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

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Ultra Clean Holdings, Inc. (NASDAQ:UCTT - Get Free Report) shares 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 bought 10,000 shares of Ultra Clean stock in a transaction on Friday, March 7th. The shares were bought at an average price of $24.29 per share, for a total transaction of $242,900.00. Following the completion of the transaction, the director now directly owns 11,000 shares of the company's stock, valued at $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 at this link. Also, insider Bill Bentinck acquired 3,000 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average price of $25.17 per share, for a total transaction 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. This trade represents a 5.20 % increase in their position. The disclosure for this purchase can be found here.

Analysts Set New Price Targets

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.

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Ultra Clean Price Performance

The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 315.66, a PEG ratio of 0.51 and a beta of 2.20. 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 company has a 50 day moving average of $34.09 and a 200 day moving average of $35.73.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Alpha Wealth Funds LLC acquired a new position in shares of Ultra Clean during the 4th quarter worth about $356,000. AWM Investment Company Inc. boosted its position in shares of Ultra Clean by 22.0% during the 4th quarter. AWM Investment Company Inc. now owns 184,917 shares of the semiconductor company's stock worth $6,648,000 after acquiring an additional 33,300 shares in the last quarter. PharVision Advisers LLC acquired a new position in shares of Ultra Clean during the 4th quarter worth about $291,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of 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 worth $2,592,000 after acquiring an additional 4,194 shares in the last quarter. Finally, Twinbeech Capital LP acquired a new position in shares of Ultra Clean during the 4th quarter worth about $529,000. 96.06% of the stock is owned by institutional investors and hedge funds.

Ultra Clean Company Profile

(Get Free Report)

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.

Further Reading

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