Panagora Asset Management Inc. Sells 38,249 Shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

Panagora Asset Management Inc. trimmed its position in Ultra Clean Holdings, Inc. (NASDAQ:UCTT) by 57.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,166 shares of the semiconductor company’s stock after selling 38,249 shares during the quarter. Panagora Asset Management Inc. owned about 0.06% of Ultra Clean worth $962,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Ultra Clean by 4.7% in 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 last quarter. Vanguard Group Inc. increased its stake in Ultra Clean by 4.7% during the third quarter. Vanguard Group Inc. now owns 4,211,736 shares of the semiconductor company’s stock worth $124,962,000 after acquiring an additional 190,942 shares during the last quarter. Qube Research & Technologies Ltd purchased a new stake in Ultra Clean during the third quarter valued at approximately $1,871,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Ultra Clean by 4.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,343 shares of the semiconductor company’s stock valued at $695,000 after purchasing an additional 930 shares during the last quarter. Finally, Swiss National Bank lifted its stake in shares of Ultra Clean by 0.7% in the 3rd quarter. Swiss National Bank now owns 98,200 shares of the semiconductor company’s stock valued at $2,914,000 after purchasing an additional 700 shares during the last quarter. 96.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Ultra Clean news, General Counsel Paul Yoonku Cho sold 3,449 shares of the business’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $44.79, for a total value of $154,480.71. Following the completion of the sale, the general counsel now directly owns 17,166 shares of the company’s stock, valued at approximately $768,865.14. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, General Counsel Paul Yoonku Cho sold 3,449 shares of Ultra Clean stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $44.79, for a total transaction of $154,480.71. Following the completion of the sale, the general counsel now owns 17,166 shares of the company’s stock, valued at $768,865.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Clarence L. Granger sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $43.50, for a total value of $217,500.00. Following the completion of the transaction, the director now directly owns 92,134 shares in the company, valued at approximately $4,007,829. The disclosure for this sale can be found here. Insiders have sold 39,725 shares of company stock valued at $1,745,782 in the last 90 days. Company insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

UCTT has been the topic of several recent research reports. TD Cowen increased their price target on Ultra Clean from $47.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Needham & Company LLC increased their target price on shares of Ultra Clean from $50.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.00.

Ultra Clean Price Performance

Shares of UCTT stock opened at $44.20 on Friday. The stock has a 50 day moving average price of $43.69 and a 200 day moving average price of $38.09. Ultra Clean Holdings, Inc. has a 52-week low of $22.15 and a 52-week high of $49.25. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.76 and a quick ratio of 1.58.

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

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.