Ultra Clean (NASDAQ:UCTT) Hits New 12-Month Low – Should You Sell?

Ultra Clean Holdings, Inc. (NASDAQ:UCTT) shares hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $22.64 and last traded at $23.14, with a volume of 59693 shares changing hands. The stock had previously closed at $23.70.

Analysts Set New Price Targets

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

Ultra Clean Stock Performance

The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 281.05, a P/E/G ratio of 0.51 and a beta of 2.20. The company has a 50 day moving average price of $34.82 and a 200 day moving average price of $36.00. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.63 and a current ratio of 2.75.

Institutional Investors Weigh In On Ultra Clean

Several hedge funds and other institutional investors have recently modified their holdings of the company. New York State Common Retirement Fund raised its holdings in Ultra Clean by 132.6% during the fourth quarter. New York State Common Retirement Fund now owns 36,225 shares of the semiconductor company’s stock worth $1,302,000 after buying an additional 20,650 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Ultra Clean by 3.1% in the 4th quarter. Principal Financial Group Inc. now owns 219,821 shares of the semiconductor company’s stock worth $7,903,000 after acquiring an additional 6,546 shares during the last quarter. Barclays PLC lifted its position in Ultra Clean by 395.1% in the 3rd quarter. Barclays PLC now owns 83,577 shares of the semiconductor company’s stock valued at $3,337,000 after acquiring an additional 66,695 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Ultra Clean by 27.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 506,107 shares of the semiconductor company’s stock valued at $20,209,000 after purchasing an additional 110,403 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of Ultra Clean by 109.9% in the third quarter. BNP Paribas Financial Markets now owns 66,182 shares of the semiconductor company’s stock worth $2,643,000 after purchasing an additional 34,645 shares during the last quarter. Institutional investors 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.