In a recent transaction, Clarence L. Granger, a director of Ultra Clean Holdings, Inc. (NASDAQ:UCTT), sold 5,000 shares of the company’s common stock. The sale took place on May 9, 2024, and was valued at approximately $217,475, with the weighted average sale price being $43.4951 per share.
The shares were sold in multiple transactions at prices ranging from $43.0600 to $43.9700. Following this sale, Granger’s direct ownership in the company stands at 92,134 shares of common stock.
Ultra Clean Holdings, Inc., headquartered in Hayward, California, is a key player in the semiconductor and related devices industry. The company specializes in providing critical subsystems for the semiconductor capital equipment industry.
Investors and market watchers often look to insider transactions as a signal of the executives' perspectives on the company's current valuation and future prospects. While the reasons for insider sales can vary widely, they are nonetheless transactions of interest to the investment community.
The details of the sale, including the range of sale prices, were disclosed in a Form 4 filing with the Securities and Exchange Commission. Granger has indicated a willingness to provide full information regarding the number of shares sold at each separate price within the provided range upon request.
The transaction was signed off by Paul Y. Cho, as attorney-in-fact for Clarence L. Granger, on May 13, 2024.
InvestingPro Insights
Ultra Clean Holdings, Inc. (NASDAQ:UCTT) has seen its share price perform robustly over the past six months, with a 72.25% price total return, highlighting investor confidence and market momentum. This is in line with the director's recent sale, which occurred when the stock was trading at 88.35% percent of its 52-week high, suggesting a strong market valuation at the time of the transaction.
Despite a challenging year with a -20.71% decline in revenue growth over the last twelve months as of Q1 2024, the company has shown signs of a turnaround with a quarterly revenue growth of 10.25% in Q1 2024, indicating potential stabilization or improvement in its business operations.
An InvestingPro Tip worth considering is that Ultra Clean Holdings is expected to be profitable this year, which may influence investor perception and the stock's future performance. Additionally, the company's liquid assets exceed its short-term obligations, providing financial flexibility and reducing immediate liquidity risks.
For more detailed analysis and additional InvestingPro Tips, such as the latest earnings revisions by analysts and the company's valuation multiples, investors can visit InvestingPro. There are currently 13 additional tips available on InvestingPro for Ultra Clean Holdings, Inc. Investors interested in a deeper dive into the company's financials can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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