Ultra Clean (NASDAQ:UCTT) Releases Earnings Results, Beats Expectations By $0.06 EPS

Ultra Clean (NASDAQ:UCTT) issued its quarterly earnings results on Thursday. The semiconductor company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.06, Briefing.com reports. Ultra Clean had a negative net margin of 0.46% and a positive return on equity of 2.60%. The business had revenue of $516.10 million during the quarter, compared to the consensus estimate of $490.06 million. During the same period in the previous year, the firm posted $0.16 earnings per share. The company’s quarterly revenue was up 22.4% compared to the same quarter last year. Ultra Clean updated its Q3 guidance to $0.22-0.42 EPS and its Q3 2024 guidance to 0.220-0.420 EPS.

Ultra Clean Trading Up 1.5 %

UCTT stock traded up $0.68 during midday trading on Friday, reaching $45.81. 862,790 shares of the company’s stock traded hands, compared to its average volume of 451,755. The company has a market capitalization of $2.05 billion, a P/E ratio of -55.87 and a beta of 2.13. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.76 and a quick ratio of 1.58. Ultra Clean has a fifty-two week low of $22.15 and a fifty-two week high of $56.47. The business has a 50-day moving average price of $48.57 and a two-hundred day moving average price of $44.33.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on UCTT. Needham & Company LLC restated a “buy” rating and issued a $56.00 target price on shares of Ultra Clean in a report on Friday. TD Cowen boosted their target price on shares of Ultra Clean from $55.00 to $60.00 and gave the company a “buy” rating in a report on Friday. Finally, Craig Hallum boosted their target price on shares of Ultra Clean from $52.00 to $60.00 and gave the company a “buy” rating in a report on Friday. 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.com, Ultra Clean has a consensus rating of “Moderate Buy” and a consensus price target of $58.67.

Insider Transactions at Ultra Clean

In other news, CFO Sheri Savage sold 897 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $55.87, for a total transaction of $50,115.39. Following the transaction, the chief financial officer now directly owns 51,678 shares of the company’s stock, valued at $2,887,249.86. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Ultra Clean news, CEO James P. Scholhamer sold 26,608 shares of the firm’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $55.10, for a total transaction of $1,466,100.80. Following the completion of the transaction, the chief executive officer now directly owns 418,453 shares of the company’s stock, valued at approximately $23,056,760.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Sheri Savage sold 897 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $55.87, for a total transaction of $50,115.39. Following the transaction, the chief financial officer now directly owns 51,678 shares of the company’s stock, valued at $2,887,249.86. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,314 shares of company stock valued at $5,370,214. Corporate 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.