Ultra Clean (NASDAQ:UCTT) Reaches New 52-Week Low - Should You Sell?

Shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT - Get Free Report) hit a new 52-week low during trading on Monday . The company traded as low as $23.03 and last traded at $23.33, with a volume of 510555 shares trading hands. The stock had previously closed at $24.60.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reaffirmed a "buy" rating and issued a $40.00 price objective on shares of Ultra Clean in a research note on Thursday.

Ultra Clean Price Performance

The firm has a market cap of $1.14 billion, a P/E ratio of 316.54, a P/E/G ratio of 0.51 and a beta of 2.09. The company has a fifty day moving average of $35.28 and a 200-day moving average of $36.23. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.75 and a quick ratio of 1.63.

Hedge Funds Weigh In On Ultra Clean

Several hedge funds have recently modified their holdings of UCTT. Headlands Technologies LLC bought a new stake in Ultra Clean during the fourth quarter worth $26,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Ultra Clean during the 3rd quarter valued at $32,000. Nisa Investment Advisors LLC raised its stake in shares of Ultra Clean by 107.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 948 shares of the semiconductor company's stock worth $34,000 after purchasing an additional 490 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of Ultra Clean by 694.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 977 shares of the semiconductor company's stock worth $35,000 after buying an additional 854 shares during the last quarter. Finally, Quarry LP increased its holdings in Ultra Clean by 447.5% during the third quarter. Quarry LP now owns 1,210 shares of the semiconductor company's stock worth $48,000 after buying an additional 989 shares during the last quarter. Institutional investors own 96.06% of the company's stock.

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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.