Ultra Clean (NASDAQ:UCTT) Updates Q2 Earnings Guidance

Ultra Clean (NASDAQ:UCTT) updated its second quarter earnings guidance on Monday. The company provided earnings per share guidance of $0.16-0.36 for the period, compared to the consensus earnings per share 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 Stock Up 2.0 %

Ultra Clean stock traded up $0.85 during midday trading on Monday, hitting $42.96. 195,119 shares of the stock were exchanged, compared to its average volume of 311,303. Ultra Clean has a 52-week low of $22.15 and a 52-week high of $49.25. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of -61.03 and a beta of 2.02. The business’s 50-day moving average price is $43.77 and its 200-day moving average price is $36.28. 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 (EPS) for the quarter. The company had revenue of $444.80 million for the quarter, compared to analyst estimates of $444.99 million. Ultra Clean had a negative net margin of 1.79% and a positive return on equity of 1.69%.

Wall Street Analysts Forecast Growth

UCTT has been the subject of several analyst reports. Needham & Company LLC increased their price target on shares of Ultra Clean from $46.00 to $50.00 and gave the company a buy rating in a research report on Thursday, February 22nd. TD Cowen raised their price objective on shares of Ultra Clean from $32.00 to $47.00 and gave the company an outperform rating in a research note on Thursday, February 22nd. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ultra Clean presently has an average rating of Moderate Buy and a consensus price target of $52.33.

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.