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Do Hedge Funds Love Ultra Clean Holdings Inc (UCTT)?

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Amid an overall market correction, many stocks that smart money investors were collectively bullish on tanked during the third quarter. Among them, Valeant and Micron ranked among the top 30 picks and both lost around 20%. Citigroup, which was the third most popular stock, lost 10% amid uncertainty regarding the interest rates. Nevertheless, our research shows that most of the stocks that smart money likes historically generate strong risk-adjusted returns. This is why following the smart money sentiment is a useful tool at identifying the next stock to invest in.

Is Ultra Clean Holdings Inc (NASDAQ:UCTT) a first-rate stock to buy now? Investors who are in the know are taking an optimistic view. The number of long hedge fund bets increased by 8 lately. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as Sears Hometown and Outlet Stores Inc (NASDAQ:SHOS), Geospace Technologies Corp (NASDAQ:GEOS), and Evolution Petroleum Corporation (NYSEMKT:EPM) to gather more data points.

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Today there are numerous metrics stock market investors can use to appraise publicly traded companies. A pair of the most under-the-radar metrics are hedge fund and insider trading signals. Our researchers have shown that, historically, those who follow the best picks of the top money managers can outperform the market by a solid amount (see the details here).

With all of this in mind, we’re going to analyze the fresh action surrounding Ultra Clean Holdings Inc (NASDAQ:UCTT).

How are hedge funds trading Ultra Clean Holdings Inc (NASDAQ:UCTT)?

Heading into Q4, a total of 18 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of 80% from one quarter earlier. With the smart money’s sentiment swirling, there exists a few notable hedge fund managers who were upping their stakes considerably (or already accumulated large positions).

Of the funds tracked by Insider Monkey, Royce & Associates, managed by Chuck Royce, holds the most valuable position in Ultra Clean Holdings Inc (NASDAQ:UCTT). Royce & Associates has a $10.5 million position in the stock, comprising 0.1% of its 13F portfolio. Coming in second is Harvey Partners, managed by Jeffrey Moskowitz, which holds a $5.2 million position; 3.2% of its 13F portfolio is allocated to the stock. Some other members of the smart money that are bullish consist of Israel Englander’s Millennium Management, Ken Griffin’s Citadel Investment Group and Peter Keane’s Keane Capital Management.

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