Ultra Clean (NASDAQ:UCTT) Reaches New 1-Year Low – Here’s What Happened

Shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT) reached a new 52-week low on Friday . The company traded as low as $22.30 and last traded at $22.41, with a volume of 98080 shares trading hands. The stock had previously closed at $23.17.

Analyst Ratings Changes

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

Ultra Clean Stock Performance

The firm has a market cap of $998.73 million, a PE ratio of 277.21, a price-to-earnings-growth ratio of 0.51 and a beta of 2.20. The company has a quick ratio of 1.63, a current ratio of 2.75 and a debt-to-equity ratio of 0.52. The business has a 50 day simple moving average of $31.44 and a two-hundred day simple moving average of $34.93.

Insider Activity at Ultra Clean

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

Institutional Trading of Ultra Clean

Several institutional investors and hedge funds have recently made changes to their positions in UCTT. Connor Clark & Lunn Investment Management Ltd. increased its position in Ultra Clean by 74.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,978 shares of the semiconductor company’s stock valued at $319,000 after purchasing an additional 3,394 shares during the period. Intech Investment Management LLC purchased a new position in Ultra Clean during the third quarter valued at approximately $550,000. Charles Schwab Investment Management Inc. raised its stake in Ultra Clean by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 647,288 shares of the semiconductor company’s stock worth $25,846,000 after buying an additional 18,000 shares in the last quarter. Fisher Asset Management LLC raised its stake in Ultra Clean by 5.4% in the third quarter. Fisher Asset Management LLC now owns 158,410 shares of the semiconductor company’s stock worth $6,325,000 after buying an additional 8,065 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Ultra Clean during the third quarter worth $833,000. 96.06% of the stock is currently owned by institutional investors.

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.