Ultra Clean (NASDAQ:UCTT) Sees Strong Trading Volume – Should You Buy?

Ultra Clean Holdings, Inc. (NASDAQ:UCTT) shares saw strong trading volume on Wednesday . 452,210 shares were traded during mid-day trading, an increase of 20% from the previous session’s volume of 375,810 shares.The stock last traded at $26.46 and had previously closed at $25.90.

Analyst Ratings Changes

Several analysts have recently commented on the stock. TD Cowen lowered their target price on shares of Ultra Clean from $60.00 to $57.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. Needham & Company LLC lowered their price target on Ultra Clean from $44.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday.

Ultra Clean Stock Performance

The firm’s 50-day moving average price is $36.91 and its 200-day moving average price is $36.86. The stock has a market cap of $1.20 billion, a P/E ratio of 334.07, a PEG ratio of 0.51 and a beta of 2.09. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.75 and a quick ratio of 1.63.

Institutional Trading of Ultra Clean

Hedge funds have recently added to or reduced their stakes in the business. Barclays PLC increased its holdings in shares of Ultra Clean by 395.1% during the third 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 shares of Ultra Clean by 27.9% in the third quarter. JPMorgan Chase & Co. now owns 506,107 shares of the semiconductor company’s stock worth $20,209,000 after acquiring an additional 110,403 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Ultra Clean by 130.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 367,212 shares of the semiconductor company’s stock valued at $14,663,000 after purchasing an additional 207,633 shares in the last quarter. Moloney Securities Asset Management LLC purchased a new position in shares of Ultra Clean in the third quarter worth about $1,048,000. Finally, Lodestar Private Asset Management LLC acquired a new position in Ultra Clean during the third quarter worth $885,000. 96.06% of the stock is owned by hedge funds and other 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.