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

Ultra Clean (NASDAQ:UCTT) updated its second quarter 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 0.160-0.360 for the period, compared to the consensus 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.

Ultra Clean Stock Up 3.3 %

UCTT traded up $1.42 during trading on Tuesday, reaching $44.38. The company had a trading volume of 168,299 shares, compared to its average volume of 309,661. The business’s fifty day moving average price is $43.73 and its 200 day moving average price is $36.41. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.88 and a quick ratio of 1.67. Ultra Clean has a 12 month low of $22.15 and a 12 month high of $49.25. The company has a market cap of $1.98 billion, a P/E ratio of -62.26 and a beta of 2.02.

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on UCTT. Needham & Company LLC increased their price target on Ultra Clean from $50.00 to $56.00 and gave the company a buy rating in a research report on Tuesday. TD Cowen increased their price objective on Ultra Clean from $47.00 to $55.00 and gave the company a buy rating in a report on Tuesday. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Ultra Clean currently has an average rating of Moderate Buy and a consensus target price of $57.00.

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.