Ultra Clean (NASDAQ:UCTT) Announces Earnings Results

Ultra Clean (NASDAQ:UCTT) released its quarterly earnings data on Tuesday. The semiconductor company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.21, FiscalAI reports. The firm had revenue of $759.00 million during the quarter, compared to analyst estimates of $727.55 million. Ultra Clean had a positive return on equity of 6.99% and a negative net margin of 1.07%.

Ultra Clean Stock Performance

Shares of NASDAQ:UCTT traded up $4.77 during mid-day trading on Tuesday, reaching $51.48. The company had a trading volume of 1,976,549 shares, compared to its average volume of 1,273,797. The company has a current ratio of 2.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.84. The company’s 50-day moving average price is $68.72 and its 200-day moving average price is $73.85. Ultra Clean has a one year low of $21.49 and a one year high of $144.22. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of -99.00, a PEG ratio of 0.48 and a beta of 1.86.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Oppenheimer raised their price target on Ultra Clean from $115.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 4th. TD Cowen boosted their target price on shares of Ultra Clean from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Wall Street Zen raised Ultra Clean from a “hold” rating to a “buy” rating in a report on Sunday, August 9th. Needham & Company LLC increased their price target on shares of Ultra Clean from $92.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Finally, Zacks Research cut Ultra Clean from a “strong-buy” rating to a “hold” rating in a report on Friday, October 2nd. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $128.17.

About Ultra Clean

Ultra Clean Holdings, Inc (NASDAQ: UCTT) provides critical subsystems, components and services used in the production of semiconductor and other high-technology products. The company designs and manufactures gas delivery systems, fluid delivery systems, precision-machined components, process modules and other equipment used by semiconductor capital-equipment manufacturers.

Ultra Clean also provides contract manufacturing, analytical laboratory, equipment installation, repair, refurbishment and tool-maintenance services.