquired a new stake in Ultra Clean in the second quarter valued at about $64,000. 96.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on UCTT shares. TD Cowen dropped their target price on Ultra Clean from $60.00 to $57.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Needham & Company LLC dropped their price objective on Ultra Clean from $50.00 to $44.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Finally, Oppenheimer started coverage on Ultra Clean in a report on Wednesday, September 25th. They issued an “outperform” rating and a $70.00 target price for the company. Four research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $57.75.

Ultra Clean Stock Performance

UCTT opened at $38.08 on Friday. Ultra Clean Holdings, Inc. has a 1-year low of $27.58 and a 1-year high of $56.47. The stock has a market cap of $1.72 billion, a P/E ratio of 476.06 and a beta of 2.09. The stock’s 50 day simple moving average is $37.15 and its 200 day simple moving average is $40.89. 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 (NASDAQ:UCTT) last announced its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. Ultra Clean had a return on equity of 4.08% and a net margin of 0.18%. The business had revenue of $540.40 million during the quarter, compared to analysts’ expectations of $515.88 million. During the same quarter last year, the business posted ($0.03) earnings per share. The business’s revenue for the quarter was up 24.2% on a year-over-year basis. As a group, equities analysts anticipate that Ultra Clean Holdings, Inc. will post 1.09 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Harjinder Bajwa acquired 2,500 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was purchased at an average cost of $33.33 per share, for a total transaction of $83,325.00. Following the transaction, the chief operating officer now directly owns 29,291 shares of the company’s stock, valued at approximately $976,269.03. This trade represents a 9.33 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jeffrey L. Mckibben sold 3,422 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $38.20, for a total value of $130,720.40. Following the sale, the insider now owns 18,805 shares in the company, valued at approximately $718,351. This trade represents a 15.40 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 27,500 shares of company stock worth $943,275. Insiders own 2.20% of the company’s stock.

Ultra Clean Company 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.