Ultra Clean (NASDAQ:UCTT) Updates Q3 2024 Earnings Guidance

Ultra Clean (NASDAQ:UCTT) updated its third quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 0.220-0.420 for the period, compared to the consensus earnings per share estimate of 0.380. The company issued revenue guidance of $490.0 million-$540.0 million, compared to the consensus revenue estimate of $500.5 million. Ultra Clean also updated its Q3 guidance to $0.22-0.42 EPS.

Analyst Ratings Changes

Several brokerages have recently weighed in on UCTT. TD Cowen increased 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 reiterated a buy rating and issued a $56.00 price objective on shares of Ultra Clean in a research note on Friday. Finally, Craig Hallum increased their price objective 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 company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $58.67.

Ultra Clean Price Performance

Shares of Ultra Clean stock traded up $0.68 on Friday, hitting $45.81. 862,052 shares of the company traded hands, compared to its average volume of 317,410. The stock has a market capitalization of $2.05 billion, a P/E ratio of -56.12 and a beta of 2.13. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.58 and a current ratio of 2.76. Ultra Clean has a 52 week low of $22.15 and a 52 week high of $56.47. The business has a 50-day simple moving average of $48.55 and a 200 day simple moving average of $44.23.

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. Ultra Clean had a negative net margin of 2.09% and a positive return on equity of 2.19%. The firm had revenue of $477.70 million during the quarter, compared to analyst estimates of $455.00 million.

Insider Activity at Ultra Clean

In other news, CFO Sheri Savage sold 897 shares of the stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $55.87, for a total value of $50,115.39. Following the sale, the chief financial officer now owns 51,678 shares of the company’s stock, valued at $2,887,249.86. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Sheri Savage sold 897 shares of the stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $55.87, for a total value of $50,115.39. Following the sale, the chief financial officer now directly owns 51,678 shares in the company, valued at $2,887,249.86. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO James P. Scholhamer sold 26,608 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $55.10, for a total value of $1,466,100.80. Following the sale, the chief executive officer now directly owns 418,453 shares of the company’s stock, valued at $23,056,760.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 110,314 shares of company stock valued at $5,370,214. 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.