Ultra Clean (NASDAQ:UCTT) Releases Q3 Earnings Guidance

Ultra Clean (NASDAQ:UCTT) updated its third quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.22-0.42 for the period, compared to the consensus earnings per share estimate of $0.39. The company issued revenue guidance of $490-540 million, compared to the consensus revenue estimate of $500.48 million. Ultra Clean also updated its Q3 2024 guidance to 0.220-0.420 EPS.

Ultra Clean Stock Up 1.5 %

Ultra Clean stock traded up $0.68 during trading hours on Friday, hitting $45.81. The stock had a trading volume of 862,790 shares, compared to its average volume of 451,755. The stock’s 50-day moving average price is $48.57 and its 200-day moving average price is $44.33. The stock has a market capitalization of $2.05 billion, a P/E ratio of -55.87 and a beta of 2.13. Ultra Clean has a 12-month low of $22.15 and a 12-month high of $56.47. The company has a quick ratio of 1.58, a current ratio of 2.76 and a debt-to-equity ratio of 0.52.

Ultra Clean (NASDAQ:UCTT) last announced its quarterly earnings data on Thursday, July 25th. The semiconductor company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.06. Ultra Clean had a negative net margin of 0.46% and a positive return on equity of 2.60%. The company had revenue of $516.10 million during the quarter, compared to analyst estimates of $490.06 million. During the same period in the previous year, the business earned $0.16 EPS. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis.

Analyst Ratings Changes

Several research firms have recently weighed in on UCTT. Craig Hallum boosted their price objective on shares of Ultra Clean from $52.00 to $60.00 and gave the company a buy rating in a report on Friday. Needham & Company LLC reiterated a buy rating and set a $56.00 target price on shares of Ultra Clean in a research note on Friday. Finally, TD Cowen increased their price target on Ultra Clean from $55.00 to $60.00 and gave the company a buy rating in a report on Friday. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Ultra Clean has a consensus rating of Moderate Buy and an average target price of $58.67.

Insider Buying and Selling

In other Ultra Clean news, SVP Jamie J. Palfrey sold 5,744 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $43.50, for a total value of $249,864.00. Following the transaction, the senior vice president now directly owns 23,693 shares in the company, valued at $1,030,645.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Sheri Savage sold 15,319 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $46.00, for a total transaction of $704,674.00. Following the completion of the transaction, the chief financial officer now directly owns 75,044 shares in the company, valued at approximately $3,452,024. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Jamie J. Palfrey sold 5,744 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $43.50, for a total transaction of $249,864.00. Following the completion of the sale, the senior vice president now directly owns 23,693 shares of the company’s stock, valued at $1,030,645.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 110,314 shares of company stock valued at $5,370,214. 2.20% of the stock is owned by insiders.

Ultra Clean Company Profile

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.