Ultra Clean (NASDAQ:UCTT) Issues Earnings Results, Beats Expectations By $0.02 EPS

Ultra Clean (NASDAQ:UCTT) released its quarterly earnings results on Monday. The semiconductor company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02, Briefing.com reports. The business had revenue of $540.40 million for the quarter, compared to analysts’ expectations of $515.88 million. Ultra Clean had a positive return on equity of 2.59% and a negative net margin of 0.46%. The company’s 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 Stock Performance

NASDAQ UCTT opened at $35.12 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.73 and a quick ratio of 1.60. Ultra Clean has a 1-year low of $23.26 and a 1-year high of $56.47. The firm has a market capitalization of $1.57 billion, a P/E ratio of -42.83 and a beta of 2.08. The business’s 50-day simple moving average is $36.67 and its 200-day simple moving average is $42.09.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Needham & Company LLC lowered their price target 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 upped their price objective on shares of Ultra Clean from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, July 26th. TD Cowen decreased their target price on shares of Ultra Clean from $60.00 to $57.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Oppenheimer began coverage on shares of Ultra Clean in a report on Wednesday, September 25th. They issued an “outperform” rating and a $70.00 target price for the company. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target 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.