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

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

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.