Ultra Clean (NASDAQ:UCTT) Hits New 12-Month Low Following Analyst Downgrade

Shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT) hit a new 52-week low during mid-day trading on Tuesday after Needham & Company LLC lowered their price target on the stock from $44.00 to $40.00. Needham & Company LLC currently has a buy rating on the stock. Ultra Clean traded as low as $31.87 and last traded at $27.34, with a volume of 3585 shares. The stock had previously closed at $36.06.

Separately, TD Cowen decreased their price target on Ultra Clean from $60.00 to $57.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th.

Institutional Investors Weigh In On Ultra Clean

Institutional investors and hedge funds have recently made changes to their positions in the stock. Creative Planning acquired a new position in shares of Ultra Clean in the 3rd quarter valued at $546,000. Allspring Global Investments Holdings LLC raised its stake in shares of Ultra Clean by 1,073.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 13,040 shares of the semiconductor company’s stock worth $521,000 after purchasing an additional 11,929 shares during the last quarter. Signaturefd LLC raised its stake in shares of Ultra Clean by 465.5% in the third quarter. Signaturefd LLC now owns 803 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 661 shares during the last quarter. Lodestar Private Asset Management LLC acquired a new stake in shares of Ultra Clean during the third quarter worth about $885,000. Finally, Pinnacle Associates Ltd. boosted its position in Ultra Clean by 2.1% in the third quarter. Pinnacle Associates Ltd. now owns 420,709 shares of the semiconductor company’s stock valued at $16,799,000 after buying an additional 8,471 shares during the last quarter. 96.06% of the stock is currently owned by institutional investors and hedge funds.

Ultra Clean Trading Down 28.2 %

The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.63 and a current ratio of 2.75. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 323.79, a P/E/G ratio of 0.51 and a beta of 2.09. The company’s fifty day moving average is $36.91 and its two-hundred day moving average is $36.86.

About Ultra Clean

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.