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

Ultra Clean (NASDAQ:UCTT) issued its earnings results on Monday. The semiconductor company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02, Briefing.com reports. The company had revenue of $540.40 million during the quarter, compared to the consensus estimate of $515.88 million. Ultra Clean had a negative net margin of 0.46% and a positive return on equity of 2.59%. Ultra Clean’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($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 Trading Up 2.2 %

Shares of NASDAQ:UCTT traded up $0.76 during trading on Wednesday, reaching $35.88. The company’s stock had a trading volume of 1,196,743 shares, compared to its average volume of 370,366. The company has a current ratio of 2.73, a quick ratio of 1.60 and a debt-to-equity ratio of 0.52. Ultra Clean has a 12 month low of $23.41 and a 12 month high of $56.47. The firm’s 50 day simple moving average is $36.60 and its two-hundred day simple moving average is $42.03. The stock has a market capitalization of $1.60 billion, a PE ratio of -43.09 and a beta of 2.08.

Wall Street Analyst Weigh In

Several research firms have commented on UCTT. Oppenheimer began coverage on shares of Ultra Clean in a report on Wednesday, September 25th. They set an “outperform” rating and a $70.00 price objective for the company. Needham & Company LLC dropped their price objective on shares of Ultra Clean from $50.00 to $44.00 and set a “buy” rating for the company in a report on Tuesday. Craig Hallum increased their price objective on shares of Ultra Clean from $52.00 to $60.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, TD Cowen dropped their price objective on shares of Ultra Clean from $60.00 to $57.00 and set a “buy” rating for the company in a report on Tuesday. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price 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.