Comerica Bank, a leading financial institution in the United States, has recently reduced its stake in shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT) by 21.8% during the fourth quarter of last year as per the filing submitted to the Securities and Exchange Commission (SEC). The fund owned 27,221 shares of UCTT’s stock after selling 7,577 shares within that quarter. Presently, Comerica Bank owns about 0.06% of UCTT, which translates to $888,000 worth of Ultra Clean shares.
Ultra Clean specializes in producing critical subsystems for the semiconductor industry alongside providing ultra-high purity cleaning and analytical services. The company operates through two segments: Products and Services. The Products segment mainly focuses on designing and producing tools, parts, modules and subsystems for display capital equipment and semiconductor industries.
In their previous quarterly earnings report issued on February 22nd this year, Ultra Clean Holdings reported an impressive fiscal performance with a net margin of 1.70% resulting in $0.85 EPS – beating most analysts’ expectations substantially! The third-quarter earnings showcased over $566 million in revenue compared to market anticipated $565 million.
Over the years, Ultra Clean has created unique processes and technologies that enable them to maintain operations at a fast pace within rapidly transforming business environments while providing quality products to customers worldwide. To achieve this high level of success requires an unwavering commitment towards meeting client demand through continued product innovation as well as efficient service delivery.
Ultimately it seems that Comerica may have divested some of its shares in anticipation of potential losses down-the-line due to increased competition or simply because their portfolio needed rebalancing for unknown reasons. Nonetheless,this is a sign that investors need to keep an eye out on UCTT since they are taking innovative steps towards achieving unparalleled heights within their industry yearly!
Ultra Clean Holdings sees Changes in Institutional Investor Positions
Ultra Clean Holdings, Inc. recently had various institutional investors and hedge funds make numerous changes to their positions in the company. Divisar Capital Management LLC raised its holdings in shares of Ultra Clean by 58.2% in the first quarter, now owning over 760,000 shares valued at $32,240,000 after acquiring an additional 279,737 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Ultra Clean by 248.5% in the third quarter, owning 211,900 shares of the semiconductor company’s stock valued at $5,456,000 after acquiring an additional 151,100 shares during the last quarter.
Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Ultra Clean by 24.7% in the third quarter and now owns over 746k shares valued at $19,233,000 after acquiring an additional 148,180 shares during the last quarter while UBS Group AG lifted its holdings in shares by a stunning margin of 400% in Q3 and currently possesses over 183K shares valued at $4,736,,000 after acquiring an extra amount equivalent to over 147K shares during that period.
JPMorgan Chase & Co., on the other hand raised its stake by over sixty percent(60%) during Q1 for ownership of slightly above two hundred thousand (239k) UCTT stocks worth $10 million and fifty-four thousand ($134) following a rise from seventy-seven thousand and seventy-four ($77k) purchases recorded earlier.
Institutional investors are reported to own about eighty percent (80%) of the company’s stock barely increasing Nasdaq: UCTT share opening value at about $29.69 potentially due to analysts rating which rated overall stock as “Moderate Buy” with a consensus price target of $36.20 based on Bloomberg data.
Ultra Clean Holdings is engaged in the development and supplying of critical subsystems, components, and parts, as well as ultra-high purity cleaning and analytical services created particularly for the semiconductor industry. The firm operates through two segments: Products and Services.The Products segment is involved in the design and manufacture of production tools, components, parts, modules, and subsystems for the semiconductor and display capital equipment industry.
Earlier reports also had a statement about CFO Sheri Savage who sold eight thousand seventy-one(8,071) shares of the firm’s stock early this March. She primarily sold them at an average price of $32.30 worth $260k+. With that transaction now completed according to filing with SEC by Ms Savage, it was disclosed that she directly owns slightly above seventy-seven thousand shares (77,028) in UCTT valued at around two million four hundred and eighty-eight thousand dollars ($2.5m) on context date.