Ultra Clean (NASDAQ:UCTT) Issues Earnings Results, Beats Estimates By $0.02 EPS

Ultra Clean (NASDAQ:UCTT) announced its quarterly earnings results on Monday. The semiconductor company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.33 by $0.02, Briefing.com reports. The company had revenue of $540.40 million for the quarter, compared to analyst estimates of $515.88 million. Ultra Clean had a negative net margin of 0.46% and a positive return on equity of 2.59%. The firm’s revenue was up 24.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.03) earnings per share. Ultra Clean updated its Q4 guidance to $0.34-$0.54 EPS and its Q4 2024 guidance to 0.340-0.540 EPS.

Ultra Clean Trading Up 0.2 %

NASDAQ:UCTT opened at $35.12 on Wednesday. Ultra Clean has a 12-month low of $23.26 and a 12-month high of $56.47. The company has a current ratio of 2.73, a quick ratio of 1.60 and a debt-to-equity ratio of 0.52. The stock’s 50 day simple moving average is $36.67 and its 200-day simple moving average is $42.09. The firm has a market cap of $1.57 billion, a P/E ratio of -42.83 and a beta of 2.08.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on UCTT shares. Craig Hallum lifted their price target on shares of Ultra Clean from $52.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Needham & Company LLC lowered their target price on shares of Ultra Clean from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Tuesday. Oppenheimer began coverage on shares of Ultra Clean in a report on Wednesday, September 25th. They issued an “outperform” rating and a $70.00 target price on the stock. Finally, TD Cowen decreased their price target on shares of Ultra Clean from $60.00 to $57.00 and set a “buy” rating for the company in a research note on Tuesday. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $57.75.

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.