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

Now, some big names have been driving this bullishness. Millennium Management assembled the most outsized position in Ultra Clean Holdings Inc (NASDAQ:UCTT). Millennium Management had $2 million invested in the company at the end of the quarter. Citadel Investment Group also initiated a $1.4 million position during the quarter. The other funds with new positions in the stock are Chao Ku’s Nine Chapters Capital Management, Peter Muller’s PDT Partners, and Dmitry Balyasny’s Balyasny Asset Management.

Let’s now take a look at hedge fund activity in other stocks similar to Ultra Clean Holdings Inc (NASDAQ:UCTT). We will take a look at Sears Hometown and Outlet Stores Inc (NASDAQ:SHOS), Geospace Technologies Corp (NASDAQ:GEOS), Evolution Petroleum Corporation (NYSEMKT:EPM), and MFC Industrial Ltd (NYSE:MIL). This group of stocks’ market valuations are similar to UCTT’s market valuation.

As you can see these stocks had an average of 8 hedge funds with bullish positions and the average amount invested in these stocks was $27 million, the same as in UCTT’s case. Sears Hometown and Outlet Stores Inc (NASDAQ:SHOS) is the most popular stock in this table with 16 funds reporting long positions. On the other hand MFC Industrial Ltd (NYSE:MIL) is the least popular one. Compared to these stocks Ultra Clean Holdings Inc (NASDAQ:UCTT) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.