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

Ultra Clean Holdings, Inc. (NASDAQ:UCTT)’s stock price gapped up prior to trading on Wednesday following insider buying activity. 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 trading hands.

Specifically, Director Ernest E. Maddock bought 10,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was acquired at an average price of $24.29 per share, for a total transaction of $242,900.00. Following the completion of the purchase, the director now owns 11,000 shares of the company’s stock, valued at approximately $267,190. This represents a 1,000.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bill Bentinck bought 3,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were acquired at an average price of $25.17 per share, with a total value of $75,510.00. Following the purchase, the insider now directly 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.

Wall Street Analysts Forecast Growth

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

Ultra Clean Stock Performance

The stock’s 50-day moving average is $34.56 and its 200-day moving average is $35.89. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 305.76, a price-to-earnings-growth ratio of 0.51 and a beta of 2.20. 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

Hedge funds have recently made changes to their positions in the business. Headlands Technologies LLC purchased a new position in shares of Ultra Clean in the 4th quarter valued at $26,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Ultra Clean in the 3rd quarter valued at $32,000. Nisa Investment Advisors LLC raised its stake in shares of Ultra Clean by 107.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 948 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 490 shares during the period. Smartleaf Asset Management LLC raised its stake 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 valued at $35,000 after acquiring an additional 854 shares during the period. Finally, Quarry LP raised its stake in shares of Ultra Clean by 447.5% in the 3rd quarter. Quarry LP now owns 1,210 shares of the semiconductor company’s stock valued at $48,000 after acquiring an additional 989 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.