In a recent transaction, Christopher S. Cook, President of the Products Division at Ultra Clean Holdings, Inc. (NASDAQ:UCTT), sold shares of the company's common stock, amounting to a total value of $124,382. The sale took place on November 14, 2023, and was disclosed in a filing with the Securities and Exchange Commission.
The transaction involved the sale of 4,662 shares at a price of $26.68 each. It's important to note that this sale was due to an administrative oversight related to the vesting and settlement of restricted stock units and was not timely filed, as indicated by a footnote in the SEC filing.
Following the sale, Cook still holds a total of 32,915 shares of Ultra Clean Holdings, representing his current stake in the semiconductor and related devices manufacturer. This information provides investors with an updated view of the insider's holdings following the transaction.
Ultra Clean Holdings, Inc., with its headquarters in Hayward, California, specializes in the manufacturing of critical subsystems for the semiconductor industry. The company's stock transactions by executives are closely watched by investors as they can provide insights into management's perspective on the company's financial health and future prospects.
Investors and market watchers often monitor such filings to consider the context of the transactions and any potential impact on the company's share performance.
InvestingPro Insights
As investors digest the recent insider transaction at Ultra Clean Holdings, Inc. (NASDAQ:UCTT), it's valuable to consider the company's financial health and market performance through the lens of InvestingPro data and insights. With a market capitalization of $1.9 billion and a challenging P/E ratio of -78.34, reflecting the company's struggle to maintain profitability over the last twelve months, UCTT's financial landscape presents a complex picture. The data indicates a significant revenue decline of nearly 27% over the last year, alongside a gross profit margin of 15.99%, which underscores the issues highlighted by one of the InvestingPro Tips that UCTT suffers from weak gross profit margins.
Despite these challenges, the company has experienced a strong return over the last three months, with a 40.62% increase in its stock price, and a notable 73.82% uptick over the last six months. This performance may suggest investor confidence in the company's future prospects or a market correction, which aligns with another InvestingPro Tip suggesting a high return over the last year. Furthermore, with liquid assets surpassing short-term obligations, UCTT appears to be in a solid position to manage its immediate financial commitments.
For those interested in a deeper dive into UCTT's financial and market performance, InvestingPro offers additional insights and tips. Currently, there are 15 more InvestingPro Tips available that can provide valuable guidance to investors looking to make informed decisions. Subscribers can access these insights by visiting InvestingPro. Moreover, users can take advantage of a special offer using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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