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

Ultra Clean (NASDAQ:UCTT - Get Free Report) issued an update on its fourth quarter 2024 earnings guidance on Monday morning. 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 Trading Down 1.5 %

NASDAQ UCTT traded down $0.54 during trading on Monday, hitting $35.05. The stock had a trading volume of 661,206 shares, compared to its average volume of 360,880. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of -42.74 and a beta of 2.08. The stock has a 50 day simple moving average of $36.67 and a 200 day simple moving average of $42.09. Ultra Clean has a one year low of $23.26 and a one year high of $56.47. 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 (NASDAQ:UCTT - Get Free Report) last released its earnings results on Thursday, July 25th. The semiconductor company reported $0.21 earnings per share for the quarter. The business had revenue of $516.10 million during the quarter, compared to the consensus estimate of $490.06 million. Ultra Clean had a positive return on equity of 2.59% and a negative net margin of 0.46%. The business's revenue for the quarter was up 22.4% compared to the same quarter last year. During the same period last year, the company earned $0.16 earnings per share. Sell-side analysts predict that Ultra Clean will post 1.1 earnings per share for the current year.

Analysts Set New Price Targets

UCTT has been the subject of several recent research reports. TD Cowen boosted their price target on shares of Ultra Clean from $55.00 to $60.00 and gave the company a "buy" rating in a report on Friday, July 26th. Craig Hallum upped their target price on Ultra Clean from $52.00 to $60.00 and gave the stock a "buy" rating in a 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 on the stock. Finally, Needham & Company LLC restated a "buy" rating and set a $56.00 price objective on shares of Ultra Clean in a research note on Friday, July 26th. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $61.50.

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.

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