Ultra Clean Holdings, Inc. (UCTT) Expected to Announce Quarterly Sales of $240.90 Million
Wall Street analysts expect Ultra Clean Holdings, Inc. (NASDAQ:UCTT) to post $240.90 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Ultra Clean Holdings’ earnings, with the highest sales estimate coming in at $241.00 million and the lowest estimate coming in at $240.80 million. Ultra Clean Holdings posted sales of $146.15 million in the same quarter last year, which suggests a positive year-over-year growth rate of 64.8%. The firm is expected to announce its next earnings report after the market closes on Wednesday, October 25th.
On average, analysts expect that Ultra Clean Holdings will report full year sales of $240.90 million for the current year, with estimates ranging from $867.00 million to $903.50 million. For the next financial year, analysts expect that the company will report sales of $957.85 million per share, with estimates ranging from $942.00 million to $973.70 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Ultra Clean Holdings.
Ultra Clean Holdings (NASDAQ:UCTT) last issued its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.11. Ultra Clean Holdings had a return on equity of 24.16% and a net margin of 6.25%. The firm had revenue of $228.26 million for the quarter, compared to the consensus estimate of $213.92 million. During the same period in the prior year, the business posted $0.10 earnings per share. The company’s revenue for the quarter was up 75.8% on a year-over-year basis.
A number of research analysts have commented on the company. Zacks Investment Research upgraded Ultra Clean Holdings from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Tuesday, July 18th. Needham & Company LLC upped their price target on Ultra Clean Holdings from $30.00 to $36.00 and gave the stock a “strong-buy” rating in a research note on Friday. ValuEngine cut Ultra Clean Holdings from a “strong-buy” rating to a “buy” rating in a research note on Friday. Cowen and Company set a $26.00 price target on Ultra Clean Holdings and gave the stock a “hold” rating in a research note on Friday, July 28th. Finally, Craig Hallum upped their price target on Ultra Clean Holdings from $25.00 to $34.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $28.83.
Ultra Clean Holdings (UCTT) traded up 3.96% on Wednesday, reaching $33.60. The company’s stock had a trading volume of 1,421,408 shares. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 24.31 and a beta of 1.30. The company has a 50 day moving average of $27.37 and a 200 day moving average of $22.44. Ultra Clean Holdings has a 52 week low of $7.06 and a 52 week high of $33.90.
In other news, CFO Sheri Brumm sold 20,512 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $22.85, for a total transaction of $468,699.20. Following the sale, the chief financial officer now owns 170,939 shares of the company’s stock, valued at $3,905,956.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP David Speirs sold 19,029 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $24.04, for a total value of $457,457.16. Following the sale, the senior vice president now directly owns 100,879 shares in the company, valued at approximately $2,425,131.16. The disclosure for this sale can be found here. Insiders have sold 51,119 shares of company stock worth $1,203,079 in the last ninety days. Corporate insiders own 2.60% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Legal & General Group Plc increased its position in shares of Ultra Clean Holdings by 4.2% during the second quarter. Legal & General Group Plc now owns 7,824 shares of the semiconductor company’s stock worth $146,000 after acquiring an additional 314 shares during the period. Pacad Investment Ltd. purchased a new stake in shares of Ultra Clean Holdings during the second quarter worth $173,000. Nordea Investment Management AB purchased a new stake in shares of Ultra Clean Holdings during the first quarter worth $204,000. State Board of Administration of Florida Retirement System increased its position in shares of Ultra Clean Holdings by 0.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 12,618 shares of the semiconductor company’s stock worth $213,000 after acquiring an additional 69 shares during the period. Finally, Principal Financial Group Inc. purchased a new stake in shares of Ultra Clean Holdings during the second quarter worth $228,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.
About Ultra Clean Holdings
Ultra Clean Holdings, Inc is engaged in the design, engineering and manufacture of production tools, modules and subsystems the semiconductor capital equipment industry. The Company’s products include precision robotic solutions; gas delivery systems; a range of industrial and automation production equipment products; subsystems that includes wafer cleaning sub-systems, chemical delivery modules, top-plate assemblies, frame assemblies, and process modules.
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