Maverick Capital Ltd. Buys Shares of 20,309 Ultra Clean Holdings, Inc. $UCTT

Maverick Capital Ltd. bought a new position in Ultra Clean Holdings, Inc. (NASDAQ:UCTT) in the first quarter, HoldingsChannel reports. The institutional investor bought 20,309 shares of the semiconductor company’s stock, valued at approximately $1,263,000.

A number of other institutional investors and hedge funds have also modified their holdings of UCTT. Invesco Ltd. lifted its holdings in shares of Ultra Clean by 63.1% during the fourth quarter. Invesco Ltd. now owns 3,399,834 shares of the semiconductor company’s stock valued at $86,118,000 after purchasing an additional 1,315,407 shares in the last quarter. Cooper Creek Partners Management LLC bought a new stake in Ultra Clean in the 1st quarter worth about $36,486,000. Millennium Management LLC raised its position in Ultra Clean by 944.8% in the 4th quarter. Millennium Management LLC now owns 559,955 shares of the semiconductor company’s stock worth $14,184,000 after buying an additional 506,363 shares during the last quarter. SG Americas Securities LLC raised its position in Ultra Clean by 348.7% in the 1st quarter. SG Americas Securities LLC now owns 565,569 shares of the semiconductor company’s stock worth $35,167,000 after buying an additional 439,526 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Ultra Clean by 6.2% during the 4th quarter. Vanguard Group Inc. now owns 4,990,724 shares of the semiconductor company’s stock valued at $126,415,000 after acquiring an additional 293,048 shares during the period. Institutional investors own 96.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on UCTT. Wall Street Zen raised shares of Ultra Clean from a “hold” rating to a “buy” rating in a report on Tuesday, July 7th. UBS Group assumed coverage on shares of Ultra Clean in a report on Tuesday, May 5th. They set a “buy” rating and a $130.00 price objective for the company. Zacks Research upgraded shares of Ultra Clean from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 25th. TD Cowen raised their target price on shares of Ultra Clean from $100.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Finally, Weiss Ratings downgraded shares of Ultra Clean from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $113.40.

Ultra Clean Trading Down 6.2%

Shares of Ultra Clean stock opened at $86.97 on Tuesday. The company’s fifty day simple moving average is $100.69 and its 200-day simple moving average is $74.89. The stock has a market capitalization of $3.90 billion, a PE ratio of -20.27, a P/E/G ratio of 1.24 and a beta of 1.83. The company has a debt-to-equity ratio of 0.86, a current ratio of 3.07 and a quick ratio of 1.72. Ultra Clean Holdings, Inc. has a 1-year low of $21.28 and a 1-year high of $144.22.

Ultra Clean (NASDAQ:UCTT) last released its earnings results on Tuesday, April 28th. The semiconductor company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.04. Ultra Clean had a negative net margin of 9.38% and a positive return on equity of 4.28%. The company had revenue of $533.70 million for the quarter, compared to analysts’ expectations of $525.28 million. During the same quarter last year, the business earned $0.28 EPS. The firm’s revenue was up 2.9% compared to the same quarter last year. As a group, equities analysts anticipate that Ultra Clean Holdings, Inc. will post 2.14 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Sheri Savage sold 15,766 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $89.47, for a total value of $1,410,584.02. Following the completion of the transaction, the chief financial officer owned 50,710 shares of the company’s stock, valued at approximately $4,537,023.70. This represents a 23.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey L. Mckibben sold 4,205 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $87.00, for a total value of $365,835.00. Following the sale, the insider directly owned 11,349 shares in the company, valued at approximately $987,363. This represents a 27.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 80,106 shares of company stock valued at $6,734,589. Insiders own 1.80% of the company’s stock.

Ultra Clean Company Profile

Ultra Clean Holdings, Inc is a global supplier of critical consumables and process tools for the semiconductor manufacturing industry. The company specializes in precision parts cleaning, chemical–mechanical planarization (CMP) slurries, surface conditioning pads, and specialty components used in wafer fabrication and advanced packaging. Ultra Clean also provides assembly and test hardware, tooling, and automated modules designed to support complex front-end and back-end processes in semiconductor fabs.

Ultra Clean’s product portfolio encompasses a range of cleaning systems and consumables aimed at particle and film removal, as well as CMP slurries and pads that are engineered for uniform material removal and planarization.