Paul Yoonku Cho, the General Counsel and Secretary of Ultra Clean Holdings, Inc. (NASDAQ:UCTT), a company specializing in semiconductor devices, has recently sold a portion of his stock in the company. The transaction, which took place on May 17, 2024, involved the sale of 3,449 shares at an average price of $44.7915 per share, resulting in a total value of approximately $154,485.
The shares were sold in multiple transactions within a narrow price range, from $44.7900 to $44.8400. Following this sale, Cho's remaining direct ownership in Ultra Clean Holdings stands at 17,166 shares. The details of the sale, including the exact number of shares sold at each price within the range, are available upon request from the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission.
This move by a high-ranking executive at Ultra Clean Holdings may be of interest to current and potential investors, as insider transactions can provide insights into a company's health and the confidence levels of its top executives. However, it's important to note that the reasons behind an insider's decision to sell shares can vary and may not necessarily reflect the company's future prospects.
Investors in Ultra Clean Holdings should continue to monitor the company's performance and any further transactions by its executives to inform their investment decisions.
InvestingPro Insights
In light of Paul Yoonku Cho's recent sale of Ultra Clean Holdings, Inc. (NASDAQ:UCTT) shares, investors may be seeking additional context on the company's financial health and market performance. According to InvestingPro data, Ultra Clean Holdings has a market capitalization of approximately $2.07 billion as of the first quarter of 2024. Despite a challenging period with a revenue decline of 20.71% in the last twelve months as of Q1 2024, the company experienced a quarterly revenue growth of 10.25% in Q1 2024.
InvestingPro Tips suggest a mixed outlook for the company. While analysts expect net income to grow this year, two analysts have revised their earnings downward for the upcoming period, indicating potential concerns about Ultra Clean Holdings' future earnings. Moreover, the company is noted for having weak gross profit margins, which currently stand at 16.13%. On the positive side, the company's liquid assets exceed its short-term obligations, providing some financial stability.
It's worth noting that despite these challenges, Ultra Clean Holdings has demonstrated significant stock price movements, with a high return over the last year, including a 54.41% total price return. Notably, the stock is trading near its 52-week high, at 93.75% of this peak. Investors may find these metrics particularly relevant when considering the insider sale and the potential implications for the company's valuation.
For those looking to delve deeper into Ultra Clean Holdings' financials and for additional InvestingPro Tips, a visit to https://www.investing.com/pro/UCTT is recommended. There are currently 15 additional tips available on InvestingPro, which can be accessed with an exclusive offer using the coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.