Ultra Clean (NASDAQ:UCTT) Shares Gap Up on Insider Buying Activity

Ultra Clean Holdings, Inc. (NASDAQ:UCTT)’s stock price gapped up before the market opened on Wednesday after an insider bought additional shares in the company. The stock had previously closed at $22.98, but opened at $24.84. Ultra Clean shares last traded at $24.88, with a volume of 129,174 shares traded.

Specifically, 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 price of $24.29 per share, for a total transaction of $242,900.00. Following the completion of the acquisition, the director now owns 11,000 shares in the company, valued at approximately $267,190. This represents a 1,000.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, insider Bill Bentinck acquired 3,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was bought at an average price of $25.17 per share, for a total transaction of $75,510.00. Following the acquisition, 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 position. The disclosure for this purchase can be found here.

Analyst Upgrades and Downgrades

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

Ultra Clean Stock Performance

The company has a market cap of $1.11 billion, a PE ratio of 306.29, a P/E/G ratio of 0.51 and a beta of 2.20. The company has a current ratio of 2.75, a quick ratio of 1.63 and a debt-to-equity ratio of 0.52. The business has a fifty day moving average of $34.33 and a 200-day moving average of $35.81.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Alpha Wealth Funds LLC purchased a new position in Ultra Clean during the 4th quarter valued at about $356,000. AWM Investment Company Inc. boosted its position in Ultra Clean by 22.0% during the 4th quarter. AWM Investment Company Inc. now owns 184,917 shares of the semiconductor company’s stock valued at $6,648,000 after acquiring an additional 33,300 shares in the last quarter. PharVision Advisers LLC bought a new stake in Ultra Clean during the 4th quarter valued at approximately $291,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Ultra Clean by 6.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 72,089 shares of the semiconductor company’s stock valued at $2,592,000 after acquiring an additional 4,194 shares in the last quarter. Finally, Twinbeech Capital LP bought a new stake in Ultra Clean during the 4th quarter valued at approximately $529,000. Hedge funds and other institutional investors own 96.06% of the company’s stock.

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.