Ultra Clean (NASDAQ:UCTT) Stock Price Down 6.9% – Here’s Why

Ultra Clean Holdings, Inc. (NASDAQ:UCTT) shares were down 6.9% on Wednesday . The stock traded as low as $18.30 and last traded at $18.39. Approximately 346,518 shares changed hands during trading, a decline of 18% from the average daily volume of 422,666 shares. The stock had previously closed at $19.76.

Wall Street Analysts Forecast Growth

UCTT has been the topic of several recent analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 target price on shares of Ultra Clean in a report on Thursday, March 6th. Oppenheimer decreased their price target on shares of Ultra Clean from $60.00 to $30.00 and set an “outperform” rating on the stock in a research note on Friday, April 11th.

Ultra Clean Stock Down 5.0 %

The firm has a market capitalization of $847.58 million, a P/E ratio of 234.78, a PEG ratio of 0.51 and a beta of 2.14. 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 stock has a 50 day moving average of $26.34 and a 200-day moving average of $33.36.

Insider Buying and Selling at Ultra Clean

In other news, Director Ernest E. Maddock acquired 10,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were purchased at an average cost of $24.29 per share, for a total transaction of $242,900.00. Following the transaction, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $267,190. This trade represents a 1,000.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Bill Bentinck acquired 3,000 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was acquired at an average cost of $25.17 per share, with a total value of $75,510.00. Following the purchase, the insider now 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. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of Ultra Clean

A number of institutional investors have recently bought and sold shares of the stock. Headlands Technologies LLC purchased a new position in shares of Ultra Clean during the fourth quarter worth approximately $26,000. Versant Capital Management Inc raised its stake in Ultra Clean by 386.9% in the first quarter. Versant Capital Management Inc now owns 1,412 shares of the semiconductor company’s stock worth $30,000 after buying an additional 1,122 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Ultra Clean by 107.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 948 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 490 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Ultra Clean by 694.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 977 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 854 shares during the last quarter. Finally, Quarry LP grew its position in shares of Ultra Clean by 58.1% in the 4th quarter. Quarry LP now owns 1,913 shares of the semiconductor company’s stock worth $69,000 after buying an additional 703 shares during the last quarter. 96.06% of the stock is currently owned by institutional investors.

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.