Bank of New York Mellon Corp Cuts Stock Holdings in Ultra Clean Holdings, Inc. $UCTT

Bank of New York Mellon Corp decreased its holdings in Ultra Clean Holdings, Inc. (NASDAQ:UCTT) by 30.1% in the first quarter, Holdings Channel reports. The firm owned 443,653 shares of the semiconductor company’s stock after selling 191,319 shares during the quarter. Bank of New York Mellon Corp’s holdings in Ultra Clean were worth $27,586,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in UCTT. Invesco Ltd. lifted its stake in shares of Ultra Clean by 63.1% in the 4th quarter. Invesco Ltd. now owns 3,399,834 shares of the semiconductor company’s stock worth $86,118,000 after purchasing an additional 1,315,407 shares during the period. Millennium Management LLC raised its position in shares of Ultra Clean by 944.8% during the 4th quarter. Millennium Management LLC now owns 559,955 shares of the semiconductor company’s stock valued at $14,184,000 after buying an additional 506,363 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Ultra Clean by 348.7% during the 1st quarter. SG Americas Securities LLC now owns 565,569 shares of the semiconductor company’s stock valued at $35,167,000 after purchasing an additional 439,526 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Ultra Clean by 6.2% in the fourth 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. Finally, BNP Paribas Financial Markets raised its position in Ultra Clean by 360.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 271,843 shares of the semiconductor company’s stock worth $6,135,000 after purchasing an additional 212,791 shares during the period. Institutional investors own 96.06% of the company’s stock.

Ultra Clean Trading Down 6.2%

Shares of NASDAQ:UCTT opened at $86.97 on Tuesday. The business’s 50 day moving average price is $100.69 and its 200-day moving average price is $74.89. Ultra Clean Holdings, Inc. has a 1 year low of $21.28 and a 1 year high of $144.22. The firm has a market capitalization of $3.90 billion, a price-to-earnings ratio of -20.27, a price-to-earnings-growth 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 (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 business had revenue of $533.70 million during the quarter, compared to analysts’ expectations of $525.28 million. During the same quarter in the previous year, the company earned $0.28 earnings per share. The company’s quarterly revenue was up 2.9% on a year-over-year basis. On average, equities research analysts forecast that Ultra Clean Holdings, Inc. will post 2.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Ultra Clean news, SVP Jamie J. Palfrey sold 8,691 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $79.72, for a total value of $692,846.52. Following the transaction, the senior vice president directly owned 16,446 shares of the company’s stock, valued at $1,311,075.12. This trade represents a 34.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jeffrey L. Mckibben sold 4,205 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $87.00, for a total value of $365,835.00. Following the transaction, the insider directly owned 11,349 shares in the company, valued at $987,363. This trade represents a 27.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 80,106 shares of company stock worth $6,734,589 in the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

UCTT has been the subject of a number of recent analyst reports. Weiss Ratings lowered shares of Ultra Clean from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday. Oppenheimer boosted their price target on Ultra Clean from $100.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 9th. Needham & Company LLC increased their target price on shares of Ultra Clean from $70.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. UBS Group started coverage on shares of Ultra Clean in a report on Tuesday, May 5th. They issued a “buy” rating and a $130.00 price target for the company. Finally, TD Cowen lifted their target price on Ultra Clean from $100.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Ultra Clean presently has an average rating of “Buy” and an average target price of $113.40.

About Ultra Clean

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.