Summit Global Investments Boosts Holdings in Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

Summit Global Investments increased its holdings in Ultra Clean Holdings, Inc. (NASDAQ:UCTT) by 44.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,353 shares of the semiconductor company’s stock after buying an additional 11,429 shares during the quarter. Summit Global Investments owned 0.08% of Ultra Clean worth $1,275,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new stake in Ultra Clean during the 4th quarter worth approximately $59,000. Everence Capital Management Inc. raised its stake in Ultra Clean by 7.1% during the 4th quarter. Everence Capital Management Inc. now owns 7,980 shares of the semiconductor company’s stock worth $272,000 after acquiring an additional 530 shares during the period. Strs Ohio raised its position in shares of Ultra Clean by 10.5% during the third quarter. Strs Ohio now owns 9,500 shares of the semiconductor company’s stock valued at $281,000 after buying an additional 900 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in shares of Ultra Clean during the third quarter valued at approximately $299,000. Finally, Quantbot Technologies LP bought a new stake in shares of Ultra Clean during the third quarter valued at approximately $300,000. Institutional investors own 96.06% of the company’s stock.

Ultra Clean Price Performance

Shares of UCTT stock traded up $1.08 on Friday, reaching $42.11. The company’s stock had a trading volume of 188,034 shares, compared to its average volume of 210,849. The stock’s fifty day simple moving average is $43.77 and its 200-day simple moving average is $36.14. Ultra Clean Holdings, Inc. has a 1 year low of $22.15 and a 1 year high of $49.25. The company has a current ratio of 2.88, a quick ratio of 1.67 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of -61.03 and a beta of 2.02.

Ultra Clean (NASDAQ:UCTT) last posted its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $0.12 EPS for the quarter. The company had revenue of $444.80 million during the quarter, compared to analyst estimates of $444.99 million. Ultra Clean had a negative net margin of 1.79% and a positive return on equity of 1.69%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on UCTT shares. Needham & Company LLC lifted their price objective on shares of Ultra Clean from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. TD Cowen lifted their price objective on shares of Ultra Clean from $32.00 to $47.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $52.33.

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.