Ultra Clean (NASDAQ:UCTT) Issues Q2 Earnings Guidance

Ultra Clean (NASDAQ:UCTT) issued an update on its second quarter earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $0.16-0.36 for the period, compared to the consensus estimate of $0.26. The company issued revenue guidance of $465-515 million, compared to the consensus revenue estimate of $465.87 million. Ultra Clean also updated its Q2 2024 guidance to 0.160-0.360 EPS.

Ultra Clean Stock Performance

NASDAQ:UCTT traded up $0.18 on Thursday, hitting $43.97. The stock had a trading volume of 94,638 shares, compared to its average volume of 309,101. Ultra Clean has a 52-week low of $22.15 and a 52-week high of $49.25. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of -53.24 and a beta of 2.02. The company has a quick ratio of 1.67, a current ratio of 2.88 and a debt-to-equity ratio of 0.51. The business’s 50-day simple moving average is $43.75 and its two-hundred day simple moving average is $36.59.

Ultra Clean (NASDAQ:UCTT) last released its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $0.12 earnings per share for the quarter. Ultra Clean had a negative net margin of 1.79% and a positive return on equity of 1.69%. The business had revenue of $444.80 million for the quarter, compared to the consensus estimate of $444.99 million.

Wall Street Analysts Forecast Growth

UCTT has been the subject of several recent analyst reports. TD Cowen upped their target price on shares of Ultra Clean from $47.00 to $55.00 and gave the stock a buy rating in a report on Tuesday. Needham & Company LLC upped their price objective on Ultra Clean from $50.00 to $56.00 and gave the company a buy rating in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ultra Clean presently has an average rating of Moderate Buy and a consensus price target of $57.00.

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.