Stock Traders Buy High Volume of Put Options on Ultra Clean (UCTT)

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Ultra Clean Holdings Inc (NASDAQ:UCTT) saw unusually large options trading activity on Wednesday. Stock investors bought 1,372 put options on the stock. This represents an increase of approximately 1,093% compared to the average daily volume of 115 put options.

Shares of NASDAQ UCTT opened at $15.63 on Thursday. The company has a market cap of $546.26 million, a P/E ratio of 6.68, a PEG ratio of 0.91 and a beta of 0.76. Ultra Clean has a 52-week low of $12.75 and a 52-week high of $34.59.

Ultra Clean (NASDAQ:UCTT) last issued its quarterly earnings data on Thursday, July 26th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.02). The firm had revenue of $290.20 million for the quarter, compared to analyst estimates of $288.54 million. Ultra Clean had a net margin of 7.68% and a return on equity of 24.73%. The firm’s revenue for the quarter was up 27.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.59 EPS. equities analysts forecast that Ultra Clean will post 1.93 EPS for the current year.

Several brokerages have recently commented on UCTT. BidaskClub upgraded shares of Ultra Clean from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 30th. ValuEngine cut shares of Ultra Clean from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Zacks Investment Research cut shares of Ultra Clean from a “buy” rating to a “hold” rating in a research report on Thursday, June 21st. Stifel Nicolaus lifted their price target on shares of Ultra Clean from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, June 18th. Finally, Standpoint Research upgraded shares of Ultra Clean from a “hold” rating to a “buy” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Ultra Clean currently has an average rating of “Hold” and a consensus target price of $28.20.

A number of hedge funds and other institutional investors have recently modified their holdings of UCTT. Guggenheim Capital LLC acquired a new position in Ultra Clean during the fourth quarter valued at approximately $341,000. Wells Fargo & Company MN grew its holdings in Ultra Clean by 41.1% during the first quarter. Wells Fargo & Company MN now owns 455,600 shares of the semiconductor company’s stock valued at $8,770,000 after purchasing an additional 132,811 shares during the period. Rhumbline Advisers grew its holdings in Ultra Clean by 171.1% during the first quarter. Rhumbline Advisers now owns 86,814 shares of the semiconductor company’s stock valued at $1,671,000 after purchasing an additional 54,786 shares during the period. Intrinsic Edge Capital Management LLC acquired a new position in Ultra Clean during the first quarter valued at approximately $1,403,000. Finally, Alps Advisors Inc. grew its holdings in Ultra Clean by 25.6% during the first quarter. Alps Advisors Inc. now owns 23,126 shares of the semiconductor company’s stock valued at $445,000 after purchasing an additional 4,720 shares during the period. Hedge funds and other institutional investors own 82.83% of the company’s stock.

About Ultra Clean

Ultra Clean Holdings, Inc designs, develops, prototypes, engineers, manufactures, and tests production tools, modules, and subsystems for the semiconductor and display capital equipment industries primarily in North America, Asia, and Europe. It offers precision robotic systems that are used when accurate controlled motion is required; gas delivery systems, which include one or more gas lines consisting of small diameter internally polished stainless steel tubing products, filters, mass flow controllers, regulators, pressure transducers and valves, component heaters, and an integrated electronic and/or pneumatic control system; and various industrial and automation production equipment products.

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