New York State Teachers Retirement System increased its stake in Ultra Clean Holdings Inc (NASDAQ:UCTT) by 14.4% during the second quarter, HoldingsChannel.com reports. The fund owned 25,469 shares of the semiconductor company’s stock after buying an additional 3,200 shares during the period. New York State Teachers Retirement System’s holdings in Ultra Clean were worth $576,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Aigen Investment Management LP acquired a new position in shares of Ultra Clean in the 1st quarter worth $27,000. Truvestments Capital LLC acquired a new position in shares of Ultra Clean in the 1st quarter worth $28,000. PNC Financial Services Group Inc. grew its holdings in shares of Ultra Clean by 28.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,995 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 664 shares during the last quarter. First Mercantile Trust Co. acquired a new position in shares of Ultra Clean in the 1st quarter worth $47,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Ultra Clean by 54.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,691 shares of the semiconductor company’s stock worth $51,000 after acquiring an additional 1,301 shares during the last quarter. Institutional investors and hedge funds own 87.32% of the company’s stock.
In related news, Director Thomas T. Edman sold 5,000 shares of Ultra Clean stock in a transaction on Friday, May 29th. The stock was sold at an average price of $20.52, for a total transaction of $102,600.00. Following the completion of the sale, the director now owns 19,899 shares of the company’s stock, valued at $408,327.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.20% of the stock is currently owned by company insiders.
A number of research analysts have recently weighed in on UCTT shares. Craig Hallum lifted their price target on Ultra Clean from $35.00 to $40.00 and gave the company a “buy” rating in a report on Thursday. BidaskClub upgraded Ultra Clean from a “buy” rating to a “strong-buy” rating in a report on Friday, June 19th. Zacks Investment Research upgraded Ultra Clean from a “hold” rating to a “strong-buy” rating and set a $29.00 price target on the stock in a report on Friday. Stifel Nicolaus lifted their price target on Ultra Clean from $23.00 to $26.00 and gave the company a “hold” rating in a report on Thursday. Finally, Needham & Company LLC lifted their price target on Ultra Clean from $26.00 to $35.00 and gave the company a “buy” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $31.00.
UCTT opened at $30.09 on Friday. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 60.18, a PEG ratio of 2.43 and a beta of 1.69. Ultra Clean Holdings Inc has a 1 year low of $11.20 and a 1 year high of $31.10. The company has a current ratio of 2.49, a quick ratio of 1.60 and a debt-to-equity ratio of 0.73. The stock has a fifty day moving average price of $23.02 and a 200 day moving average price of $20.59.
Ultra Clean (NASDAQ:UCTT) last released its quarterly earnings data on Wednesday, July 29th. The semiconductor company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.34. The firm had revenue of $344.70 million during the quarter, compared to analysts’ expectations of $265.90 million. Ultra Clean had a return on equity of 14.79% and a net margin of 1.74%. The business’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.21 earnings per share. As a group, sell-side analysts forecast that Ultra Clean Holdings Inc will post 1.59 earnings per share for the current fiscal year.
Ultra Clean Profile
Ultra Clean Holdings, Inc designs, develops, prototypes, engineers, manufactures, and tests production tools, modules, and subsystems for the semiconductor and display capital equipment industries primarily in North America, Asia, and Europe. It offers precision robotic systems that are used when accurate controlled motion is required; gas delivery systems, which include one or more gas lines consisting of small diameter internally polished stainless steel tubing products, filters, mass flow controllers, regulators, pressure transducers and valves, component heaters, and an integrated electronic and/or pneumatic control system; and various industrial and automation production equipment products.
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