Redwood Grove Capital LLC Purchases Shares of 162,358 Ultra Clean Holdings, Inc. $UCTT

Redwood Grove Capital LLC purchased a new position in shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 162,358 shares of the semiconductor company’s stock, valued at approximately $10,095,000. Ultra Clean makes up about 3.3% of Redwood Grove Capital LLC’s portfolio, making the stock its 17th biggest holding. Redwood Grove Capital LLC owned 0.36% of Ultra Clean at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in UCTT. Invesco Ltd. boosted 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 valued at $86,118,000 after purchasing an additional 1,315,407 shares in the last quarter. Cooper Creek Partners Management LLC purchased a new position in Ultra Clean in the 1st quarter worth $36,486,000. Millennium Management LLC lifted its stake in Ultra Clean by 944.8% in the fourth quarter. Millennium Management LLC now owns 559,955 shares of the semiconductor company’s stock worth $14,184,000 after purchasing an additional 506,363 shares during the last quarter. SG Americas Securities LLC lifted its stake in Ultra Clean by 348.7% in the first quarter. SG Americas Securities LLC now owns 565,569 shares of the semiconductor company’s stock worth $35,167,000 after purchasing an additional 439,526 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Ultra Clean by 6.2% during the fourth quarter. Vanguard Group Inc. now owns 4,990,724 shares of the semiconductor company’s stock valued at $126,415,000 after buying an additional 293,048 shares during the period. 96.06% of the stock is currently owned by institutional investors.

Ultra Clean Price Performance

UCTT stock opened at $77.50 on Wednesday. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of -18.07, a PEG ratio of 1.16 and a beta of 1.83. The firm’s 50-day moving average price is $100.70 and its two-hundred day moving average price is $75.20. The company has a current ratio of 3.07, a quick ratio of 1.72 and a debt-to-equity ratio of 0.86. Ultra Clean Holdings, Inc. has a 12-month low of $21.28 and a 12-month high of $144.22.

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

Insider Activity at Ultra Clean

In other news, insider Christopher S. Cook sold 11,903 shares of Ultra Clean stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $75.31, for a total value of $896,414.93. Following the sale, the insider directly owned 108,905 shares in the company, valued at approximately $8,201,635.55. This trade represents a 9.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sheri Savage sold 15,766 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 50,710 shares in the company, valued at $4,537,023.70. This trade represents a 23.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 80,106 shares of company stock worth $6,734,589 over the last 90 days. 1.80% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently commented on UCTT shares. Weiss Ratings downgraded Ultra Clean from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday. UBS Group assumed coverage on Ultra Clean in a research report on Tuesday, May 5th. They set a “buy” rating and a $130.00 price target on the stock. TD Cowen lifted their price target on Ultra Clean from $100.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Oppenheimer boosted their price objective on Ultra Clean from $100.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, June 9th. Finally, Wall Street Zen raised Ultra Clean from a “hold” rating to a “buy” rating in a research note on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Ultra Clean has an average rating of “Buy” and a consensus price target of $113.40.

Ultra Clean 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.