Ultra Clean (NASDAQ:UCTT) Issues Q3 Earnings Guidance

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

Ultra Clean Trading Up 1.5 %

Shares of UCTT stock traded up $0.68 on Friday, reaching $45.81. 862,052 shares of the stock were exchanged, compared to its average volume of 317,410. The stock has a market cap of $2.05 billion, a PE ratio of -56.12 and a beta of 2.13. Ultra Clean has a one year low of $22.15 and a one year high of $56.47. 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 stock has a 50 day moving average price of $48.55 and a 200 day moving average price of $44.23.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Needham & Company LLC reaffirmed a buy rating and set a $56.00 price objective on shares of Ultra Clean in a research note on Friday. Craig Hallum upped 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, TD Cowen upped their price objective on Ultra Clean from $55.00 to $60.00 and gave the stock a buy rating in a research report on Friday. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $58.67.

Insider Buying and Selling at Ultra Clean

In other Ultra Clean news, CEO James P. Scholhamer sold 26,608 shares of the company’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 sale, the chief executive officer now owns 418,453 shares in the company, valued at $23,056,760.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO James P. Scholhamer sold 26,608 shares of the company’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 transaction, the chief executive officer now owns 418,453 shares of the company’s stock, valued at $23,056,760.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Clarence L. Granger sold 5,000 shares of the company’s 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 $217,500.00. Following the completion of the transaction, the director now directly owns 92,134 shares in the company, valued at approximately $4,007,829. The disclosure for this sale can be found here. Insiders have sold 110,314 shares of company stock worth $5,370,214 over the last 90 days. Company insiders own 2.20% of the company’s stock.

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.