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

Ultra Clean (NASDAQ:UCTT) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.220-0.420 for the period, compared to the consensus 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.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. TD Cowen raised their target price on shares of Ultra Clean from $55.00 to $60.00 and gave the stock a buy rating in a research note on Friday. Craig Hallum lifted their price objective on Ultra Clean from $52.00 to $60.00 and gave the stock a buy rating in a research report on Friday. Finally, Needham & Company LLC restated a buy rating and issued a $56.00 target price on shares of Ultra Clean 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 company. According to MarketBeat.com, Ultra Clean has a consensus rating of Moderate Buy and a consensus price target of $58.67.

Ultra Clean Trading Up 1.5 %

Shares of UCTT stock traded up $0.68 during trading on Friday, hitting $45.81. 862,052 shares of the stock traded hands, compared to its average volume of 317,410. The firm 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 current ratio of 2.76 and a quick ratio of 1.58. The firm’s fifty day moving average price is $48.55 and its 200-day moving average price is $44.23. Ultra Clean has a 52-week low of $22.15 and a 52-week high of $56.47.

Ultra Clean (NASDAQ:UCTT) last released its quarterly earnings results on Monday, May 6th. The semiconductor company reported $0.20 EPS for the quarter. The firm had revenue of $477.70 million for the quarter, compared to analyst estimates of $455.00 million. Ultra Clean had a negative net margin of 2.09% and a positive return on equity of 2.19%.

Insider Activity

In other news, CFO Sheri Savage sold 15,319 shares of Ultra Clean stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $46.00, for a total transaction of $704,674.00. Following the sale, the chief financial officer now owns 75,044 shares of the company’s stock, valued at approximately $3,452,024. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, SVP Jamie J. Palfrey sold 5,744 shares of Ultra Clean 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sheri Savage sold 15,319 shares of Ultra Clean stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $46.00, for a total transaction of $704,674.00. Following the completion of the sale, the chief financial officer now owns 75,044 shares of the company’s stock, valued at approximately $3,452,024. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 110,314 shares of company stock valued at $5,370,214. 2.20% of the stock is currently owned by company 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.