Ultra Clean (NASDAQ:UCTT) Updates Q2 2024 Earnings Guidance

Ultra Clean (NASDAQ:UCTT) issued an update on its second quarter 2024 earnings guidance on Monday morning. The company provided EPS guidance of 0.160-0.360 for the period, compared to the consensus EPS estimate of 0.260. The company issued revenue guidance of $465.0 million-$515.0 million, compared to the consensus revenue estimate of $465.9 million. Ultra Clean also updated its Q2 guidance to $0.16-0.36 EPS.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Needham & Company LLC boosted their target price on shares of Ultra Clean from $50.00 to $56.00 and gave the company a buy rating in a research report on Tuesday. TD Cowen upped their price objective on shares of Ultra Clean from $47.00 to $55.00 and gave the company a buy rating in a report on Tuesday. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $57.00.

Ultra Clean Stock Performance

UCTT traded up $1.30 during trading on Tuesday, hitting $44.26. 189,904 shares of the company traded hands, compared to its average volume of 309,837. Ultra Clean has a one year low of $22.15 and a one year high of $49.25. The stock’s fifty day moving average is $43.73 and its 200 day moving average is $36.41. The firm has a market cap of $1.98 billion, a P/E ratio of -62.26 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.

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

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.