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

Ultra Clean Holdings, Inc. (NASDAQ:UCTT - Get Free Report)'s share price gapped up prior to trading 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 changing hands.

Specifically, Director Ernest E. Maddock bought 10,000 shares of the stock in a transaction dated Friday, March 7th. The stock was purchased at an average price of $24.29 per share, for a total transaction of $242,900.00. Following the acquisition, the director now owns 11,000 shares of the company's stock, valued at $267,190. The trade was a 1,000.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Bill Bentinck bought 3,000 shares of the stock in a transaction dated 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 acquisition, the insider now directly owns 60,695 shares in the company, valued at approximately $1,527,693.15. The trade was a 5.20 % increase in their position. The disclosure for this purchase can be found here.

Analyst Upgrades and Downgrades

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.

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Ultra Clean Stock Up 3.1 %

The company has a market cap of $1.14 billion, a PE ratio of 315.66, a P/E/G ratio of 0.51 and a beta of 2.20. The company's 50 day moving average is $33.84 and its 200 day moving average is $35.62. The company has a current ratio of 2.75, a quick ratio of 1.63 and a debt-to-equity ratio of 0.52.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in UCTT. Aigen Investment Management LP purchased a new position in Ultra Clean during the 3rd quarter valued at about $229,000. Victory Capital Management Inc. increased its position in Ultra Clean by 6.8% during the 3rd quarter. Victory Capital Management Inc. now owns 57,825 shares of the semiconductor company's stock valued at $2,309,000 after purchasing an additional 3,681 shares during the period. Cornercap Investment Counsel Inc. purchased a new position in Ultra Clean during the 3rd quarter valued at about $527,000. Quest Partners LLC increased its position in Ultra Clean by 4,602.7% during the 3rd quarter. Quest Partners LLC now owns 6,866 shares of the semiconductor company's stock valued at $274,000 after purchasing an additional 6,720 shares during the period. Finally, Meeder Asset Management Inc. increased its position in Ultra Clean by 306.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 3,466 shares of the semiconductor company's stock valued at $138,000 after purchasing an additional 2,614 shares during the period. 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.