Ultra Clean (NASDAQ:UCTT) Issues Q2 Earnings Guidance

Ultra Clean (NASDAQ:UCTT – Get Rating) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.84-$1.20 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.17. The company issued revenue guidance of $550-$630 million, compared to the consensus revenue estimate of $602.10 million.

UCTT traded down $1.00 during midday trading on Friday, reaching $31.17. 940,927 shares of the company were exchanged, compared to its average volume of 483,030. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.62 and a current ratio of 2.42. Ultra Clean has a one year low of $29.89 and a one year high of $60.84. The stock has a market capitalization of $1.42 billion, a P/E ratio of 11.54 and a beta of 1.99. The stock’s 50-day simple moving average is $39.69 and its 200 day simple moving average is $48.32.

Ultra Clean (NASDAQ:UCTT – Get Rating) last issued its earnings results on Wednesday, April 27th. The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.99 by ($0.04). Ultra Clean had a return on equity of 20.95% and a net margin of 5.44%. During the same period in the prior year, the firm posted $0.84 EPS. On average, research analysts anticipate that Ultra Clean will post 4.65 earnings per share for the current year.

Several research firms have recently weighed in on UCTT. DA Davidson cut their price objective on Ultra Clean from $80.00 to $65.00 in a report on Thursday. Needham & Company LLC lowered their price target on Ultra Clean from $66.00 to $53.00 and set a buy rating on the stock in a research report on Tuesday, April 12th. StockNews.com assumed coverage on Ultra Clean in a research report on Thursday, March 31st. They set a hold rating on the stock. Finally, Zacks Investment Research downgraded Ultra Clean from a strong-buy rating to a hold rating in a research note on Wednesday. Two equities research analysts have 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 has an average rating of Buy and an average price target of $57.00.

In other Ultra Clean news, Director David T. Ibnale sold 25,000 shares of the stock in a transaction that occurred on Wednesday, March 2nd. The stock was sold at an average price of $45.68, for a total value of $1,142,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.30% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. Alliancebernstein L.P. lifted its stake in Ultra Clean by 0.9% during the fourth quarter. Alliancebernstein L.P. now owns 60,289 shares of the semiconductor company’s stock worth $3,458,000 after purchasing an additional 555 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in Ultra Clean by 209.3% during the fourth quarter. Cubist Systematic Strategies LLC now owns 43,820 shares of the semiconductor company’s stock worth $2,514,000 after purchasing an additional 29,654 shares during the last quarter. Vident Investment Advisory LLC lifted its stake in Ultra Clean by 4.2% during the fourth quarter. Vident Investment Advisory LLC now owns 42,347 shares of the semiconductor company’s stock worth $2,430,000 after purchasing an additional 1,723 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Ultra Clean by 1.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 36,540 shares of the semiconductor company’s stock worth $2,096,000 after buying an additional 409 shares during the period. Finally, Credit Suisse AG increased its holdings in shares of Ultra Clean by 17.0% in the fourth quarter. Credit Suisse AG now owns 35,569 shares of the semiconductor company’s stock worth $2,040,000 after buying an additional 5,174 shares during the period. 77.10% of the stock is owned by hedge funds and other institutional investors.

Ultra Clean Company Profile (Get Rating)

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.

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