Ultra Clean (NASDAQ:UCTT) Releases Q4 2024 Earnings Guidance

Ultra Clean (NASDAQ:UCTT) updated its fourth quarter 2024 earnings guidance on Monday. The company provided earnings per share guidance of 0.340-0.540 for the period, compared to the consensus earnings per share estimate of 0.430. The company issued revenue guidance of $535.0 million-$585.0 million, compared to the consensus revenue estimate of $531.0 million. Ultra Clean also updated its Q4 guidance to $0.34-$0.54 EPS.

Ultra Clean Stock Performance

Ultra Clean stock traded down $2.51 during midday trading on Thursday, hitting $33.37. 301,574 shares of the company’s stock were exchanged, compared to its average volume of 370,046. 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 12-month low of $23.41 and a 12-month high of $56.47. The firm’s 50 day simple moving average is $36.54 and its 200 day simple moving average is $41.98. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of -40.88 and a beta of 2.08.

Ultra Clean (NASDAQ:UCTT) last issued its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The business had revenue of $540.40 million for the quarter, compared to analyst estimates of $515.88 million. Ultra Clean had a negative net margin of 0.46% and a positive return on equity of 2.59%. The business’s revenue was up 24.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.03) earnings per share. Equities research analysts predict that Ultra Clean will post 1.1 EPS for the current year.

Wall Street Analysts Forecast Growth

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