Ultra Clean (NASDAQ:UCTT) Reaches New 52-Week Low – What’s Next?

Ultra Clean Holdings, Inc. (NASDAQ:UCTT)’s share price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $22.30 and last traded at $22.41, with a volume of 98080 shares. The stock had previously closed at $23.17.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC restated a “buy” rating and set a $40.00 target price on shares of Ultra Clean in a research report on Thursday, March 6th.

Ultra Clean Stock Down 5.0 %

The firm has a market cap of $993.36 million, a price-to-earnings ratio of 275.16, a P/E/G ratio of 0.51 and a beta of 2.20. The firm’s 50 day moving average price is $31.10 and its two-hundred day moving average price is $34.87. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.75 and a quick ratio of 1.63.

Insiders Place Their Bets

In other news, Director Ernest E. Maddock bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average cost of $24.29 per share, with a total value of $242,900.00. Following the transaction, the director now owns 11,000 shares of the company’s stock, valued at $267,190. This represents a 1,000.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Bill Bentinck bought 3,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was bought at an average cost of $25.17 per share, with a total value of $75,510.00. Following the transaction, the insider now directly owns 60,695 shares of the company’s stock, valued at approximately $1,527,693.15. This trade represents a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Headlands Technologies LLC purchased a new position in Ultra Clean during the fourth quarter valued at approximately $26,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Ultra Clean during the third quarter worth approximately $32,000. Nisa Investment Advisors LLC raised its holdings in Ultra Clean by 107.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 948 shares of the semiconductor company’s stock worth $34,000 after acquiring an additional 490 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Ultra Clean by 694.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 977 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 854 shares during the period. Finally, Quarry LP grew its position in Ultra Clean by 447.5% in the 3rd quarter. Quarry LP now owns 1,210 shares of the semiconductor company’s stock worth $48,000 after purchasing an additional 989 shares during the last quarter. Institutional investors and hedge funds own 96.06% of the company’s stock.

Ultra Clean Company Profile

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.