Ultra Clean (NASDAQ:UCTT) Updates Q3 Earnings Guidance

Ultra Clean (NASDAQ:UCTT) issued an update on its third quarter earnings guidance on Thursday morning. 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 Price Performance

UCTT traded up $0.68 during trading on Friday, hitting $45.81. 862,052 shares of the company traded hands, compared to its average volume of 317,410. The company has a market cap of $2.05 billion, a PE ratio of -56.12 and a beta of 2.13. The stock’s 50-day simple moving average is $48.55 and its two-hundred day simple moving average is $44.23. Ultra Clean has a 1 year low of $22.15 and a 1 year high of $56.47. The company has a current ratio of 2.76, a quick ratio of 1.58 and a debt-to-equity ratio of 0.52.

Ultra Clean (NASDAQ:UCTT) last posted its earnings results on Monday, May 6th. The semiconductor company reported $0.20 earnings per share for the quarter. The company had revenue of $477.70 million during the quarter, compared to analysts’ expectations of $455.00 million. Ultra Clean had a negative net margin of 2.09% and a positive return on equity of 2.19%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. TD Cowen lifted their price objective on shares of Ultra Clean from $55.00 to $60.00 and gave the stock a buy rating in a research note on Friday. Needham & Company LLC reissued a buy rating and issued a $56.00 price objective on shares of Ultra Clean in a research note on Friday. Finally, 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. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Ultra Clean has an average rating of Moderate Buy and an average price target of $58.67.

Insider Activity at Ultra Clean

In related news, CFO Sheri Savage sold 897 shares of Ultra Clean stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $55.87, for a total transaction of $50,115.39. Following the completion of the sale, the chief financial officer now owns 51,678 shares in the company, valued at approximately $2,887,249.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Jamie J. Palfrey sold 5,744 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $43.50, for a total value of $249,864.00. Following the completion of the sale, the senior vice president now owns 23,693 shares in the company, valued at approximately $1,030,645.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Sheri Savage sold 897 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $55.87, for a total transaction of $50,115.39. Following the completion of the sale, the chief financial officer now owns 51,678 shares of the company’s stock, valued at approximately $2,887,249.86. The disclosure for this sale can be found here. Insiders sold 110,314 shares of company stock worth $5,370,214 in the last 90 days. 2.20% of the stock is owned by corporate insiders.

About Ultra Clean

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.