Allspring Global Investments Holdings LLC Purchases 2,359 Shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

Allspring Global Investments Holdings LLC lifted its position in Ultra Clean Holdings, Inc. (NASDAQ:UCTT – Get Rating) by 5.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 42,863 shares of the semiconductor company’s stock after buying an additional 2,359 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Ultra Clean were worth $1,102,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Divisar Capital Management LLC raised its holdings in shares of Ultra Clean by 45.7% during the 2nd quarter. Divisar Capital Management LLC now owns 1,108,291 shares of the semiconductor company’s stock valued at $32,994,000 after buying an additional 347,737 shares in the last quarter. Peregrine Capital Management LLC bought a new position in Ultra Clean during the 2nd quarter worth approximately $10,181,000. Royce & Associates LP grew its position in Ultra Clean by 28.7% during the 2nd quarter. Royce & Associates LP now owns 831,413 shares of the semiconductor company’s stock worth $24,751,000 after acquiring an additional 185,189 shares during the last quarter. Congress Asset Management Co. MA grew its position in Ultra Clean by 30.5% during the 2nd quarter. Congress Asset Management Co. MA now owns 413,031 shares of the semiconductor company’s stock worth $12,296,000 after acquiring an additional 96,420 shares during the last quarter. Finally, CapWealth Advisors LLC grew its position in Ultra Clean by 60.3% during the 2nd quarter. CapWealth Advisors LLC now owns 245,390 shares of the semiconductor company’s stock worth $7,305,000 after acquiring an additional 92,320 shares during the last quarter. Institutional investors own 79.20% of the company’s stock.

Ultra Clean Stock Performance

NASDAQ UCTT opened at $32.73 on Friday. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 25.98 and a beta of 1.98. The company has a quick ratio of 1.79, a current ratio of 2.79 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average price of $34.02 and a 200-day moving average price of $31.50. Ultra Clean Holdings, Inc. has a twelve month low of $23.32 and a twelve month high of $53.47.

Ultra Clean (NASDAQ:UCTT – Get Rating) last posted its earnings results on Wednesday, October 26th. The semiconductor company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. The company had revenue of $635.01 million for the quarter, compared to the consensus estimate of $615.00 million. Ultra Clean had a return on equity of 19.87% and a net margin of 2.40%. As a group, equities research analysts predict that Ultra Clean Holdings, Inc. will post 3.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

UCTT has been the topic of a number of recent analyst reports. Craig Hallum lowered Ultra Clean from a “buy” rating to a “hold” rating and set a $32.00 price objective on the stock. in a research report on Tuesday, January 10th. Needham & Company LLC lifted their price target on Ultra Clean from $34.00 to $39.00 and gave the company a “buy” rating in a research report on Tuesday, January 17th. Cowen dropped their price target on Ultra Clean from $42.00 to $36.00 in a research report on Thursday, October 27th. Cowen lowered their price objective on Ultra Clean from $42.00 to $36.00 in a research note on Thursday, October 27th. Finally, DA Davidson reiterated a “buy” rating on shares of Ultra Clean in a research note on Tuesday, January 3rd. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.20.

Insider Buying and Selling at Ultra Clean

In other Ultra Clean news, COO Vijayan S. Chinnasami sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $35.08, for a total value of $175,400.00. Following the completion of the sale, the chief operating officer now directly owns 162,570 shares in the company, valued at $5,702,955.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, COO Vijayan S. Chinnasami sold 5,000 shares of the firm’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $35.08, for a total transaction of $175,400.00. Following the completion of the transaction, the chief operating officer now owns 162,570 shares of the company’s stock, valued at $5,702,955.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Jamie J. Palfrey sold 1,151 shares of the firm’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $34.74, for a total transaction of $39,985.74. Following the sale, the senior vice president now owns 21,430 shares in the company, valued at approximately $744,478.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,914 shares of company stock valued at $774,979. Company insiders own 2.10% of the company’s stock.

About Ultra Clean

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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.