Ultra Clean (NASDAQ:UCTT) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Ultra Clean (NASDAQ:UCTT) issued its quarterly earnings data on Monday. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02, Briefing.com reports. Ultra Clean had a negative net margin of 0.46% and a positive return on equity of 2.59%. The business had revenue of $540.40 million during the quarter, compared to the consensus estimate of $515.88 million. During the same period in the prior year, the firm posted ($0.03) EPS. The firm’s quarterly revenue was up 24.2% compared to the same quarter last year. 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 Stock Performance

Shares of UCTT traded up $0.07 during mid-day trading on Tuesday, hitting $35.12. 1,514,149 shares of the company traded hands, compared to its average volume of 366,417. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.60 and a current ratio of 2.73. Ultra Clean has a 1 year low of $23.26 and a 1 year high of $56.47. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of -42.83 and a beta of 2.08. The stock has a 50-day moving average price of $36.67 and a two-hundred day moving average price of $42.09.

Analyst Ratings Changes

Several equities analysts have recently weighed in on UCTT shares. Craig Hallum lifted their target price 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 decreased their price target on shares of Ultra Clean from $50.00 to $44.00 and set a “buy” rating on the stock in a report on Tuesday. Oppenheimer began coverage on shares of Ultra Clean in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $70.00 target price on the stock. Finally, TD Cowen cut their price objective on Ultra Clean from $60.00 to $57.00 and set a “buy” rating for the company in a report on Tuesday. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat, Ultra Clean has an average rating of “Buy” and an average 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.