Palouse Capital Management Inc. Increases Stock Position in Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

Palouse Capital Management Inc. boosted its position in Ultra Clean Holdings, Inc. (NASDAQ:UCTT) by 70.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,692 shares of the semiconductor company’s stock after acquiring an additional 2,359 shares during the quarter. Palouse Capital Management Inc.’s holdings in Ultra Clean were worth $227,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in UCTT. GAMMA Investing LLC lifted its stake in shares of Ultra Clean by 52.1% in the 2nd quarter. GAMMA Investing LLC now owns 622 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 213 shares in the last quarter. CWM LLC grew its stake in Ultra Clean by 46.3% during the second quarter. CWM LLC now owns 800 shares of the semiconductor company’s stock worth $39,000 after buying an additional 253 shares during the period. Innealta Capital LLC acquired a new stake in shares of Ultra Clean in the second quarter worth $41,000. nVerses Capital LLC purchased a new position in shares of Ultra Clean in the 2nd quarter valued at $64,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Ultra Clean during the 1st quarter worth $96,000. Hedge funds and other institutional investors own 96.06% of the company’s stock.

Ultra Clean Stock Down 2.7 %

Shares of NASDAQ:UCTT traded down $1.01 during midday trading on Monday, reaching $36.01. The company had a trading volume of 147,562 shares, compared to its average volume of 357,562. Ultra Clean Holdings, Inc. has a one year low of $22.15 and a one year high of $56.47. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.73 and a quick ratio of 1.60. The stock has a market capitalization of $1.62 billion, a P/E ratio of -194.84 and a beta of 2.08. The stock’s fifty day moving average price is $36.99 and its 200-day moving average price is $42.53.

Ultra Clean (NASDAQ:UCTT) last posted its quarterly earnings results on Thursday, July 25th. The semiconductor company reported $0.21 EPS for the quarter. The business had revenue of $516.10 million during the quarter, compared to the consensus estimate of $490.06 million. Ultra Clean had a positive return on equity of 2.59% and a negative net margin of 0.46%. The company’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same period last year, the firm earned $0.16 earnings per share. Equities research analysts expect that Ultra Clean Holdings, Inc. will post 1.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Oppenheimer initiated coverage on Ultra Clean in a research note on Wednesday, September 25th. They set an “outperform” rating and a $70.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and set a $56.00 price target on shares of Ultra Clean in a research report on Friday, July 26th. Craig Hallum increased their price objective on shares of Ultra Clean from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, TD Cowen boosted their target price on shares of Ultra Clean from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $61.50.

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.