Ultra Clean (NASDAQ:UCTT) Releases Q3 Earnings Guidance

Ultra Clean (NASDAQ:UCTT) updated its third quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.22-0.42 for the period, compared to the consensus 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.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Needham & Company LLC restated a buy rating and set a $56.00 price target on shares of Ultra Clean in a research report on Friday. Craig Hallum raised their price target on Ultra Clean from $52.00 to $60.00 and gave the stock a buy rating in a research report on Friday. Finally, TD Cowen raised their price target on Ultra Clean from $55.00 to $60.00 and gave the stock a buy rating in a research report on Friday. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Ultra Clean currently has a consensus rating of Moderate Buy and a consensus target price of $58.67.

Ultra Clean Trading Up 1.5 %

NASDAQ UCTT traded up $0.68 on Friday, hitting $45.81. The company’s stock had a trading volume of 862,790 shares, compared to its average volume of 451,755. Ultra Clean has a 52-week low of $22.15 and a 52-week 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. The company’s 50-day simple moving average is $48.57 and its 200 day simple moving average is $44.33. The firm has a market cap of $2.05 billion, a P/E ratio of -55.87 and a beta of 2.13.

Ultra Clean (NASDAQ:UCTT) last released its quarterly earnings data on Thursday, July 25th. The semiconductor company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.06. Ultra Clean had a positive return on equity of 2.60% and a negative net margin of 0.46%. The business had revenue of $516.10 million during the quarter, compared to analysts’ expectations of $490.06 million. During the same quarter last year, the business posted $0.16 EPS. The business’s revenue was up 22.4% on a year-over-year basis.

Insiders Place Their Bets

In other news, 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 completion of the transaction, the chief executive officer now owns 418,453 shares in the company, valued at approximately $23,056,760.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Brian E. Harding sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $43.89, for a total value of $482,790.00. Following the completion of the transaction, the chief accounting officer now owns 37,415 shares in the company, valued at approximately $1,642,144.35. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO James P. Scholhamer sold 26,608 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $55.10, for a total value of $1,466,100.80. Following the completion of the transaction, the chief executive officer now owns 418,453 shares of the company’s stock, valued at approximately $23,056,760.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 110,314 shares of company stock worth $5,370,214. 2.20% of the stock is currently owned by company 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.