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

Ultra Clean Holdings, Inc. (NASDAQ:UCTT)’s stock price reached a new 52-week low during 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 trading hands. The stock had previously closed at $36.06.

Separately, TD Cowen lowered their price objective on shares of Ultra Clean from $60.00 to $57.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th.

Institutional Investors Weigh In On Ultra Clean

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Ellevest Inc. boosted its stake in Ultra Clean by 3.5% during the fourth quarter. Ellevest Inc. now owns 13,263 shares of the semiconductor company’s stock worth $477,000 after buying an additional 445 shares in the last quarter. Bank of Montreal Can boosted its stake in Ultra Clean by 6.4% during the fourth quarter. Bank of Montreal Can now owns 7,957 shares of the semiconductor company’s stock worth $286,000 after buying an additional 478 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Ultra Clean by 107.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 948 shares of the semiconductor company’s stock worth $34,000 after buying an additional 490 shares in the last quarter. Counterpoint Mutual Funds LLC boosted its stake in Ultra Clean by 5.5% during the fourth quarter. Counterpoint Mutual Funds LLC now owns 12,182 shares of the semiconductor company’s stock worth $438,000 after buying an additional 631 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in Ultra Clean by 465.5% during the third quarter. Signaturefd LLC now owns 803 shares of the semiconductor company’s stock worth $32,000 after buying an additional 661 shares in the last quarter. Institutional investors and hedge funds own 96.06% of the company’s stock.

Ultra Clean Price Performance

The company has a debt-to-equity ratio of 0.52, a current ratio of 2.75 and a quick ratio of 1.63. The stock’s 50 day simple moving average is $36.71 and its two-hundred day simple moving average is $36.79. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 331.17, a P/E/G ratio of 0.51 and a beta of 2.09.

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.