Ultra Clean (NASDAQ:UCTT) Issues Quarterly Earnings Results

Ultra Clean (NASDAQ:UCTT - Get Free Report) posted its earnings results on Monday. The semiconductor company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.33 by $0.02, Briefing.com reports. The firm had revenue of $540.40 million for the quarter, compared to analysts' expectations of $515.88 million. Ultra Clean had a negative net margin of 0.46% and a positive return on equity of 2.59%. The company's quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($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 Price Performance

Shares of NASDAQ UCTT traded up $0.07 during trading hours on Tuesday, reaching $35.12. 1,514,149 shares of the stock traded hands, compared to its average volume of 366,417. The company's 50-day simple moving average is $36.67 and its two-hundred day simple moving average is $42.09. The company has a market capitalization of $1.57 billion, a P/E ratio of -42.83 and a beta of 2.08. Ultra Clean has a 52-week low of $23.26 and a 52-week high of $56.47. The company has a quick ratio of 1.60, a current ratio of 2.73 and a debt-to-equity ratio of 0.52.

Wall Street Analyst Weigh In

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.