Harbor Capital Advisors Inc. Raises Stock Position in Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

Harbor Capital Advisors Inc. raised its holdings in Ultra Clean Holdings, Inc. (NASDAQ:UCTT) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 376,041 shares of the semiconductor company’s stock after purchasing an additional 8,829 shares during the quarter. Ultra Clean accounts for approximately 0.6% of Harbor Capital Advisors Inc.’s investment portfolio, making the stock its 29th biggest holding. Harbor Capital Advisors Inc.’s holdings in Ultra Clean were worth $13,519,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Geode Capital Management LLC lifted its holdings in Ultra Clean by 1.0% in the third quarter. Geode Capital Management LLC now owns 1,047,719 shares of the semiconductor company’s stock valued at $41,843,000 after acquiring an additional 10,501 shares during the period. Royce & Associates LP boosted its holdings in Ultra Clean by 7.5% during the third quarter. Royce & Associates LP now owns 908,697 shares of the semiconductor company’s stock worth $36,284,000 after buying an additional 63,301 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Ultra Clean by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 647,288 shares of the semiconductor company’s stock valued at $25,846,000 after buying an additional 18,000 shares during the period. JPMorgan Chase & Co. raised its position in shares of Ultra Clean by 27.9% in the third quarter. JPMorgan Chase & Co. now owns 506,107 shares of the semiconductor company’s stock worth $20,209,000 after acquiring an additional 110,403 shares during the period. Finally, Pinnacle Associates Ltd. grew its position in shares of Ultra Clean by 2.1% during the 3rd quarter. Pinnacle Associates Ltd. now owns 420,709 shares of the semiconductor company’s stock valued at $16,799,000 after acquiring an additional 8,471 shares during the period. Hedge funds and other institutional investors own 96.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Needham & Company LLC lowered their price target on Ultra Clean from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. TD Cowen decreased 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. Finally, Oppenheimer assumed coverage on shares of Ultra Clean in a report on Wednesday, September 25th. They issued an “outperform” rating and a $70.00 price target for the company.

Insider Buying and Selling

In other Ultra Clean news, insider Jeffrey L. Mckibben sold 3,422 shares of Ultra Clean stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $38.20, for a total transaction of $130,720.40. Following the transaction, the insider now directly owns 18,805 shares of the company’s stock, valued at $718,351. The trade was a 15.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Harjinder Bajwa bought 10,000 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was purchased at an average price of $33.75 per share, for a total transaction of $337,500.00. Following the completion of the acquisition, the chief operating officer now directly owns 54,291 shares in the company, valued at $1,832,321.25. The trade was a 22.58 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 27,500 shares of company stock worth $943,275. 2.20% of the stock is owned by insiders.

Ultra Clean Price Performance

Shares of Ultra Clean stock traded down $2.16 during mid-day trading on Friday, reaching $36.62. 102,091 shares of the stock traded hands, compared to its average volume of 251,333. The stock has a market capitalization of $1.65 billion, a PE ratio of 457.81 and a beta of 2.10. The business has a 50-day moving average of $36.99 and a 200 day moving average of $39.28. Ultra Clean Holdings, Inc. has a fifty-two week low of $31.95 and a fifty-two week high of $56.47. The company has a quick ratio of 1.63, a current ratio of 2.75 and a debt-to-equity ratio of 0.52.

Ultra Clean (NASDAQ:UCTT) last posted its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.33 by $0.02. Ultra Clean had a return on equity of 4.08% and a net margin of 0.18%. The firm had revenue of $540.40 million during the quarter, compared to the consensus estimate of $515.88 million. During the same period in the prior year, the company earned ($0.03) EPS. The firm’s revenue was up 24.2% compared to the same quarter last year. On average, analysts predict that Ultra Clean Holdings, Inc. will post 1.09 EPS for the current year.

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.