Ultra Clean (NASDAQ:UCTT) Issues Quarterly Earnings Results

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

Shares of NASDAQ UCTT traded up $0.07 during trading hours on Tuesday, reaching $35.12. 1,514,149 shares of the stock traded hands, compared to its average volume of 366,417. The company’s 50-day simple moving average is $36.67 and its two-hundred day simple moving average is $42.09. The company has a market capitalization of $1.57 billion, a P/E ratio of -42.83 and a beta of 2.08. Ultra Clean has a 52-week low of $23.26 and a 52-week high of $56.47. The company has a quick ratio of 1.60, a current ratio of 2.73 and a debt-to-equity ratio of 0.52.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on UCTT. Craig Hallum raised 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, July 26th. Oppenheimer initiated coverage on Ultra Clean in a research report on Wednesday, September 25th. They set an “outperform” rating and a $70.00 price target on the stock. TD Cowen cut their price target on Ultra Clean from $60.00 to $57.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Needham & Company LLC lowered their price objective on Ultra Clean from $50.00 to $44.00 and set a “buy” rating on the stock in a research note on Tuesday. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Ultra Clean presently has a consensus rating of “Buy” and an average price target of $57.75.

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.